PIERRE, S.D.(KELO)- Attorney General Marty Jackley and 38 colleagues are going after Pharmacy Benefit Managers, known as PBMs.
PBMs are third-party administrators of prescription drug programs for health plans, created to give consumers access to low-cost pharamaceuticals.
But, in recent years, they’ve begun purchasing pharmacies, and the savings are disappearing.
Pharmacy Benefit Managers are gaming the system, and that’s costing residents of rural states like South Dakota.
Jackley says instead, the managers have been buying pharmacies and keeping some of the savings for themselves.
He wants Congress to take action.
The Attorneys General say the Pharmacy Benefit Managers have taken over the industry and are raking in huge profits at the expense of consumers.
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