Pharmacy Benefit Manages act a a mediator between drug manufacturers and health insurance providers. They use their negotiating power to garner rebates and discounts for insurers, which could be passed on to consumers. These entities control which drugs are covered under consumers’ health plans, and how much consumers will pay for those drugs. Under current legislation, consumers have no choice in the price they pay for their drugs. In some instances, consumers could save money by paying the retail price of a drug rather than the copay required by their insurance plan.
HB 370 empowers consumers to make the affordable choice. It also holds PBMs accountable by the public for how they manage the discounts and rebates they receive from pharmaceutical manufacturers. Help this good bill get passed in the Senate!