PCMA: New Nevada Legislative Mandate to Increase Prescription Drug Costs for Consumers and Employers

WASHINGTON, June 7, 2017 /PRNewswire-USNewswire/ -- The Pharmaceutical Care Management Association (PCMA) today issued the following statement regarding legislation in Nevada, SB 539:

"The costly fiduciary mandate in this bill is similar to those that have been rejected by federal courts on constitutional grounds for conflicting with federal benefits law (Employee Retirement Income Security Act).

PBMs support transparency that offers consumers and plan sponsors like labor unions, employers, and health plans the information they need to make the choices that are right for them. However, this bill would grant the kind of transparency that the Federal Trade Commission and economists say will raise costs by giving drug companies inside information that would empower them to collude with their competitors."

PCMA is the national association representing America's pharmacy benefit managers (PBMs). PBMs administer prescription drug plans for more than 266 million Americans who have health insurance from a variety of sponsors including: commercial health plans, self-insured employer plans, union plans, Medicare Part D plans, the Federal Employees Health Benefits Program (FEHBP), state government employee plans, Medicaid plans, and others.

SOURCE Pharmaceutical Care Management Association