What does a PBM do? Use this handy guide to explain

On April 2nd, the White House signed a proclamation imposing new tariffs on patented pharmaceutical products under Section 232 of the Trade Expansion Act of 1962, the same national security trade authority underlying longstanding tariffs on steel and aluminum. The headline rate is 100%. But for health plans and TPAs managing specialty drug costs, that number requires context before it becomes useful for strategic rebate management and financial planning.

For years, Medicare drug price negotiation was mostly discussed as a Part D story. That changed in January, when CMS selected 15 drugs for the third cycle of negotiation, including the first drugs payable under Medicare Part B. Negotiations take place in 2026, and any negotiated prices from this cycle take effect in 2028.

What the Consolidated Appropriations Act of 2026 May Mean for Health Plans and Pharmacy Benefit Oversight

CMS has placed renewed emphasis on payment accuracy in Medicare Advantage (MA). While the headlines often focus on how plans are paid, provider organizations should focus on what typically follows: shifts in utilization management posture, contracting dynamics, and documentation sensitivity.