As political pressure mounts over drug prices, Aetna (AET) has disclosed plans to pass along some rebates that the big insurer receives from drug makers, a move that comes less than a month after UnitedHealthcare (UNH) committed to taking the same step. Starting next year, Aetna will redirect a majority of rebates for around 3 million people.
“We have always believed that consumers should benefit from discounts and rebates that we negotiate with drug manufacturers,” Aetna chief executive Mark Bertolini said in a statement. “Going forward, we hope this additional transparency will encourage these companies to rationalize their pricing and end the practice of annual double-digit price increases.” Unlike UnitedHealthcare, Aetna already offers self-insured employers the option to pass on rebates at the point of sale and will continue to do so, a spokesman explained.
These moves come amid rising national angst over prescription drug prices, which have sparked a restive wave of legislation from state lawmakers, but mostly paralysis in Washington, D.C. It also arrives as policymakers and others turn their attention to an opaque but highly important component of drug pricing — undisclosed rebates passed between drug makers, pharmacy benefit managers, and insurers.
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