Now is the Time for House Lawmakers to Support Senate Bill 8 and Share the Savings with Hoosier Patients and Small Employers

INDIANAPOLIS – Hoosiers struggling at the pharmacy counter to afford their medications had their voices heard today during a hearing for Senate Bill 8 in the Indiana House Insurance Committee.

George Huntley, CEO of the Diabetes Leadership Council, testified that there is no logical reason for the pharmacy benefit managers to keep money that should be going to Hoosiers so they can afford their prescription medicines.

House Insurance Committee chairman, State Rep. Martin Carbaugh, ultimately decided to postpone a vote on Senate Bill 8, which would require pharmacy benefit managers and insurers to share 85 percent of negotiated prescription medicine rebates with the patients buying the medicine. The legislation would also create greater transparency for employers and require that all prescription drug discounts benefit the employer and their employees.

Currently, insurance companies and pharmacy benefit managers negotiate rebates on the cost of medicine with drug manufacturers but these savings are not being passed on to the patients. This means that while patients may have health insurance, they are paying much more for their prescriptions than their insurance company.

“House lawmakers need to hear directly from Hoosiers why this legislation in its current form is so critical to lowering the costs of prescription drugs,” said George Huntley, CEO of the Diabetes Leadership Council. “We have been here before and watched this legislation die in this exact position last year. All the while, everyday Hoosiers and those living with chronic illness continue to shoulder the burden of high drug prices. They can’t afford to wait any longer.”

Andrew Berger, Senior Vice President of Governmental Affairs for the Indiana Manufacturers Association and Emily Donaldson, Deputy Vice President for the Pharmaceutical Research and Manufacturers of America joined Huntley today in voicing support for the proposal.

Hoosiers should contact lawmakers on the House Insurance Committee and urge them to Support Senate Bill 8. Visit ShareTheSavingsIN.com to get involved or share your story on how the rising costs of prescription drugs has impacted you.

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