AJMC® in the Press, October 9, 2026

The study “Prescription Rebate Guarantees: Employer Insights,” published in The American Journal of Managed Care® (AJMC®) in July 2024, surveyed 110 employer drug benefit decision makers at organizations with self-funded pharmacy benefits. It found that nearly two-thirds (62.7%) reported specialty drug rebate agreements that include a rebate guarantee. Employers with these guarantees rated them as more important when selecting a pharmacy benefit manager (PBM) than employers receiving rebates without a guarantee or no rebates at all. The study also found an association between using benefits consultants and the weight employers placed on guaranteed rebates.

Insurance Business cited the AJMC study as evidence for its central argument: a larger PBM rebate guarantee doesn't mean a self-funded employer's pharmacy costs are falling, especially as glucagon-like peptide-1 (GLP-1) and specialty drug utilization grows heading into 2027 renewals. The article used the study's two-thirds finding to support a hypothetical showing that utilization growth can outpace negotiated discounts. It also said the prevalence of rebate guarantees may obscure employers' visibility into net drug prices, potentially steering formularies toward higher-cost products and raising total pharmacy spend.

The article, “CMS Finalizes Mandatory GLOBE Model to Test Lower Part B Drug Costs,” published on AJMC.com, reported that CMS finalized the mandatory Global Benchmark for Efficient Drug Pricing (GLOBE) Model. The model ties Medicare Part B drug inflation rebates to an international benchmark based on 19 reference countries. GLOBE launches January 1, 2027, and covers randomly selected areas representing about 25% of original Medicare beneficiaries, who can receive reduced coinsurance starting April 1, 2027.

First Report Managed Care’s “CMS Finalizes GLOBE Model Linking Medicare Part B Drug Rebates to International Prices” names AJMC directly in explaining the benchmark's data sources, its 19 reference countries, and rebates flowing to the Medicare trust fund. It also cites AJMC for the eligible drug classes, the $100 million spending threshold, and the April 2027 coinsurance reduction. It then draws on the American Hospital Association and Axios for the model's narrowed scope, the $440 million savings estimate, and possible legal challenges.