TAPP Urges Senate to Enact PBM Reforms

The Trade Alliance to Promote Prosperity sent a letter to members of the U.S. Senate Health, Education, Labor, and Pensions (HELP) Committee, urging the enactment of Pharmacy Benefit Manager reforms.

TAPP believes that PBMs can have a role to play in the prescription drug marketplace; however, we believe Congress should support strong accountability and reforms for the PBM industry. Some reforms that we are urging Congress to enact to help lower drug costs:

  • Improve the existing incentives to lower drug costs by delinking PBM revenue streams from the price of medicines.  

  • Limit spread pricing within Medicaid.

  • Enact meaningful transparency reforms, including disclosure requirements, to benefit patients and employers.

  • Enact anti-steering laws to protect patients’ ability to choose their desired pharmacy.

  • In addition, PBMs should share savings that result from negotiations with manufacturers of prescription drugs with patients at the pharmacy counter.

Read the full TAPP letter to the Senate HELP Committee here.

Ainsley Shea