CVS Caremark More Than Doubles Lobbying Expenditures
The company with the most drug stores in the country doubled their lobbying expenditures at the same time the President Obama’s Affordable Care Act took effect.
CVS Caremark reported spending $4,908,939 on lobbying activities during the 4th quarter of 2013. This is more than double the $2,209,926 reported for the third quarter of 2013. For all of 2013, CVS Caremark spent $13,128,502.
In the fall, CVS Caremark launched an information and outreach program to help people understand President Obama’s Affordable Care Act and its new benefits. The company held events and provided brochures at their 7,400 retail stores and 650 MinuteClinics.
The company lobbied on pharmacy issues, Medicare Part D, the anti-trust exemption for certain pharmacies, Medicaid, prescription drugs, restructuring of corporate taxes, among other issues.