Pharmacy benefits managers (PBMs), companies that administer prescription drug plans on behalf of insurers and employers, have recently come under increased scrutiny for the role they play in increasing prescription drug costs. By acting as middlemen in the process of negotiating drug prices between drug manufacturers and health plans, they create “an environment for conflicts […]
Today, ACI joined a broad coalition of nonprofit groups in opposition to a Congressional proposal to give the FDA authority to regulate over-the-counter personal sound application devices sold in many stores, including Best Buy, Walmart and others. These regulations would do little to benefit consumers, but would certainly lead to significantly higher consumer prices. Download the Letter.
The purpose of penalties such as fines and jail time is to address and correct perpetrators’ bad behaviors, whilst signaling to others that illicit behavior will not be tolerated – “crime will not pay.” However, when it comes to the business of counterfeit prescription medications, law enforcement falls far short as an effective deterrent. To […]
Today, a coalition of organizations sent a letter to Maryland Governor Hogan objecting to a bill that gives the State’s Attorney General additional authority over competitive generic drug pricing — drugs that are typically 80% lower than their name brand counterparts. The letter is signed by American Consumer Institute, Consumer Action for a Strong Economy, FreedomWorks, Frontiers of Freedom, Independent Women’s […]
Despite a lot of big ticket consumer-oriented issues coming into focus for Congress lately, like healthcare and tax reform, it is also apparent that the United States Postal Service (USPS) and its chaotic operations have also had the attention of some legislators on Capitol Hill. For the new administration, the possibility of fixing the long-plagued […]
Senator Thomas M. Middleton, Chair Senator John C. Astle, Vice-Chair Senator Joanne C. Benson Senator Brian J. Feldman Senator Stephen S. Hershey, Jr. Senator J. B. Jennings Senator Katherine A. Klausmeier Senator James N. Mathias, Jr. Senator Nathaniel T. Oaks Senator Edward R. Reilly Senator James C. Rosapepe Dear Senators: The American Consumer Institute, a nonprofit educational […]
Pharmacy benefit managers (PBMs) administer prescription drug plans on behalf of insurers and employers. In the process, they negotiate reimbursement terms with pharmacies and drug prices with drug manufacturers. While plan sponsors face the direct financial costs of the prescription plans being offered to its members or employees, PBMs act as middlemen in the process. […]
Congress takes a lot of heat for gridlock, partisanship and failing to keep its promises. We should applaud it when it takes strong pro-consumer actions like it is right now. To read our latest piece, visit Forbes.
Today, the American Consumer Institute published a new educational ConsumerGram on Pharmacy Benefit Managers (PBMs) and how their market influence and lack of transparency can influence consumer drug pricing. PBMs are virtually unregulated in what is an otherwise regulated health care sector. The ACI analysis of the PBM market highlights several issues surrounding PBM negotiations […]
Employees in companies that do not offer a 401k arrangement face a disadvantage in saving for retirement. Tax exemption makes 401k retirement funds grow much quicker and the tax exemption is a strong incentive for employees to contribute regularly. The employee benefits from participation and society benefits in future years because the 401k funded employee […]