America’s employers are increasingly highlighting the value that pharmacy benefit managers (PBMs) provide as critical partners in providing affordable, high-quality health care benefits for their employees. Business leaders from across the country are voicing their concerns with misguided proposals targeting PBMs and underscoring how pharmacy benefit companies provide flexibility and a range of choices that allow them to design prescription drug benefits that work best for their unique needs.
See what employers are saying:
Alabama Political Reporter writes:
“Recently dozens of employers signed a letter to members of the congressional delegation urging Congress to oppose policies targeting Pharmacy Benefit Managers (PBMs). The employers write: “Our ability to offer quality, competitive coverage, and continue to rely on significant savings hangs in the balance. Going forward, Congress must continue to recognize the disastrous consequences of government intervention targeting pharmacy benefits that would increase costs for employers, taxpayers, and consumers, while boosting profits for Big Pharma — and reject these pharma-backed proposals if they resurface in the future.”
Charles Barbour, entrepreneur, Mississippi, in Mississippi Business Journal:
“So-called “delinking” policies come with a $26.6 billion health care premium increase in the commercial health insurance market. It comes as no surprise that when PBMs are weakened, Big Pharma stands to gain a whopping $22 billion financial bailout annually…
“Anyone who owns a business knows that being able to offer quality and affordable prescription drug coverage is critical to being successful and competitive in today’s labor market. Congress made the right move for employers, families and taxpayers everywhere in March when they chose to omit proposals targeting pharmacy benefit companies in the latest spending package, but we know the fight is far from over.”
Ronnie Kearns, business owner, Alabama, in Alabama Political Reporter:
“Alabama’s legislators have a unique opportunity to champion free market principles in the pharmaceutical sector. This is not just for the sake of businesses, small and large, but also for the well-being of our hardworking employees. Increasing government regulation is rarely the answer, and this matter is no exception. By opposing policies that provide the government free reign in yet another sector and protecting our pharmacy benefits, we are not just advocating for businesses but for the principles that drive our economy and ensure the best interests of citizens’ constituents are served.”
Mark Olson, small business owner, Minnesota, in the Hometown Patriot:
“Requiring rebate pass-through for every PBM-plan sponsor relationship does nothing but allow the government to dictate how a plan sponsor is able to design their benefits. Many people already choose rebate pass-through, which is great, but we shouldn’t let the government take away the flexibility and choice we need when it comes to our benefits.”
Eric Hare, business owner, Alabama, in 1819 News:
“As it stands now, health plan sponsors like me get to choose if we want 100 percent of our rebates passed back to us or if we choose another model. Choices in the marketplace are essential for business owners and anyone else offering coverage. We do not need Congress dictating our choices for us.”
Rick Van Warner, former business owner, in Florida Voice News:
“Sadly, recent federal proposals would undermine their ability to help employers secure savings for their employees by negotiating with large pharmaceutical companies. It’s a bad idea that would serve to further complicate the already dizzying health care landscape that businesses in Florida and across the nation must navigate daily.”
Josh Randell, small business owner, Ohio, in The Advertiser-Tribune:
“As a small business owner, I’ve unfortunately seen firsthand the impact of rising healthcare and prescription drug costs in Ohio on employers, employees and families. Costs and expenses are simply out of control. Congress isn’t helping. Instead of enacting policies to increase healthcare competition, they’re focused on adding more bureaucracy and mandates to the entire system by restricting our pharmacy benefits.”
William Bailey, business owner, Alabama, in the Alabama Political Reporter:
“A PBM is basically the lieutenant that many business owners who offer health plans (and even the government!) hire to negotiate effectively with drug companies and achieve bulk price discounts and fair drug pricing terms for their members. The savings PBMs secure on our drug costs – one of the most expensive portions of any healthcare package – allow us to expand our coverage and give our employees a solid healthcare plan for themselves and their families.”
If drug companies get their way and Congress passes proposals that undermine the role of PBMs, then employers and other health plan sponsors, along with the patients who rely on these health benefits, will be the ones to bear significant negative consequences. Congress should safeguard employers’ ability to offer quality affordable prescription drug benefits.
Learn more about the PBM-employer relationship from PCMA’s new How PBMs Work campaign HERE.
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PCMA is the national association representing America’s pharmacy benefit companies. Pharmacy benefit companies are working every day to secure savings, enable better health outcomes, and support access to quality prescription drug coverage for more than 275 million patients.
