Reps. Courtney, Houchin Reintroduce Bipartisan Bill to Lower Prescription Drug Costs
WASHINGTON, D.C. – Today, Reps. Joe Courtney (D-CT) and Erin Houchin (R-IN) reintroduced bipartisan legislation to shine a light on the opaque prescription drug pricing system to ensure patients get a fair deal. In 2023, the House passed their bill (320-71) as part of the Lower Cost, More Transparency Act.
Pharmacy Benefit Managers (PBMs) are the middlemen between pharmacies, drugmakers, and health insurers who negotiate the price Americans pay for prescription drugs. Currently, PBMs are not complying with the rules that require they disclose the profits they make from deals with drug companies, often leading to bonuses for PBMs and higher costs for patients.
The lawmakers’ legislation strengthens requirements to ensure PBMs disclose their compensation and business practices to health care plan fiduciaries (those responsible for administering employee-sponsored health care). Employers and their employees deserve to know that the insurance products they are buying were negotiated in their best interests.
“As Supreme Court Justice Louis Brandeis said, ‘sunlight is the best disinfectant’ to fight corruption. This bipartisan legislation, which overwhelming passed the House in 2023, takes an important step to achieving that goal by improving the transparency of the middlemen, or PBMs, who set prescription drug costs,” said Congressman Joe Courtney (CT-02). “I am pleased to reintroduce this legislation with Rep. Houchin and ensure employer sponsored insurance gives patients access to care and treatment that is valuable to them, not to commercial entities.”
“Americans should never be blindsided by hidden costs in their healthcare,” said Congresswoman Erin Houchin (IN-09). “The Hidden Fees Disclosure Act is a step toward transparency, ensuring that workers and families know exactly what they’re paying for prescription drugs. This bill will help inform patients and policymakers the true cost of prescriptions. Pharmacy Benefit Managers should not be immune from price transparency.”
Press Contact
Sam Varie, 202-503-6102 (Courtney)
Parker Armstrong, 812-850-0232 (Houchin)
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