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Anthem Promises a New Type of Drug Plan After PBM Scrutiny

  • ‘We are not building a rebate-focused PBM,’ insurer CEO says
  • New unit is called IngenioRx; is run by former PBM executive
Updated on

Anthem Inc.’s new pharmacy-benefits manager, IngenioRx, will be a more transparent, more customer-friendly business in an industry that has come under criticism from patients and politicians, executives at the health insurer said Thursday.

For example, the new PBM will pass along rebates to customers at the pharmacy counter, the company said during an investor presentation. Critics have said that deep rebates on drugs help keep list prices high, which hurts patients who have to pay cash or a share of a drug’s total cost. Other PBMs have recently moved toward similar practices.