Why it matters
CVS Health has dramatically increased its lobbying investment, signaling heightened concerns about legislative threats to its pharmacy benefit manager (PBM) business model and broader healthcare interests.
By the numbers: The healthcare giant spent $3.46 million on lobbying in Q1 2025, a nearly 70% jump from the previous quarter’s $2.04 million.
The big picture
CVS operates at the intersection of retail pharmacies, health insurance (Aetna), and PBM services (CVS Caremark) — making it especially vulnerable to legislation targeting multiple segments of the healthcare ecosystem.
The company has maintained a robust lobbying presence for years, averaging around $2.65 million quarterly over the past 18 years.
The targets
CVS’s lobbying focuses heavily on several bills directly impacting PBMs:
- H.R. 2214, the Delinking Revenue from Unfair Gouging (DRUG) Act: Aims to reform how PBMs generate revenue
- S. 882, the Patients Before Middlemen Act: Targets PBM practices within Medicare Part D and Medicare Advantage
- S. 927, the Protecting Pharmacies in Medicaid Act: Seeks to prevent abusive spread pricing by PBMs under Medicaid
The company is also lobbying on government funding legislation and budget resolutions that could impact Medicare and Medicaid programs.
Behind the scenes
CVS Health utilizes an entirely in-house lobbying team comprised of experienced healthcare policy veterans:
- Melissa A. Schulman and Shannon Penberthy have lobbying histories dating back to 1999
- Joy Anna McGlaun brings experience as a Senior Policy Adviser for the Senate Special Committee on Aging
- Nicole Burda previously lobbied for AARP
- Tara V. Rountree appears to be a new addition to the team
The opposition
CVS faces formidable competition in the lobbying arena:
- Pharmaceutical groups: PhRMA (often at odds with PBMs on drug pricing issues)
- Pharmacy organizations: National Association of Chain Drug Stores and Independent Pharmacy Cooperative (advocating for PBM reforms)
- Fellow insurers: Cambia Health Solutions, Humana
- Industry associations: Pharmaceutical Care Management Association (representing competing PBMs)
Between the lines
The significant spending increase suggests CVS anticipates serious legislative threats to its PBM business model, which has faced growing scrutiny over pricing practices and market concentration.
Industry watchers should monitor committee activity on these bills closely, as CVS’s substantial investment indicates these policy battles will intensify throughout the year.