(Washington, DC)—The Pharmaceutical Care Management Association (PCMA) today issued the following statement regarding the introduction of HR 1474, “the Fair and Speedy Treatment (FAST) of Medicare Prescription Drug Claims Act.” HR 1474 is sponsored by Representatives Marion Berry (D-Ark.) and Walter Jones (R-N.C.):

“Regrettably, the Berry-Jones legislation is nothing more than a fast track to higher prescription drug costs for seniors and Medicare Part D. While HR 1474 may be a boon to the independent drugstore lobby, similar legislation introduced in the last Congress would have increased Medicare costs by $55 billion and, in addition, would have increased beneficiaries’ premiums, cost-sharing, and out-of-pocket costs by more than $30 billion over ten years. PCMA looks forward to reviewing this new proposal in greater detail.

“PCMA member companies have pledged to pay pharmacists for Medicare Part D pharmacy claims within 30 days of receipt of clean claims, a standard consistent with Medicare Parts A & B, 43 states, and the federal employees’ health plan. Last year, a survey conducted by the Centers for Medicare & Medicaid Services (CMS) found that 18 of the top 20 Medicare prescription drug plans (PDPs) were paying pharmacy claims on a twice-a-month billing cycle of 15 days or less. CMS also stated that, ‘outside of Medicare, payment within 30 days is largely the industry standard, indicating that the payment timelines in Medicare are comparable to or better than those that exist elsewhere in the health insurance industry.’

“In the new PAYGO environment on Capitol Hill, policymakers are looking for real solutions to expand access, reduce costs, and promote innovation. Unfortunately, the Berry-Jones bill is a recycled and tired effort to force seniors and taxpayers to pay higher drug prices in the name of ‘pharmacy protection.’ America’s Medicare beneficiaries deserve better.”

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PCMA is the national association representing America’s pharmacy benefit managers (PBMs), which lower the cost of prescription drugs for more than 200 million Americans with coverage provided through Fortune 500 employers, health insurers, labor unions, and Medicare Part D

Contact Information:
Phil Blando, 202-207-3614
Charles Coté 202-207-3605