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.

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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 helps America’s largest employers stay ahead of employee benefit policy. ERIC member companies are leaders in every sector of the economy, and we represent them in their capacity as sponsors of employee benefit plans for their own workforce. Only ERIC provides the combination of intel, expertise, collaboration, and lobbying that exclusively serves the interests of large employers who provide health, retirement, and compensation benefits to their nationwide workforce.