MINNEAPOLIS — Editor’s Note: The above video was first published on 6/7/2024.

As the election draws nearer both former President Donald Trump and Vice President Kamala Harris — the Republican and Democratic nominees for president, respectively — are speaking up about their respective plans for making health care more affordable for Americans. 

Vice President Harris has specifically named PBMs or Pharmacy Benefit Managers as a target for more oversight and transparency and Trump issued an executive order calling out PBMs back in 2020.

PBMs primarily run prescription drug coverage for insurers, large employers and other clients. They also set up formularies, or lists of covered drugs, and negotiate rebates off drug prices.

Most agree that pharmacy benefit managers entered the market in the 1980s as Americans started using more drugs than ever before. The presence of the PBMs initially let pharmacists focus more on their businesses by handling backend tasks and saved insurers money through bargaining with drug manufacturers. 

The heightened scrutiny comes as the Federal Trade Commission announced a lawsuit against the three largest PBMs in the country, Caremark, Express Scripts and Optum Rx. Those three companies process roughly 80% of prescriptions nationwide, according to the FTC. 

The FTC said the rebating practices of the three companies have led to artificially inflated list prices for people. List prices are what a drugmaker initially sets for a product and what people who have high deductible plans or no insurance are sometimes stuck paying for prescriptions.

Harris’ campaign promises that, if elected, Harris “will increase competition and demand transparency in the health care industry, starting by cracking down on pharmaceutical companies who block competition and abusive practices by pharmaceutical middlemen who squeeze small pharmacies’ profits and raise costs for consumers.”

The Pharmaceutical Care Management Association, which lobbies for PBMs nationwide has long argued that their work is imperative in saving consumers money on drugs. 

“PBMs support transparency that empowers prescribers, plan sponsors, policymakers, and, most importantly, patients, with the information they need to lower costs while improving access to needed medications. What we don’t support are measures that would empower drug companies to raise costs.” Greg Lopes, vice president of public affairs., for the PCMA. 

MANKATO, Minn. — After a week and a half of selection, jurors have been chosen for the trial of Adam Fravel, and opening statements could potentially begin this week.

Fravel is accused of killing his longtime partner and mother of his children, Madeline Kingsbury. 

While the alleged murder took place in Winona County, the trial will unfold in Mankato, the seat of Blue Earth County. A judge supported a defense motion to change the venue for the trial, saying it would be difficult to select an impartial jury in Winona County due to extensive pre-trial publicity. 

Kingsbury went missing on March 31, 2023. Authorities say she was last seen dropping her kids off at daycare. For weeks, a massive search effort was conducted, with hundreds helping in the search. Her remains were found on June 7 in a remote location close to where Fravel admitted to being on the day she disappeared. 

Fravel was the last known person to see her. He said he had nothing to do with her disappearance and fought for custody of the children while Kingsbury was missing. 

Fravel is charged with two counts of first-degree murder – one for murder while committing domestic abuse and one for premeditated murder – along with two additional counts of second-degree murder.  

The jury consists of 12 jurors and five alternates. A court spokesperson told KARE 11 they seated 11 men and six women, with opening statements starting this Thursday morning at the earliest. 

GOLDEN VALLEY, Minn. — It’s no secret that Americans are increasingly challenged when it comes to making financial ends meet. With the rising cost of food, housing and other necessities – combined with the impact of inflation – many are living from paycheck to paycheck, without a cushion if something were to happen. 

According to financial planner Ayo Idowu, that underlines the importance of establishing an emergency fund. Just how much that is depends on whether you are single with few financial responsibilities, or someone with a family, kids, a mortgage and car payment. 

• Those who are younger with fewer responsibilities should aim for having enough to cover three months of living expenses (not income)
• Folks with homes, cars, kids and other obligations should shoot for an emergency fund that can cover six months of living expenses

If you’re wondering where to find money to fill that fund, Idowu suggests being creative. He is currently in the midst of an “October Fast” with fewer social outings, eating at home instead of out, putting travel on hold and putting all the money saved into his emergency fund. 

If you have questions, check out Ayo Idowu’s web page at Integrate Wealth Management.