CONTACT: Allison Vanatsky
317-684-5443
avanatsky@bosepublicaffairs.com

Share the Savings Bill Heads to Indiana House

INDIANAPOLIS – The Indiana Senate voted 42-5 in support of Senate Bill 8 to help lower prescription medicine costs and support Hoosier patients with chronic illness.

For many patients with commercial health insurance, the cost they are paying for their prescriptions is often much higher than the cost their insurance company pays. This is because while insurance companies and pharmacy benefit managers negotiate rebates on the cost of medicine, these savings are not being passed on to the patients.

Under the Share the Savings legislation, pharmacy benefit managers and insurers would be required to share 85 percent of negotiated prescription medicine rebates with the patients buying the medicine. Hoosiers with serious chronic illness could save an estimated $1,000 annually and see little to no impact on the cost of their insurance premiums.

Additionally, Senate Bill 8 would create greater transparency for employers and require that all prescription drug discounts benefit the employer and their employees.

“You don’t by drug insurance. You buy health insurance,” said George Huntley, CEO of the Diabetes Leadership Council. “With this legislation, we know that patients will be better off and less burdened by drug prices if we give them the access that allows them to adhere to their medications and stay healthy. We appreciate the forward thinking of Senator Charbonneau and the Indiana Senate regarding this issue and look forward to working with lawmakers in the House to approve this important legislation that will benefit Hoosiers and keep more of their hard earned money in their pocket.”

Senate Bill 8 now moves to the Indiana House of Representatives for further consideration. To learn more about how the rising costs of prescription drugs are impacting Hoosiers, visit ShareTheSavingsIN.com.

###