Navigation Links
Win for Consumers and Payers: Maine Repeals Costly PBM Fiduciary-Disclosure Law

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. 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:
(Date:6/23/2016)... 23, 2016 Research and Markets ... Market by Type (Organic Chemical (Sugar, Petrochemical, Glycerin), Inorganic ... Coating, Parenteral) - Global Forecast to 2021" report ... The global pharmaceutical excipients market is projected to ... of 6.1% in the forecast period 2016 to 2021. ...
(Date:6/23/2016)... -- Roche (SIX: RO, ROG; OTCQX: RHHBY) announced that ... PCT (procalcitonin) assay as a dedicated testing solution for ... clearance, Roche is the first IVD company in the ... risk assessment and management. PCT is a ... in blood can aid clinicians in assessing the risk ...
(Date:6/23/2016)... ANGELES , June 23, 2016 ... CAPR ), a biotechnology company focused ... therapeutics, today announced that patient enrollment in its ... in Duchenne) has exceeded 50% of its 24-patient ... enrollment in the third quarter of 2016, and ...
Breaking Medicine Technology:
(Date:6/26/2016)... Clarkston, Michigan (PRWEB) , ... June 26, 2016 ... ... respect to fertility once they have been diagnosed with endometriosis. These women need ... but they also require a comprehensive approach that can help for preservation of ...
(Date:6/25/2016)... ... June 25, 2016 , ... "With 30 hand-drawn hand gesture animations, FCPX ... Austin - CEO of Pixel Film Studios. , ProHand Cartoon’s package transforms over ... Cut Pro X . Simply select a ProHand generator and drag it above media ...
(Date:6/25/2016)... ... , ... On Friday, June 10, Van Mitchell, Secretary of the Maryland Department ... in recognition of their exemplary accomplishments in worksite health promotion. , The Wellness at ... Wellness Symposium at the BWI Marriott in Linthicum Heights. iHire was one of 42 ...
(Date:6/24/2016)... ... ... June 19, 2016 is World Sickle Cell Observance Day. In an effort ... holistic treatments, Serenity Recovery Center of Marne, Michigan, has issued a pain ... Disease (SCD) is a disorder of the red blood cells, which can cause episodes ...
(Date:6/24/2016)... (PRWEB) , ... June 24, 2016 , ... ... now offering micro-osteoperforation for accelerated orthodontic treatment. Dr. Cheng has extensive experience with ... Damon brackets , AcceleDent, and accelerated osteogenic orthodontics. , Micro-osteoperforation is a ...
Breaking Medicine News(10 mins):