For too long, PBMs have had abusive practices that remove a patient's choice in pharmacies, underpay pharmacists, and keep medication costs high - or even raise them!
Independent pharmacy is at risk. Many pharmacies will close due to these continued, deep cuts. Over 70% of our insurance claims pay out less than the cost of dispensing the medication.
We are trying to pass 2 bills this session that will help curb and regulate PBMs, and we need the community support!
What Are PBMs?
A PBM is a Pharmacy Benefits Manager. They are the business in between a pharmacy and an insurance company. There are so many different plans and patients and prescriptions, a PBM was created to help handle all the transactions.
Now, they yield way too much power, leading to abuses of the system on NY taxpayers AND NY pharmacists.
One thing they do is called "spread pricing." They pay a pharmacy $1 for a prescription, then tell the insurance they charged $30. In NY Medicaid alone, this amount is near $300 million.
They've stolen this $300 million from providers, under paying us for our services. We often LOSE MONEY on each prescription we fill.
They've also stolen this from us taxpayers. Prices remain high because a big chunk of money is going to PBM profits.
What Can You Do?
Read the full report from NYS Senator Skoufis on PBMs found here.
Fill out the form here to auto-send a letter about one of the bills here:
Contact your representative in the Assembly and Senate by phone. It's simple!
- Find your Assemblymember contact info here.
- Tell the office staff who you are and where you live
- Tell them "I think PBM practices are unfair. I support the legislation trying to rein in these abusive practices and I want your office to do the same."
- The current bills are : A.2795 and A.2836
- Then, repeat this for your Senator. Find their contact info here. The bills in the Senate are: S.5923 and S.6531
Contact Neal if you have any questions at 845-679-0790!