A proposed bipartisan, bicameral bill introduced in the Senate would prohibit an insurer or a parent company of a pharmacy benefit manager from owning a pharmacy business.

If passed, big insurers such as CVS Health, which owns Aetna; Cigna; and UnitedHealth Group would be forced to divest of any pharmacy assets.

CVS Health owns the PBM CVS Caremark and also the CVS Pharmacy business.