Accountability project launched to lower prescription drug prices
TALLAHASSEE, Fla. (FLV) – The Pharmacy Benefit Managers Accountability Project of Florida was formed by groups across the state, intending to support legislation aimed at protecting small businesses and patients from predatory business practices.
The coalition announced Wednesday is made up of prominent figures from Florida’s business and healthcare communities as well as policy analysts and patient advocacy organizations.
Pharmacy Benefit Managers, or PBMs, act as the middleman for insurance companies and pharmacies and can drive up costs for consumers.
Former state Sen. John Grant, president of Seniors Across America and member of the PBM Accountability Project of Florida, spoke about the issues seniors are facing, including drug price inflation.
“Already, Florida’s seniors are dealing with the increasing impacts of inflation. They simply cannot afford the additional financial strain of higher drug prices driven by PBM greed,” Grant said. “Our seniors deserve better, and by working together, we can form common-sense policy that will benefit all Floridians.”
The group expressed their support for both SB 1550 by Sen. Jason Brodeur, R-Lake Mary, and HB 1509 by Rep. Linda Chaney, R-St. Petersburg Beach.
Gov. Ron DeSantis has previously called for legislation banning spread pricing where PBMs overcharge and protect small businesses from surprise bills and clawbacks, months after filling a prescription.
The PBM Accountability Project of Florida specifically requests that the legislature forbid PBMs from compelling customers to use PBM-owned pharmacies and mail-order businesses.
Additionally, the PBM Accountability Project wants the Legislature to mandate that PBMs inform the state of the amount of money they spend on purchasing medications.
The PBM Accountability Project of Florida said it will “work to educate fellow Floridians about the role PBMs play in manipulating prescription drug prices and advocate for effective solutions that benefit Florida’s businesses, taxpayers, and ultimately patients at the pharmacy counter.”
