New Legislation Could Increase Prescription Drug Costs Over $12 Billion For Florida Employers, Seniors, and Consumers

Mar 25, 2014, 15:22 ET from Pharmaceutical Care Management Association

WASHINGTON, March 25, 2014 /PRNewswire-USNewswire/ -- Legislation (HB 1001, HB 745, SB 1014 and SB 1354) being considered today by Florida lawmakers could increase prescription drug costs by more than $12 billion over the next 10 years for the state's employers, seniors, unions, and consumers, the Pharmaceutical Care Management Association (PCMA) said today.

"This legislation would force employers and consumers to pay more for prescription drugs," said PCMA President and CEO Mark Merritt. "Even worse, these bills would also make it harder to detect fraud, waste, and abuse at drugstores."

The bills (HB 1001, HB 745, SB 1014 and SB 1354) that could increase prescription drug costs by more than $12 billion over 10 years include:

  • Imposing new employer mandates that raise prescription drug costs and reduce choices
  • Granting drugstores new powers to avoid routine, anti-fraud audits 
  • Giving drugstores new powers to charge consumers more for prescription drugs
  • Forcing employers to pay more for prescription drugs

With the help of pharmacy benefit managers (PBMs), Florida consumers, employers, unions, and the state government will save $97.5 billion in prescription drug costs over the next decade. PBMs accomplish this by:

  • Negotiating discounts from drugstores and drug manufacturers
  • Offering home delivery of medicines
  • Encouraging the use of generics and less expensive brands
  • Using cutting-edge tools to improve medication adherence
  • Improving quality and safety

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 216 million Americans.

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SOURCE Pharmaceutical Care Management Association