WASHINGTON--(BUSINESS WIRE)--On the heels of the latest Congressional hearing about pharmacy benefit managers (PBMs), a damaging report from the Federal Trade Commission and numerous media stories questioning concerning practices of these health insurance middlemen, a national poll released today demonstrates significant bipartisan support for legislation to set rules to eliminate PBM conflicts of interest and bring down patients’ out-of-pocket prescription drug costs.
The poll, conducted by the bipartisan polling team of Lake Research Partners and Bellwether Research, found that support for PBM reform is strong and consistent nationwide across partisan and demographic lines. Moreover, respondents believe regulating PBMs should be a high priority for Congress and state legislatures, with more than two-thirds of likely voters saying that they are more likely to vote for candidates who support PBM reform.
The key findings include:
- Nine in 10 likely voters say it’s important or very important to have rules that require PBMs to provide value and lower drug costs for consumers.
- Eight in 10 likely voters support policies that would prevent PBMs from making profits based on drug prices in Medicare and over eight in 10 support ensuring that available rebates and other PBM-negotiated discounts are passed through to help seniors with chronic conditions better afford their medicines.
- At least four out of five likely voters are in favor of each policy proposal, and support is strong across party identification – significant majorities across party lines support each proposal.
- Nearly four in five likely voters say that regulating PBMs as a step to reducing drug prices should be a high priority for Congress and their state legislatures, including over a third who say it should be a top priority.
- Seven out of 10 likely voters are more or much more likely to vote for a candidate who supports regulating PBMs.
“Amidst a landscape of political discord, this issue provides a rare opportunity for bipartisan unity,” said Mark Blum, Managing Director of the PBM Accountability Project. “As legislators, regulators, health economists, and patient advocates continue to uncover the many schemes through which PBMs are driving up prescription drug costs, voters across the political spectrum are lining up in support of legislation that would prohibit predatory PBM practices and ensure that drug savings are passed along to patients. Voters are voicing overwhelming support for Members of Congress who seize the historic opportunity this year to enact legislative solutions that will lower out-of-pocket prescription drug costs for Americans.”
David Mermin, Lake Research Partners, said: “It’s clear the American people are tired of increasing out-of-pocket costs for their medicines. Once they become aware of PBMs and the role these corporations play in driving up costs, respondents are supportive of policies and regulations that would prevent PBMs from profiting off drug costs.”
Christine Matthews, Bellwether Research, reiterated: “Policies to regulate PBMs have overwhelmingly high support across party lines with likely voters more likely to support a candidate who is willing and ready to hold PBMs accountable.”
PBMs currently benefit from an opaque and complex drug pricing system at the expense of patients, independent pharmacies and American taxpayers. Respondents are intensely concerned by the specifics of how PBMs currently operate in the prescription drug market, including that they are incentivized to drive up prices and that three companies currently hold an effective monopoly. Respondents are somewhat or very concerned that:
- PBMs drive up prescription drug prices in Medicare and our insurance plans (85%)
- A Wall Street Journal investigation found that for a set of so-called specialty drugs, both Cigna and CVS’s prices were at least 24 times higher on average than what the medicines’ manufacturers charge (85%)
- A recent study found that PBM-affiliated mail-order pharmacies had markups that were more than three times higher than markups at retail pharmacies (86%)
- A GAO report found that seniors on Medicare were charged four times as much for rebated drugs than the PBMs and plans paid for the same drugs (85%)
To view the research findings, click here. To learn more about PBM-related policy solutions, click here.
About The PBM Accountability Project
The PBM Accountability Project brings together leaders and stakeholders across healthcare, labor, business, pharmacy and consumer patient advocacy to help ensure that patients and our private and public sector health plans aren’t overpaying for the prescription medicines we need. Our organization is working to educate the public and advance solutions to help redirect prescription drug savings from very high PBM profits back to patients, employee health plans and taxpayers. To learn more about the PBM Accountability Project, visit pbmaccountability.org.
