PCMA Again Stresses Importance of Educating Seniors and Disabled about New Benefits

Washington, DC; 08.10.04 — The Pharmaceutical Care Management Association (PCMA) released the following statement regarding a survey released today by the Kaiser Family Foundation on attitudes toward the new Medicare part D prescription drug benefit. PCMA is the national association representing America’s pharmacy benefit managers (PBMs):

“Once again the Kaiser Family Foundation has chosen to issue a report that plays into the hands of those seeking to undermine the new Medicare prescription drug benefit. This time, it’s a survey highlighting seniors’ concerns about the program even before the regulations governing the new benefit were released.”

“The potential savings for Medicare enrollees are real. A PCMA analysis conducted by PricewaterhouseCoopers shows that market-based pharmacy benefit management will save Medicare beneficiaries in private plans $693 billion during the next ten years. In 2005, these savings translate to $937 per Medicare beneficiary with prescription drug coverage through Medicare Advantage plans, Medicare supplemental policies, and employer-sponsored retiree coverage.”

“Study after study by authorities such as the Congressional Budget Office, Federal Trade Commission, and General Accounting Office show that PBMs enhance access to affordable prescription drug benefits. Rather than reverting to a one-size-fits-all government system, the new drug benefit should be given a chance to build on the proven success the PBM model has brought the private marketplace.”

“PCMA and its member companies stand ready to work with Congress and the Administration to ensure that the new Medicare drug benefit works for America’s seniors and disabled. We urge other interested parties to join us in that effort.”

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The Pharmaceutical Care Management Association (PCMA) is the national trade association representing America’s pharmaceutical benefit managers (PBMs). PCMA member companies provide pharmaceutical care management services to more than 200 million Americans.

Contact Information:
Phil Blando
202-207-3614