RELEASE: House Passes Auchincloss-Led Legislation to Lower Prescription Drug Prices for Medicaid Patients
“For far too long, PBMs have been allowed to collect taxpayer dollars without reducing the costs of drugs for Medicaid patients.”
WASHINGTON, D.C. – The House of Representatives passed a bill co-led by Congressman Jake Auchincloss (D, MA-04), the Drug Price Transparency in Medicaid Act, to lower prescription drug prices for Medicaid patients, as part of the broader Lower Costs, More Transparency Act. The bipartisan legislation takes important steps to rein in Pharmacy Benefit Managers (PBMs) – the middlemen of drug pricing – by prohibiting the use of spread pricing in Medicaid programs. The package will now be sent to the Senate for consideration.
The bill was introduced by Congressman Earl L. “Buddy” Carter (R, GA-01), and co-led by Congressman Vicente Gonzalez (D, TX-34), Congresswoman Elise Stefanik (R, NY-21), Congresswoman Deborah Ross (D, NC-02), and Congressman Rick Allen (R, GA-12).
"For far too long, PBMs have been allowed to collect taxpayer dollars without reducing the costs of drugs for Medicaid patients. Increasing transparency in pricing and cracking down on PBMs will put money back where it belongs – into the pockets of patients dependent on life-saving medication. This bill builds on the work done last Congress to lower the cost of drugs and finally holds PBMs accountable,” said Congressman Auchincloss.
Throughout his time in office, Auchincloss has made lowering prescription drug prices a top priority. He has supported efforts to cap out-of-pocket costs for seniors, continue Medicare negotiation of drug prices, and increase access to cutting-edge gene therapies for individuals with rare diseases. The Congressman is also a cosponsor of the HELP Copays Act and the Protecting Patients Against PBM Abuses Act to ensure cost is not a barrier to patients receiving the medications they need.