Prescription Drug Prices
When families in Northeast Ohio go to the pharmacy counter, they shouldn't have to choose between filling a prescription and paying their utilities. The cost of prescription medications has been inflated by middlemen known as Pharmacy Benefit Managers (PBMs).
Our local pharmacies are being squeezed out of business and patients, including seniors on fixed incomes, are still paying the price. I am running to bring oversight to our healthcare system so that your healthcare dollars go toward your health.
PROBLEMS TO BE SOLVED
PBMs were designed to negotiate affordable prices for prescription medicines, but today, the three largest PBMs process nearly 80% of U.S. prescriptions. This monopolization leads to higher prices for Ohio's small employers and families.
Mike DeWine signed House Bill 229 into law, which establishes a licensure requirement for PBMs. However, during the legislative process, the Ohio Senate entirely removed a provision that explicitly prohibited PBMs from reimbursing independent pharmacies at lower rates than their own corporate-affiliated chains.
Savings negotiated by PBMs with drug manufacturers should be flowing to reduce patient out-of-pocket costs, but PBMs frequently keep these savings for themselves.
Goals
Reintroduce and pass reimbursement rules to ensure our pharmacies are not priced out of the market by corporate practices.
Support state legislation requiring PBMs to direct 100% of all negotiated manufacturer rebates directly to the consumer at point of sale.
Ensure the Superintendent of Insurance and Ohio's Department of Insurance utilize their authority to audit PBM rebate data, and enforce action against deceptive reimbursement structures.
We need a representative who reads the fine print and understands that a bill is not a victory if the most important consumer protections are stripped out. By demanding true accountability for PBMs, we can protect our local businesses, support our seniors, and lower healthcare costs for everyone in the district.