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:2/9/2016)... 9, 2016 The global prefilled syringes market ... is expected to grow with a CAGR of 12.9% ... syringes segment dominated the global prefilled syringes market, with ... --> The global market of prefilled syringes ... increasing geriatric population, increasing demand for vaccines, increasing prevalence ...
(Date:2/9/2016)... 2016  Increasingly, health care professionals are enhancing patient ... wireless technology. With the Vios Monitoring System from Vios ... remotely detect problems before they become serious by continuously ... the United States . ... --> The Vios Monitoring System connects ...
(Date:2/9/2016)... , Feb. 9, 2016 Athenex, Inc. announced ... as Vice President of Corporate Strategy and Business Development based ... MBA has joined as Senior Director and Deputy Head of Clinical Research ... . Simon Pedder stated, "Athenex has a ... a while. Coupled together with their unique business model and ...
Breaking Medicine Technology:
(Date:2/8/2016)... ... February 08, 2016 , ... The Federal ... federallabs.org . The site houses a wealth of federal resources that businesses ... the process called technology transfer (T2). As a network of over 300 federal ...
(Date:2/8/2016)... Peachtree City, GA (PRWEB) , ... February 08, 2016 , ... ... healthy and cavity-free. February is National Children’s Dental Health Month and family dentist Yvonne ... to 3 p.m. at Coast Dental , located next to Target at 1207 ...
(Date:2/8/2016)... ... February 08, 2016 , ... The Valentine’s Season is famous for gift giving with flowers, chocolates ... they are loved. This year, for more than 5.6 million Americans suffering with Alzheimer’s, ... be enough to remind them of the lives they’ve led and the people they’ve touched. ...
(Date:2/8/2016)... ... 08, 2016 , ... Brenton Engineering , powered by ... flow wrapped products at WestPack 2015, February 9-11, in Anaheim, California. This new ... semi-automatic or fully-automatic case packing with a small footprint, rugged, highly flexible, and ...
(Date:2/8/2016)... (PRWEB) , ... February 08, 2016 , ... ... footwear and clothing, announced expansion into Canada to provide its range of unique ... a sales office in Quebec City that will provide bilingual customer service and ...
Breaking Medicine News(10 mins):