Bile acid sequestrants are used to treat high cholesterol, itching caused by liver disease, and Type 2 diabetes. These medications work by binding to bile acids in your intestines, which helps to remove cholesterol from your body. Bile acid sequestrants are available in oral forms, such as tablets and powders. Examples include colestipol (Colestid), cholestyramine (Prevalite), and colesevelam (Welchol). You can discuss which option might be right for you with your healthcare team.