WASHINGTON – December 13, 2023 – The ERISA Industry Committee (ERIC) commended the House of Representatives for passing the Lower Costs, More Transparency Act (H.R. 5378), a bipartisan bill aimed at providing more transparency to the U.S. health care system.
“We applaud passage of this legislation as an important, positive step towards more health care transparency, and solutions to address the impact of provider consolidation and anti-competitive practices,” said James Gelfand, President and CEO of ERIC. “We hope that this beginning salvo will lead to more, as the Senate considers additional PBM accountability reforms, such as those in the Pharmacy Benefit Manager Reform Act (S. 1339), to further drive meaningful change. The 118th Congress should pass a comprehensive bill that advances site-neutral payments, ends dishonest billing, and reforms the PBM industry, to empower employers to fight for better value for workers, families, and retirees everywhere.”