NE Washington News

Congressman Earl L. "Buddy" Carter, representing Georgia's 1st district and Chairman of the Subcommittee on Health, led a hearing to address concerns over pharmacy benefit managers (PBMs) and their impact on drug costs. The session, titled "An Examination of How Reining in PBMs Will Drive Competition and Lower Costs for Patients," focused on finding bipartisan solutions to reduce out-of-pocket expenses for patients.

Chairman Carter emphasized the importance of tackling abusive practices by PBMs that contribute to rising prescription drug costs. He stated, "Patients are counting on us to stop the abusive practices that drive up out-of-pocket costs on their prescription drugs." The hearing provided an opportunity for medical professionals and policy experts to discuss how increased transparency in the system could improve healthcare access for Americans.

Representative Diana Harshbarger from Tennessee highlighted the lack of direct patient care provided by PBMs. She remarked, "PBMs don't treat a single patient. They don't cure a single disease, and they don't insure a single American." Harshbarger stressed that PBM reform is essential as it enjoys bipartisan support.

Iowa Representative Mariannette Miller-Meeks criticized PBM middlemen for inflating drug prices and limiting access to medications. She pointed out that despite claims of reducing prices through rebates, patients often do not benefit from these discounts. Miller-Meeks noted that Medicare Part D beneficiaries frequently pay more than insurers due to inflated list prices designed to extract higher rebates.

Ohio Representative Troy Balderson addressed the issue of independent pharmacies closing across the country due to PBM practices. He shared concerns from his constituents about losing access to trusted local pharmacies, stating that this is a nationwide problem affecting both urban and rural areas.

The hearing underscored the need for reforms in how PBMs operate within the pharmaceutical industry to ensure fair pricing and maintain access to essential healthcare services.