(Washington, D.C.) — Pharmaceutical Care Management Association (PCMA) President and CEO JC Scott issued the following statement on the Ways and Means Committee’s inclusion of full repeal of the rebate rule in the committee’s “Build Back Better Act:”
“We applaud Chairman Richard Neal, and members of the Ways and Means Committee, for including a permanent repeal of the Medicare Part D rebate rule in its budget legislation.
“It is encouraging that the committee recognizes the rebate rule could destabilize the successful Medicare Part D drug benefit. The Congressional Budget Office and Medicare actuaries’ analyses of the rebate rule make clear that it will drastically increase Part D premiums for seniors, while significantly increasing costs for taxpayers.
“Pharmacy benefit managers, PBMs, will continue to work on behalf of Medicare beneficiaries to lower prescription drug costs and look forward to working with Congress and the Administration on policies to lower drug costs and out-of-pocket costs for all patients.”
PCMA is the national association representing America’s pharmacy benefit managers (PBMs). PBMs administer prescription drug plans for more than 266 million Americans who have health insurance from a variety of sponsors including: commercial health plans, self-insured employer plans, union plans, Medicare Part D plans, the Federal Employees Health Benefits Program (FEHBP), state government employee plans, Medicaid plans, and others.