Lowering Drug Costs with Health Insurance Regulations Has Overwhelming Bipartisan Support - Voters Strongly Favor Policies that Hold Pharmacy Benefit Managers Accountable and Provide Value*
A new national poll finds that a majority of likely voters overwhelmingly support policies that regulate health insurance middlemen companies known as Pharmacy Benefit Managers (PBMs), requiring them to provide more value and help lower drug costs. PBMs act as middlemen between drug manufacturers and patients’ health plans who – instead of lowering drug costs as they initially promised – take advantage of the healthcare system to increase their revenues at the expense of local pharmacies, taxpayers and patients. Three PBM companies control 75% of the market. The poll, conducted by the bipartisan polling team of Lake Research Partners and Bellwether Research, found that 84% of likely voters say it’s important or very important to have rules that require PBMs to provide value and lower drug costs for consumers. Respondents said they want elected officials to take on the issue of regulating PBMs, with 73% saying it should be a high or top priority for Congress and their state legislatures. What’s more, 72% say they are more likely to vote for a candidate who supports regulating PBMs.
Mark Blum, Executive Director of America’s Agenda: Health Care for All. joins Mark Alyn for a look at lowering prescription costs.