CVS settles with FTC, agrees to count TrumpRx drug purchases towards insurance
CVS•FTC settlement changes CVS Caremark rebate and deductible practices
NEW YORK, July 14 (Reuters) - CVS Health's CVS.N Caremark has finalized a settlement with the U.S. Federal Trade Commission in which it agreed to curb use of after-market discounts known as rebates and count consumers' TrumpRx purchases toward their deductibles, an FTC spokesperson said on Tuesday.
Similar to Cigna's settlement with the FTC earlier this year, the deal would curb practices critics say contribute to high drug costs. It would also require CVS' Caremark pharmacy benefit manager to include a patient's payments through the TrumpRx drug website toward the deductibles some of its health plans require, once regulations are in place to facilitate the TrumpRx program.
The settlement is expected to bring billions of dollars in savings on drug prices, FTC Chairman Andrew Ferguson said in a statement.
“The FTC under President Trump won’t stand for anticompetitive behavior that drives up prices for American consumers,” Ferguson said.
