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Warren, Hawley introducing legislation to break up ‘Big Medicine’
The bill targets integrated health care firms controlling nearly 80% of prescription drug claims to reduce costs and boost competition, empowering federal agencies to enforce compliance.
- On Tuesday, Warren and Hawley introduced a bill targeting health care conglomerates like UnitedHealthcare and CVS Health, stating `The only way to make health care more affordable is to break up these health care conglomerates.`
- Amid concerns about consolidation, the senators say it allows companies to absorb independent pharmacies and steer business to affiliates, with Warren stating `The only way to make health care more affordable is to break up these health care conglomerates.`
- Under the proposal, regulators could impose financial penalties and enable the Federal Trade Commission, Department of Health and Human Services, and Department of Justice to bring enforcement actions against companies owning both providers or MSOs and PBMs or insurers.
- With midterm elections approaching, the proposal arrives as both parties seek to rein in health-care costs, and the bipartisan pairing is notable since Warren and Hawley have crossed the aisle before.
- Supporters cite nearly 80% market share managed by Optum, CVS Caremark, and ExpressScripts, comparing the plan to a 'Glass-Steagall' of health care.
7 Articles
7 Articles
The Epoch Times
The Constitution StudySenators Introduce Bipartisan Legislation to Break Up Health Care Conglomerates
Sens. Elizabeth Warren (D-Mass.) and Josh Hawley (R-Mo.) introduced the Break Up Big Medicine Act on Feb. 9 to break up large health care conglomerates. The law would forbid any parent company from owning a mix of health insurers, pharmacy benefit managers, drug wholesalers, medical providers, or related management organizations. A company engaged in such ownership arrangements would have one year from the date of the bill’s enactment to come in…
Josh Hawley Teams Up with Elizabeth Warren for New Bill
Senators Elizabeth Warren (D-MA) and Josh Hawley (R-MO) introduced a new bill that aims to address the healthcare conglomerates affecting prices and industry competition. The bill, called “Break Up Big Medicine Act,” seeks to “prohibit pharmacy benefit managers, insurers, and prescription drug or medical device wholesalers from being under common ownership with certain medical service providers, and for other purposes,” the legislation’s text re…
Mark Cuban Urges Trump To 'Put His Weight Behind' Josh Hawley, Elizabeth Warren's 'Break Up Big Medicine Act' - Cigna Group (NYSE:CI), CVS Health (NYSE:CVS)
Billionaire entrepreneur Mark Cuban has thrown his support behind a sweeping bipartisan effort to dismantle vertical integration in the healthcare industry, urging President Donald Trump to back a newly introduced bill that would force the separation of insurers, pharmacy benefit managers (PBMs), and healthcare providers. ‘No Brainer’ For Lower Costs Cuban, the founder of Cost Plus Drugs, took to social media early Wednesday to praise the “Break…
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