Jan 29 (Reuters) - Health insurer Cigna's ( CI ) unit
Evernorth Health said on Wednesday it will make changes to help
lower out-of-pocket cost of prescription drugs for patients at
its pharmacy stores.
The changes will protect patients from paying a high list
price for their medication by giving them access to lower prices
negotiated by Cigna's ( CI ) pharmacy benefit manager, Express Scripts.
Insurers that own pharmacy benefit managers (PBM) have come
under pressure due to their influence over drug pricing.
CVS Health's ( CVS ) Caremark, Cigna's ( CI ) Express Scripts and
UnitedHealth Group's Optum together control the majority
of the U.S. pharmacy benefit market, while their parent
companies operate health insurance and pharmacy businesses.
The PBMs negotiate drug costs with pharmacies and drug
manufacturers and help build drug coverage lists for health
plans, mostly on behalf of employers and the government.
The pharmacy benefit managers directly reimburse pharmacies
for prescription drugs included under their agreed terms.