Senators Introduce Bipartisan Legislation to Break Up Health Care Conglomerates

Sens. Elizabeth Warren (D-Mass.) and Josh Hawley (R-Mo.) introduced the Break Up Big Medicine Act on Feb. 9 to break up large health care conglomerates. The law would forbid any parent company from owning a mix of health insurers, pharmacy benefit managers, drug wholesalers, medical providers, or related management organizations. A company engaged in such ownership arrangements would have one year from the date of the bill’s enactment to come into compliance. Violators would be required to forfeit profits or sell assets. Additionally, the act would enable government agencies and non-governmental actors to file lawsuits against violators and screen their future business activities....