Navigation Links
Win for Consumers and Payers: Maine Repeals Costly PBM Fiduciary-Disclosure Law
Date:6/29/2011

WASHINGTON, June 29, 2011 /PRNewswire-USNewswire/ -- In a clear victory for consumers and employers, the Maine state legislature voted yesterday to repeal the state's costly law mandating fiduciary-disclosure requirements on pharmacy benefit managers (PBMs).  The law had forced all employers into a mandated state-prescribed contract model for pharmacy benefits and also required the disclosure of proprietary financial contract terms between PBMs and their health plan and employer clients.

The Pharmaceutical Care Management Association (PCMA) and other supporters of repealing the law – including the state employees plan, employers, and consumers – said the law eliminated competition among pharmacy benefit managers and increased prescription drug costs.

"Legislators across the country are learning that anti-PBM laws simply increase health care costs," said PCMA President and CEO Mark Merritt.  "This sends a signal to other states that may consider anti-PBM laws:  buyer beware."

PBMs reduce health costs for employers, unions, Medicare Part D and other payers by negotiating discounts from drugstores and drug manufacturers, increasing the use of more affordable generic options, and introducing other cost-saving innovations like 90-day home delivery of prescription medications.

Since the enactment of the Maine legislation in 2003, more than 30 states have considered and ultimately rejected similar legislation because it would lead to increased costs without any benefit for consumers.  For these reasons, a broad coalition of consumers, Fortune 500 employers, labor unions, health insurers, and others have worked together to defeat these proposals at the state level across the country.

Maine was the only state that imposed such fiduciary-disclosure requirements on PBMs. The Federal Trade Commission (FTC) has explored this issue numerous times and found that the wrong kind of transparency increases, rather than decreases, costs.

The savings PBMs provide have been recognized by numerous government and independent analyses.  In recent years, the FTC, Government Accountability Office (GAO), and the Centers for Medicare & Medicaid Services (CMS) have all highlighted the substantial savings generated by PBMs for public and private 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. Agriculture Department Warns Consumers of Tainted Raw Milk Sold by Chester County Dairy
2. Dog Law Officers Crackdown on Unsatisfactory Kennels Protecting Animals, Consumers
3. Survey Finds At-Risk Consumers Interested in OTC Statin
4. Agriculture Department Warns Consumers of Tainted Raw Milk Sold by Lebanon County Dairy
5. FDA Warns Consumers about Counterfeit Alli
6. New Study Links dLife to Increased Rx Drug Usage Among Diabetes Consumers
7. FDA Warning: Consumers Advised Not to Use Arrow Brand Medicated Oil & - Embrocation or Aceite Medicinal La Flecha
8. HealthWarehouse.com Now Offers Over 1,000 Medications Under $25 Bringing Increased Affordability to Consumers
9. FDA to Communicate Safety Monitoring Activities to Consumers and Health Care Professionals
10. Consumers at Risk: One in Six Wood Pallets in Los Angeles Discovered With Potentially Deadly Pathogens
11. Enactment of New FSA Restriction Will Pose Problems for Consumers, Retailers and Benefit Providers
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... DUBLIN , June 23, 2016 ... the "Surgical Procedure Volumes: Global Analysis (United States, ... Australia, Canada)" report to their offering. ... an essential tool for healthcare business planners, provides surgical ... looks at surgery trends with an in-depth analysis of ...
(Date:6/23/2016)... , June 23, 2016 ... but it continues to present great opportunities to investors. ... for today: Intrexon Corp. (NYSE: XON ), ... Pharmaceuticals Inc. (NASDAQ: ARNA ), and Regeneron ... about these stocks and receive your complimentary trade alerts ...
(Date:6/23/2016)... 23, 2016 Leading BioSciences Inc., a ... conditions resulting from a breakdown of the mucosal ... Greg Doyle as chief executive officer. Mr. ... management team and board of directors, previously served ... He will provide continued leadership and strategic direction ...
Breaking Medicine Technology:
(Date:6/25/2016)... ... June 25, 2016 , ... Experts ... applications at AcademyHealth’s Annual Research Meeting June 26-28, 2016, at the Hynes Convention ... health care topics including advance care planning, healthcare costs and patient and family ...
(Date:6/25/2016)... ... 25, 2016 , ... "With 30 hand-drawn hand gesture animations, FCPX users can ... CEO of Pixel Film Studios. , ProHand Cartoon’s package transforms over 1,300 hand-drawn ... X . Simply select a ProHand generator and drag it above media or text ...
(Date:6/25/2016)... ... June 25, 2016 , ... Dr. Calvin Johnson has ... he has implemented orthobiologic procedures as a method for treating his patients. The ... first doctors to perform the treatment. Orthobiologics are substances that orthopaedic surgeons use ...
(Date:6/24/2016)... ... , ... A recent article published June 14 on E Online ... on to state that individuals are now more comfortable seeking to undergo not only ... calf and cheek reduction. The Los Angeles area medical group, Beverly Hills Physicians (BHP) ...
(Date:6/24/2016)... ... , ... Marcy was in a crisis. Her son James, eight, was out of control. Prone ... physically. , “When something upset him, he couldn’t control his emotions,” remembers Marcy. “If ... at my other children and say he was going to kill them. If we ...
Breaking Medicine News(10 mins):