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:9/25/2017)... , Sept. 25, 2017   Montrium , ... File solutions, today—from the IQPC Trial Master Files ... , NL)—announced that EastHORN Clinical Services has selected ... programs and TMF management. EastHORN, a leading European ... platform to increase transparency to enable greater collaboration ...
(Date:9/22/2017)... -- AVACEN Medical (AVACEN) announced that its CE-Marked AVACEN ... with the widespread pain associated with fibromyalgia in the ... Essex, England commented, "I had difficulty ... sleep at all, tremendous pain, with every movement sending ... AVACEN 100] enough, how this has and is helping ...
(Date:9/18/2017)... R.I. , Sept. 18, 2017 /PRNewswire/ ... the fields of bioinformatics and immune engineering, ... a protective avian influenza A (H7N9) vaccine. ... distantly related to seasonal influenza and presents ... rely on prior exposure to be effective. ...
Breaking Medicine Technology:
(Date:10/13/2017)... ... October 13, 2017 , ... ... PharmD ‘17, and Jennifer Huggins, PharmD ’17, along with clinical associate professor ... prevention of cardiovascular diseases during the 15th Annual Women’s Health Conference. The ...
(Date:10/13/2017)... New York, NY (PRWEB) , ... October 13, 2017 , ... ... most influential people in business to advocate for action towards gender equality at their ... 18,000 views from around the globe, and reached a social audience of over 3 ...
(Date:10/13/2017)... ... , ... “The Journey: From the Mountains to the Mission Field”: the story ... the Philippines. “The Journey: From the Mountains to the Mission Field” is the creation ... has taught all ages and currently teaches a class of ladies at her church, ...
(Date:10/12/2017)... ... October 12, 2017 , ... The ... demand of today’s consumer and regulatory authorities worldwide. From Children’s to Adults 50+, ... to meet the highest standard. , These products are also: Gluten Free, ...
(Date:10/12/2017)... ANGELES (PRWEB) , ... October 12, 2017 , ... ... Parsa Mohebi Hair Restoration, has recently contributed a medical article to the newly ... on cosmetictown.com. Dr. Mohebi’s article spotlights the hair transplant procedure known as ...
Breaking Medicine News(10 mins):