Navigation Links
PCMA: Mississippi's 'Secret Prescription Drug Tax' Will Raise Costs

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:
(Date:11/30/2015)... , Nov. 30, 2015   Royal Philips ... Implant, the industry,s first MRI guided user interface and ... of patients with MR Conditional implants, such as knee ... 2015 Radiological Society of North America Annual Meeting ... and supports diagnostic confidence of this growing patient population. ...
(Date:11/30/2015)... BOCA RATON, Fla. , Nov. 30, ... of Public Research (the Institute) announced today that ... , a medical device start-up company with technology developed ... creation based on publicly-funded research, and bridges early funding ... -based universities and research institutions. ...
(Date:11/30/2015)... Nov. 30, 2015 Baxalta Incorporated ... leader dedicated to delivering transformative therapies to ... conditions, today announced the launch and first ... an extended circulating half-life recombinant factor VIII ... full-length ADVATE [Antihemophilic Factor (Recombinant)]. The treatment ...
Breaking Medicine Technology:
(Date:11/30/2015)... ... November 30, 2015 , ... ... Centers’ National Poison Data System (NPDS) reveals that in 2014, someone called a ... cases, over two million of which were human exposure cases. , The American ...
(Date:11/30/2015)... ... November 30, 2015 , ... Brenntag Specialties, Inc. ... partner for the Nutraceutical Specialties products into oral solid dosage in the over ... , “We are pleased to announce our expanded distribution agreement with ASI.” said ...
(Date:11/30/2015)... ... November 30, 2015 , ... ... announced at the Radiology Society of North America (RSNA) annual meeting, being held ... 60% growth from 2014. Throughout 2015, the company has completed installations for ...
(Date:11/30/2015)... ... November 30, 2015 , ... Holcomb – Kreithen Plastic ... surgery practices in Florida, is proud to announce that Dr. Joshua Kreithen, one ... Ethicon Inc., a Johnson & Johnson Company. , Ethicon is a global medical ...
(Date:11/30/2015)... (PRWEB) , ... November 30, 2015 , ... ... strategic alliance around Novus’ TIGR® Matrix Surgical Mesh technology for soft tissue repair ... polymers, TIGR® Matrix is a long-term resorbable surgical mesh intended to support and ...
Breaking Medicine News(10 mins):