The insurers are starting to drop the PBMs…
California insurers insure about 1/8 of the US population, so whatever starts there will eventually spread throughout the country. Can’t happen soon enough! Next the powers that be can fix Medicare pharmacy coverage.
According to my wife (who does the stock stuff) the problem was that BCBS of CA swapped to Amazon as a PBM. I’m not sure this is correct; sometimes things get lost in translation, but that is what I understood. It did make sense to me, given the apparent utter failure of Amazon to be a pharmacy in the US, for Amazon to become a PBM. Presumably the Lawyers worked out how they might be both, but that logic completely escapes me.