Congressman Jodey Arrington introduces bill that would lower drug prices for employers
Better deals and lower prices act
LUBBOCK, Texas (KCBD) - Imagine you are grocery shopping and you can only choose one brand of everything and you have no idea how much it costs. Well, that’s how congressman Jodey Arrington explains prescription drug prices.
He says his new legislation will now give the consumer the option to choose the lowest price.
“If you didn’t have the price, you wouldn’t know how to purchase what is best for your family and what was affordable for you family” Lubbock Congressman Jodey Arrington said.
Pharmacy benefit managers or PBM’s are the middleman between drug manufacturers and businesses, their sole job is to negotiate the best price for employers and their employees.
“But then they have what is called a rebate or what I refer to as a kickback, no patient, no employee, no employer can see what that kickback is, but it goes back to the insurer instead of coming in value, lower cost, to the consumer to the patient” Congressman Jodey Arrington said.
Because of this, employers have no idea of the actual cost of prescription drugs and if the deal they’re getting is as good as they think.
“Consumers don’t know what they’re getting for what they’re purchasing or what their options are” the congressman said.
That is why he introduced the better deals and lower prices act.
“We need to shine the light of transparency, so that when employers are negotiating with these insurance companies for their plan, they know where they can get the best deal” the congressman said.
This legislation would ensure pharmacy benefit managers can no longer hide prescription drug prices from customers and businesses when deciding which option is best for them.
“Healthy markets have information readily available to the consumer and that’s how you get the best value for the consumer and that’s how markets should work that’s not what’s happening in healthcare” the congressman said.
Congressman Arrington hopes this legilation will lower americas premiums and lower drug prices as a whole, and he said there is a lot more healthcare reform that needs to be done, this is just step one. The bill passed through the house ways and means committee today. Congressman Arrington said he is enthusiastic the legislation wont have many changes and will be voted through when the time comes.
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