Navigation Links
PCMA: Mississippi's 'Secret Prescription Drug Tax' Will Raise Costs
Date:3/1/2011

WASHINGTON, March 1, 2011 /PRNewswire-USNewswire/ -- A bill that would tax the companies that manage prescription drug benefits – and subject them to regulation by the drugstore owners they contract with – will drive up prescription drug costs in Mississippi, according to the Pharmaceutical Care Management Association (PCMA), the trade group for America's pharmacy benefits managers (PBMs). PBMs manage drug benefits for most of America's businesses, state and federal government agencies, and Medicare Part D.

The bill, S.B. 2445, would impose new fees on PBMs and make them accountable to the State Board of Pharmacy, which consists largely of drugstore owners who traditionally oppose the cost cutting tools used by PBMs. Currently, PBMs are overseen by the State Insurance Commissioner – an office which has no financial stake in the outcome of its decisions.

"The companies that reduce prescription drug costs should not face new secret taxes or be regulated by the very drugstore owners they contract with. It's a conflict of interest that enables drugstore owners to give themselves a raise at the expense of those who pay for prescription drugs," said PCMA President and CEO Mark Merritt. "Ironically, Mississippi's Medicaid program currently wastes millions every year by paying drugstores more than twice what Medicare and the commercial market pay."

According to a recent report, Mississippi's Medicaid program could save $346 million over the next decade by managing pharmacy benefits more like typical state employee plans, commercial-sector employer plans, and Medicare Part D. In contrast to Mississippi, New Jersey Governor Chris Christie announced last week his 2012 budget will include a proposal to modernize the state's Medicaid program. Recent polling finds voters prefer this option to cutting benefits for patients or payments to doctors and hospitals.

Unlike the efforts by other states to lower prescription drug costs in Medicaid and other programs, passage of S.B. 2445 would ultimately result in increased costs for Mississippi consumers and payers.

PCMA represents the nation's pharmacy benefit managers (PBMs), which improve affordability and quality of care through the use of electronic prescribing (e-prescribing), generic alternatives, mail-service pharmacies, and other innovative tools for 200-plus million Americans.

Follow PCMA on Twitter


'/>"/>
SOURCE Pharmaceutical Care Management Association
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. PCMA: Independent Drugstore Lobby Continues Disclosure Double Standard Transparency Campaign
2. PCMA: Ohios Medicaid Program Could Save $135 Million
3. PCMA: Focus on Patients, Not Profits, in Medicaid Pharmacy
4. PCMA: Florida Could Reduce $462 Million in Wasteful Medicaid Pharmacy Spending
5. PCMA: Some Drugmakers Lobbying to Limit E-Prescribing of Generics, Drug Safety Checks
6. PCMA: Generics, Mail-Service Pharmacy Recognized as Ways to Reduce Costs for TRICARE Program
7. Global HIV Vaccine Enterprise Names Alan Bernstein as Inaugural Executive Director, Opens New Secretariat
8. Health Secretary Reminds Kids to Stop Germs - Wash Hands
9. New Data Shows Ranexa(R) Increases Glucose-Stimulated Insulin Secretion
10. Secretary Reinforces VAs Commitment to Research Safety and Veteran Focus
11. Wacker Validates Scalability of Anticalin(R) Production With E.coli Secretion Technology and Will Produce Pieris First Clinical Candidate PRS-050
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/2/2016)... -- PipelineRx, a leading medication management technology company focused ... its SaaS-based telepharmacy platform, PowerGridRx™ , at ... Clinical Meeting and Exhibition, December 5-7 in ... hospital clients nationally, the Company is a leader ... improve pharmacy operations, enhance patient safety, and reduce ...
(Date:12/2/2016)... -- On Thursday, December 1st 2016, the ... development and innovation in the biopharmaceutical industry at its ... the presence of Sergey Tsyb, Vice Minister of Industry ... , Natalia Sanina, First Vice Chairman of the State ... Roszdravnadzor, National Service of Control in Healthcare, Sergey Muravev, ...
(Date:12/2/2016)...  Eli Lilly and Company (NYSE: LLY ... provide updated financial guidance for 2016 on Thursday, December ... on that day with the investment community and media ... The conference call will begin at 10 a.m. ET. ... live webcast of the conference call through a link ...
Breaking Medicine Technology:
(Date:12/5/2016)... York (PRWEB) , ... December 05, 2016 , ... ... the ability of physical therapist assistants, under direct supervision of a licensed physical ... obtains physical therapy receives a consultation and treatment plan from a licensed physical ...
(Date:12/5/2016)... , ... December 05, 2016 , ... As renowned, board-certified ... the dangers and downsides of patients who do not do their research and undergo ... cosmetic dermatology is in the midst of a renaissance and every other month a ...
(Date:12/5/2016)... ... 2016 , ... Z-Medica, LLC, a leading developer and marketer ... College of Surgeons (ACS) to provide basic bleeding control instructor training to surgeons. ... is a pilot program that fulfills the intent of the White House’s “Stop ...
(Date:12/4/2016)... ... 03, 2016 , ... The Lymphoma Research Foundation (LRF) – ... serving the lymphoma community through a comprehensive series of education programs, outreach initiatives ... New York City, with long-time partners The Paul Foundation, on November 10, 2016. ...
(Date:12/4/2016)... ... December 03, 2016 , ... ... wins "Best Surgical Body Shaping" at the 2016 Anti-Aging & Beauty ... France. , The Aesthetic & Anti-Aging Medicine European Congress (AMEC) brings ...
Breaking Medicine News(10 mins):