To the editor,
As Wisconsinites, we understand the critical role that affordable health care plays in our well-being. Amid discussions about soaring prescription drug prices, one aspect often …
To the editor,
As Wisconsinites, we understand the critical role that affordable health care plays in our well-being. Amid discussions about soaring prescription drug prices, one aspect often overlooked is the vital contribution of pharmacy benefit companies in reducing costs for both health plan providers and patients.
These companies negotiate with drug manufacturers to secure lower prices on medications. This not only benefits patients who rely on these prescriptions, but also lightens the financial burden on health plan sponsors, including small business owners. By ensuring access to cost-effective medications and preventing patients and families from enduring Big Pharma’s price-gouging tactics, pharmacy benefit companies play a pivotal role in safeguarding the health of our communities.
The prescription drug supply chain has long been marred by Big Pharma’s monopolies, hindering competition that helps drive prices down in a free market. Pharmacy benefit companies disrupt this trend, introducing competition that helps lower prescription drug costs. This healthy market dynamic ensures that the focus remains on providing accessible, quality health care rather than maximizing profits at the expense of patients and taxpayers.
One proposed policy to ‘de-link’ how PBMs are compensated for securing greater savings would increase premiums in the commercial health insurance market by $26.6 billion annually and dramatically reduce the amount of rebates passed down to plan sponsors to help families and patients.
Our federal elected officials representing Wisconsin and nationwide must oppose legislation attempting to undermine pharmacy benefit companies’ ability to secure greater rebates. By doing so, we can safeguard our access to affordable prescriptions and promote a thriving free market that prioritizes competition and the long-term prosperity of all.
John Danneker, retired business owner