In 2025, 17 pharmacy benefit managers (PBMs) reported receiving payments from pharmaceutical drug manufacturers, which included rebates, fees, and price protection payments.
This year compared to the previous year, PBMs passed $2.18 billion more to issuers, passed $4.17 million more to enrollees, and retained $28.52 million less as revenue. They reported $2.16 billion more total collected from pharmaceutical drug manufacturers.
The Texas Department of Insurance (TDI) gathers this information under Texas Insurance Code Sections 1369.502 and 1369.503. TDI reports the data the PBMs supply but does not audit it.
Payments from pharmaceutical drug manufacturers
| Amount passed to issuers | $5.00 billion |
| Amount passed to enrollees | $15.30 million |
| Amount retained as revenue | $11.59 million |
| Total amount | $5.01 billion |
Note: The “Total amount collected from pharmaceutical drug manufacturers” is lower than expected. Four of the 17 PBMs reported amounts lower than the total of the first three amounts for this question.