Griffith and Welch Introduce the Improving Transparency and Accuracy in Medicare Part D Spending Act
WASHINGTON––Congressman Peter Welch (D-VT), along with Congressman Morgan Griffith (R-VA) and seven other Members of Congress, introduced the Improving Transparency and Accuracy in Medicare Part D Spending Act (H.R. 5951) today, which would ensure our community pharmacists receive reimbursement at the rate posted at the time the prescription is filled.
Congressman Welch said: “Rural pharmacies are an essential component of health care delivery in small communities across America. Vermont’s small pharmacies provide quality service and essential medication every day. Their long term viability is essential to the health of our communities and this legislation will help ensure they succeed in this vital mission."
Congressman Griffith said, “This bill would make it so pharmacists know exactly what they're getting paid when you get your prescriptions filled. Unfortunately, pharmacy benefit managers (PBMs), which operate within insurance companies etc., have gotten into the habit of changing rates paid to your pharmacist for your prescriptions weeks and months after the prescriptions have been filled.”
“Some drugs are like a commodity whose prices change. But when the price of gasoline fluctuates with the market, your local gas station isn't allowed to send you a bill after the fact. They can’t say the price was $2.09 when you filled up your tank, but you really should’ve paid $2.15.”
“This simple bill makes it so the PBMs cannot unduly change their reimbursements to your pharmacist after the fact.”