Sixteen House members are asking three pairs of committee leaders to consider a bill they say would improve transparency of the business partnerships between the government and pharmacy benefit managers.
They say poor oversight of the reimbursement system puts a burden on taxpayers and greater transparency would improve the reimbursement system for generic drugs.
Reps. Doug Collins (R-Ga.) and David Loesback (D-Iowa) led 14 of their colleagues in drafting the letter, which voices support for H.R. 244, which Collins introduced and Loesback was an original co-sponsor of.
“The PBM industry is not well understood by many in Congress and the Administration and that is why we believe it is imperative for your committees to examine and consider putting the appropriate safeguards in place to ensure integrity in Medicare Part D, FEHBP and DoD TRICARE,” the members wrote in a letter to the bipartisan leaders of the Energy and Commerce, Ways and Means and Armed Services committees.
“Generic prescription drugs account for approximately 80 percent of drugs dispensed, but the reimbursement system for these medications is a mystery and it is incumbent upon us to conduct the appropriate oversight of this very large PBM industry to make sure taxpayers are not ‘footing the bill’ for generic prescriptions simply because the PBMs are not required to update the drastic and unpredictable fluctuations we have seen in the generic drug marketplace,” they write.
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