Health insurance companies and pharmacy benefit managers (PBMs) negotiate significant rebates and discounts when purchasing medications from drug manufacturers, but fail to pass those rebates and discounts on to patients.
As a result, many insured Louisianans with chronic conditions are paying nearly double what their insurer is paying for lifesaving and life-sustaining medication.
Louisiana lawmakers are championing a simple solution – share the savings with our most vulnerable neighbors. This legislation would require insurers and PBMs to share the benefit of rebates and negotiated discounts directly with patients.
It is time to fix the financial burden placed on people living with chronic conditions.
The Patient Pocket Protector Coalition believes that prescription drug rebates should be shared with patients. 133 million American live with at least one chronic condition; 1 in 4 Americans live with 2 or more, and rebates for necessary prescription medications is, on average, 48%. Our goal is to protect patients’ pockets by holding politicians accountable for out-of-pocket costs and unregulated Pharmacy Benefit Managers.