For many HR managers the world of pharmacy benefit managers, the third party administrators of prescription drug programs, is understandably confusing.
But with more than 200 million Americans receiving drug coverage from a PBM, there are few decisions for benefits managers more important than choosing and managing a PBM that will ensure reliable coverage and good prices for employers and consumers.
But where to start? PBM contracts are often riddled with language that makes fee structures confusing and jargon that makes it difficult to discern what you're actually paying for. But just like with any other contractor, you should know exactly where your money is going.
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