Pharmacy benefit managers (PBMs) are increasingly scrutinized intermediaries in the U.S. health care system, negotiating discounts on prescription medications for health insurers and employers while collecting rebates from drugmakers. Even as PBMs have taken on a larger role in drug coverage and pricing in recent decades, including through mergers with insurers, the business arrangements that<span class="readmore-ellipsis">…</span><a href="https://www.kff.org/health-costs/event/june-14-web-event-probing-the-power-and-practices-of-pharmacy-benefit-managers/" class="see-more light-beige no-float inline-readmore">More</a></p>