Billionaire entrepreneur Mark Cuban has picked another fight with pharmacy benefit managers, the powerful middlemen insurers hire to manage prescription drug benefits.
His complaint is straightforward. The PBM-controlled system makes prescription drugs more expensive than they need to be, even for people with insurance.
At a Texas State House hearing earlier this month, Cuban offered a striking example. Many customers of his online pharmacy, Cost Plus Drugs, already have prescription drug coverage.
“They come to us because our cash price is often lower than what their insurance plan asks them to pay,” he told lawmakers.
“That tells you something is wrong.”
He’s right.
