X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Rx pill bottles Massachusetts Governor Charlie Baker has asked the federal government to let his state’s Medicaid program create a selective drug formulary and negotiate prices for the products it chooses to cover. (Photo: Shutterstock)

One big reason Americans pay too much for prescription drugs is that the government has been so reluctant to push prices down. Private health insurers pick and choose the medicines they cover and use that discretion to strike deals with drug companies. Medicaid — which would have far greater negotiating power, if it were to use it — is forbidden to do the same.

BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now

Copyright © 2018 ALM Media Properties, LLC. All Rights Reserved.