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:2/24/2017)... 2017  Today, exocad America and the Biodenta ... new path to produce 510(K) cleared, in-house milled, ... integrated into exocad DentalCAD software. In order to ... Manufacturing Processes (GMP,s) into their organization, sign up ... an audit process. Then, dental labs can use Biodenta,s ...
(Date:2/24/2017)... Research and Markets has announced the addition of ... to 2025" report to their offering. ... The Global Empty Capsules Market is poised to grow ... approximately $2.9 billion by 2025. This industry report analyzes ... as well as regional levels presented in the research scope. The study ...
(Date:2/24/2017)... Feb. 24, 2017  In conjunction with DURECT Corporation,s ... results press release, you are invited to listen to ... the internet on Tuesday, March 14, 2017 at 4:30 ... A live audio webcast of the presentation will be ... and clicking "Investor Relations."  If you are unable to ...
Breaking Medicine Technology:
(Date:2/27/2017)... TX (PRWEB) , ... February 27, 2017 , ... ... 75,000 customer threshold mark last week. In addition, Discount Power's RCE (Residential Customer ... Energy LLC in March 2014. The company had 800 customers and 2,250 RCEs ...
(Date:2/27/2017)... ... February 27, 2017 , ... Silicon Valley Hair ... announce a new informational post on robotic hair transplantation. San Francisco residents may ... transplant and Follicular Unit Transplantation (FUT) can sound similar. Either treatment can be ...
(Date:2/27/2017)... ... ... New Jersey ranks among the top five states in the entire nation ... advanced services is growing. , Project WE vs C is a focused two-year ... non-profit partners in their fight against cancer and in support of their shared mission ...
(Date:2/26/2017)... Como, Italy (PRWEB) , ... February 26, 2017 ... ... its last call for entries to the 7th Edition of International Social Design ... by Social Design Professionals, Product Designers, System Designers, Governments and Institutions worldwide with ...
(Date:2/26/2017)... ... February 26, 2017 , ... NuevaCare, a leading home care agency based in ... Palo Alto, is proud to announce an important upgrade to its geographic information pages, ... care close to home, and by having city-specific pages, NuevaCare is answering that information ...
Breaking Medicine News(10 mins):