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:2/28/2017)... DUBLIN , Feb 28, 2017 ... "Digestive Enzyme Supplements Market Forecasts 2014-2025" report to their ... ... reach USD 1.6 billion by 2025. Growing consumer awareness regarding ... good health is expected to stimulate industry growth over the ...
(Date:2/27/2017)... 27, 2017 Halyard Health, Inc. (NYSE: ... and provided its 2017 outlook and related key planning assumptions. ... $410 million, a 2 percent increase compared to the prior ... 2016 was $10 million compared to net income of $15 ... net income was $24 million compared to adjusted net income ...
(Date:2/27/2017)... 27, 2017   Royal Philips (NYSE: ... leader in health technology, today announced 510(k) clearance ... to market its ElastQ Imaging capability, further expanding ... systems. ElastQ Imaging enables simultaneous imaging of tissue ... for the diagnosis of various liver conditions. With ...
Breaking Medicine Technology:
(Date:2/27/2017)... ... ... The threat of nuclear warfare has long plagued this world. In July of ... of nuclear weapons. Years later, when her co-workers began dying, Dot started searching for ... Clayton exposes the critical decisions made by agencies involved in the nuclear testing during ...
(Date:2/27/2017)... Orange County, CA (PRWEB) , ... February 27, 2017 , ... ... for periodontitis. Periodontitis is a chronic inflammatory gum condition that occurs when the bacteria ... of deep cleaning, also referred to as a scaling and root planing or SRP, ...
(Date:2/27/2017)... ... 26, 2017 , ... Miro is the ultimate smart media center that offers ... movies, TV shows and much more apps for user exploration. Its innovative acoustic design ... of 1280 x 720 provides crisp images with remarkable clarity and color. The WiFi ...
(Date:2/27/2017)... ... 2017 , ... Texas based retail electric company Discount Power ... (Residential Customer Equivalent) count exceeds 150,000. , Discount Power was acquired ... 2,250 RCEs at the time of acquisition. In the three years since the ...
(Date:2/27/2017)... ... February 27, 2017 , ... Silicon Valley Hair Institute, a ... new informational post on robotic hair transplantation. San Francisco residents may be confused ... Follicular Unit Transplantation (FUT) can sound similar. Either treatment can be used to ...
Breaking Medicine News(10 mins):