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Senators demand another antitrust investigation into pharmacy middlemen
A federal antitrust watchdog is already conducting an investigation into, and has filed a lawsuit against, huge pharmacy middlemen. Now two U.S. senators want the Federal Trade Commission to open a separate investigation into an emerging practice of their even bigger parent companies. The middlemen are called pharmacy benefit managers or PBMs, and they have […]
Pay gap narrows, but CEOs still get way more than regular workers, new report says
The pay gap between corporate leaders and workers at low-wage companies narrowed a little between 2022 and 2023, but it’s still huge, according to a report that was released Thursday. In addition, those leaders invested far more heavily in a strategy that boosts their already-lavish pay than they did in employee retirement benefits. Nearly half […]
Federal regulator: Pharmacy middlemen appear to be raising prices, hurting patients
The federal trade watchdog on Tuesday released an interim report saying that sprawling health care conglomerates are driving out competition in the pharmacy sector and appear to be increasing prices in the process. The interim report comes after the Federal Trade Commission in 2022 announced that it was undertaking a sweeping investigation of pharmacy middlemen known as pharmacy benefit […]
Feds expand probe into new layer of drug middlemen
The Federal Trade Commission this month announced that it was expanding its probe into drug middlemen — companies accused of increasing the cost of prescription drugs through secretive, one-sided arrangements with drugmakers and pharmacies. Specifically, it added a third company created by one of the biggest middlemen to its investigation. The commission, which polices anti-competitive […]
Cancer drug shortages decried in congressional hearing
There’s an acute shortage of injectable cancer drugs because manufacturers can’t make money off of them, two experts told a U.S. House subcommittee Tuesday. But it’s unclear whether chaos in the GOP Caucus that’s supposed to be running the chamber will allow for action. The testimony came before the Health Subcommittee of the House Energy […]
Federal authorities move to close mammoth drug-pricing loophole
The federal agency that oversees Medicaid is moving to close a loophole that likely is worth billions to prescription drug middlemen. The Centers for Medicare and Medicaid Services last week proposed a new rule that it said would help ensure compliance with a requirement under federal law that Medicaid dollars be spent in “proper and […]
Federal regulator expands investigation of prescription drug middlemen
The Federal Trade Commission this week announced it added massive drug-purchasers to an investigation into the practices of powerful drug middlemen. Critics have described those businesses, created since 2019, as another layer of opacity in the already obscure world of drug pricing. The FTC — the federal agency tasked with policing monopolistic practices — was already […]
Centene to pay $215 million to settle allegations it ripped off California Medicaid
Medicaid managed-care giant Centene Corp. has agreed to pay California $215 million to settle a drug-pricing scandal. In a press release last week, California Attorney General Rob Bonta said that two Centene-owned managed-care plans, California Health & Wellness and Health Net, ripped off the state’s Medicaid system. They overcharged the system “by falsely reporting higher […]
Centene agrees to pay Iowa $44 million to settle Medicaid fraud claims
Missouri-based Centene Corp. has agreed to pay Iowa $44.4 million to settle claims that it defrauded the state’s Medicaid system. That makes it the latest state to settle claims that were originally raised in Ohio in 2021. Centene, the nation’s largest Medicaid managed-care company, agreed to pay the money over claims that its subsidiary, Iowa […]
Another state settles Medicaid fraud allegations with Centene
Oregon last week became the latest state to settle fraud claims with Medicaid managed-care giant Centene. The Clayton-based company, the largest Medicaid managed-care provider in the United States, agreed to pay Oregon $17 million, according to a statement from the state’s attorney general and its insurance commissioner. Centene has emphasized that it admits to no […]
Groups hopeful Congress will sign off on federal farm worker bill
It’s vital to pass federal legislation reforming migrant worker visas to bring down food costs and to limit devastating levels of food waste, groups advocating for farmers and agricultural workers said last week. Already passed by the U.S. House, the Farm Workforce Modernization Act of 2021, could reach the floor of the U.S. Senate any day. The […]
Government programs mostly responsible for record low child poverty, report says
Despite all the economic dislocation caused by the coronavirus pandemic, child poverty and uninsurance were at record lows last year, U.S. Census data show. And those lows are largely the result of large government interventions, the Center on Budget and Policy Priorities said in a statement that was published Tuesday. The percentage of Americans lacking health […]