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:8/2/2017)... , Aug. 2, 2017 Fenita ... Who as a Pinnacle Lifetime Professional in the ... Account Manager at Turing Pharmaceuticals, AG. Her skills ... and relationship building.                ... than 25 years of experience as a highly ...
(Date:8/2/2017)... , Aug. 2, 2017  Life Flight Network and PeaceHealth ... agreement improves patient care and operational efficiency for patients at ... , Cottage Grove , and ... transportation. PeaceHealth and Life Flight Network work collaboratively to move ... transport, or when a time sensitive emergency exists. ...
(Date:8/1/2017)...   CerSci Therapeutics , a non-opioid drug development ... has received notice from the National Institute on Drug ... that it has been awarded a Direct-to-Phase II Small ... 2017 with an additional $1,000,000 to follow in 2018. ... of their lead non-opioid drug candidate CT-044 to the ...
Breaking Medicine Technology:
(Date:8/23/2017)... ... August 23, 2017 , ... CEFEX, the Centre ... to the standards representing best practices in the retirement plan industry. The independent ... and helps to verify that NFP’s retirement division focuses on putting clients’ interests ...
(Date:8/23/2017)... Mesa, Arizona (PRWEB) , ... August 23, 2017 ... ... is in the top 20% of hospitals nationally that earned the designation of ... annual list. An overall rating of high performing indicates a hospital was significantly better ...
(Date:8/23/2017)... ... August 23, 2017 , ... TSC ... Awards® - for Risk Management Solution Innovations and Security Solution for Government Innovations. ... released in 2017 and its DHS SAFETY Act-designated enterprise security assessment approach. , ...
(Date:8/22/2017)... ... August 22, 2017 , ... The ... health is as simple as eating healthy foods. But this well-known piece of ... making insulin, or breaking apart carbohydrates—depends not only on properties of the food ...
(Date:8/22/2017)... ... ... Nurses at Apple Rehab Watch Hill , a nursing and rehabilitation ... in Closed Pulse Irrigation™ (CPI) for wound care. This qualifies Apple ... Medicare and Medicaid Services, to have a CPI machine that will provide better quality ...
Breaking Medicine News(10 mins):