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Historically, a pharmacy benefit manager (PBM) is a third-party administrator of prescription. drug programs. PBMs are primarily responsible for developing and maintaining the. formulary, contracting with pharmacies, negotiating discounts and rebates with drug. manufacturers, and processing and paying prescription drug claims.
The Medicare QMB program provides low-income seniors with help paying their Medicare premiums and some part A and part B medical expenses, explains Medicare.gov. QMB, known as Qualified Medicare Beneficiary, is a Medicare savings program run by individual states.