ERIC Works to Make Prescription Drug Costs More Transparent

For Immediate Release

Washington, DC – The ERISA Industry Committee (ERIC) sent a letter to the U.S. Senate urging lawmakers to support S. 2554, the “Patient Right to Know Drug Prices Act.” The bill would ban so-called “gag clauses” in group health plans and individual market health insurance plans. These clauses prevent pharmacists from informing a patient that filling a prescription might be cheaper if the patient pays cash, rather than the negotiated copay under their insurance coverage.

ERIC’s letter also called for Senators to oppose amendment 4011, which could strip these protections from millions of individuals who have health insurance plans that are subject to state regulation.

“ERIC’s members provide robust health care plans to their employees that include generous coverage of prescription medications, but they –and every American –deserve to be protected from the deceptive practice of gag clauses,” said James Gelfand, Senior Vice President of Health Policy, ERIC. “Removing protections for those with fully-insured plans would be especially damaging for individuals purchasing coverage on their own, the self-employed, and those who get their insurance through a small business.”

Click here to read ERIC’s letter.

###

All media inquiries to The ERISA Industry Committee should be directed to:

Kelly Broadway, 202.627.1918, kbroadway@eric.org

About the ERISA Industry Committee
ERIC is the only national association that advocates exclusively for large employer plan sponsors on health, retirement, compensation, and paid leave public policies at the federal, state, and local levels. With member companies that are leaders in every sector of the economy, ERIC promotes uniformity and flexibility for nationwide benefit plans.