WASHINGTON, February 2, 2023 – The ERISA Industry Committee (ERIC) today submitted a letter to Senate champions of the “Pharmacy Benefit Manager Transparency Act” (PBMTA, S. 127) outlining serious concerns with the legislation.
“ERIC has worked with a broad range of stakeholders to develop and propose reform measures to address the lack of transparency and accountability in the prescription drug supply chain, especially as it relates to PBMs,” said James Gelfand, President of ERIC. “ERIC is confident that Congress can develop bipartisan legislation that will not only protect independent pharmacies, but also help patients, by empowering their employers to lower drug prices with transparency and accountability for PBMs.”
ERIC outlines five concerns with the legislative language that must be addressed before PBM legislation can earn the support of employers, who pay the vast majority of health care costs on behalf of more than 155 million Americans.
Click HERE to read ERIC’s concerns.
