(Washington, D.C.) — Pharmaceutical Care Management Association (PCMA) President and CEO JC Scott issued the following statement on the Administration’s announcement that the average basic premium for Medicare Part D prescription drug plans is projected to decline in 2020:
“The announcement that Medicare Part D premiums continue to decline is good news for seniors, and the Administration is to be commended for enacting policies to improve the program.
Pharmacy benefit managers (PBMs) have played a key role in the success of the Part D program through negotiations with drug manufacturers and the use of other drug cost management tools that generate savings for beneficiaries and taxpayers.
Increasing the use of PBM tools in Part D is an important step toward reducing drug costs going forward. As one important example, PBMs offer real-time benefit tools that provide cost information at the point of prescribing to physicians and patients.
Still, we understand that for too many people prescription drug prices are too high. We echo the Administration’s call for ‘increasing competition’ to reduce prescription drug prices and stand ready to work with the Administration and Congress to advance solutions that reduce drug costs.”