CMS’ proposal to make Part D plans subtract pharmacy fees from drug prices at the point-of-sale would increase drug costs for one-third of beneficiaries and decrease costs for another third of beneficiaries, according to a study by Milliman that was paid for by the Pharmaceutical Care Management Association. The remaining one-third of beneficiaries would not be affected by the proposal because their incomes are low enough that they don’t pay premiums or cost sharing. The Biden administration has a balancing...