WASHINGTON, DC – Congresswoman Nicole Malliotakis, a member of the House Committee on Ways and Means, today announced her legislation, the Protecting Patients from Middlemen Act, passed out of the full committee and will be included in the committee’s Health Care Price Transparency Act of 2023.
Specifically, Malliotakis’ legislation, which was introduced in partnership with Rep. Brad Wenstrup (OH-02), would prohibit prescription drug plans and Pharmacy Benefit Managers (PBMs) in Medicare Part D or Medicare Advantage from charging patients more in drug cost-sharing that the net price of the drug.
“When it comes to PBMs, there’s little to no transparency on their practices, and they’re making a lot of money by inflating costs for consumers and putting ‘Mom & Pop’ pharmacies, that are often also their competitors, out of business by dictating how patients can get medication and how much pharmacies get reimbursed for dispensing medication,” Congresswoman Nicole Malliotakis said. “I’m pleased to see the Ways and Means Committee push this commonsense legislation forward so we can protect patients from the exploitative pricing techniques of PBMs and work to make prescription drugs more affordable.”
“Too many seniors have to make the choice between buying food and buying life-saving or life-extending medication,” said Ways and Means Committee Chairman Jason Smith (MO-08). “Under the leadership of Rep. Malliotakis and Rep. Wenstrup, the Ways and Means Committee is advancing solutions to fight for lower costs for seniors so they will not have to make that choice anymore. Rep. Malliotakis and Rep. Wenstrup’s bill, the Protecting Patients from Middlemen Act that was approved today by the Committee, ensures that Medicare Part D insurers will never charge a patient more than the ‘net price’ of a drug. This patient protection will make sure that our Medicare program is always putting patients over profits.”
“This commonsense legislation will provide an important protection for seniors in Medicare by ensuring they will not have to pay more for a prescription than it costs their insurance company. I’m pleased to see that the Ways and Means Committee agreed to put patients first and protect seniors from the opaque pricing tactics of PBMs,” said Rep. Wenstrup.
“I am very grateful Congresswoman Malliotakis is taking a stand against the Pharmacy Benefit Managers who are running a monopoly,” said Dr. Mayank A. Parikh from Super Health Pharmacy in Pleasant Plains, Staten Island. “They are widening their moat, while the rest of the community pharmacies are drowning, and the quality of healthcare to the patients is suffering.”
WATCH MALLIOTAKIS’ REMARKS FROM THE MARKUP HERE.
CLICK HERE TO LEARN MORE ABOUT MALLIOTAKIS’ PROTECTING PATIENTS FROM MIDDLEMEN ACT.
CLICK HERE TO LEARN MORE ABOUT THE HEALTH CARE PRICE TRANSPARENCY ACT OF 2023.