Senate Republican Office
FOR IMMEDIATE RELEASE
AUGUSTA – Senator Matt Pouliot (R-Kennebec) presented LD 1389, “An Act To Address Transparency, Accountability and Oversight of Pharmacy Benefit Managers”, to the Legislature’s Health Coverage, Insurance and Financial Services Committee on Tuesday, April 16.
The bill, based on recommendations of the 128th Legislature’s Task Force on Health Coverage for All of Maine, would require that pharmacy benefit managers, which are entities that manage an insurer’s prescription drug coverage, be registered by the Department of Health and Human Services. It sets standards for registration requirements that pharmacy benefit managers would have to meet and follow.
“The goal of this legislation is to help address the high cost of prescription drugs and the impacts it has on many Maine families by implementing the recommendations of the bipartisan task force,” said Sen. Pouliot. “Pharmacy benefit managers contract with health care plans to administer prescription drug benefits, and oftentimes, their practices benefit insurance companies with no savings passed on to consumers. I think it’s time for lawmakers to take a closer look at this practice so Maine families can better afford the medications they need to live full, healthy lives.”