Understanding Bills at the Legislature
By: Colorado BioScience Association Date: 04/02/2018
Where Do Patients Fit In?
Colorado families need access to medicines and health care at affordable prices. That’s why Colorado BioScience Association supports True Transparency. This means considering our complex health care system as a whole to make positive changes for patients and their families.
House Bill 1260 (HB18-1260), under consideration by the full House this week, does not consider how multiple players in our health care system impact prescription drug prices for patients.
Insurers and Pharmacy Benefit Managers (PBMs) maintain the most control over prescription drug prices. They largely determine how much patients pay for their prescriptions at the pharmacy counter. Instead of addressing all of the players involved in prescription drug pricing, House Bill 1260 (HB18-1260) only targets a single stakeholder, without taking the value of biopharmaceutical innovation into account.
Colorado BioScience Association opposes HB18-1260 because:
- It doesn’t consider the influential role insurers, pharmacy benefit managers (PBMs), and others play in deciding how much money patients pay for medicines.
- It doesn’t provide information families need about out-of-pocket drug costs when selecting their health plans.
- It doesn’t tackle other areas of health care that drive up prescription costs.
As an alternative, Colorado BioScience Association wants to start a community conversation about out-of-pocket costs for prescription medicines and how patients fit in to the drug-pricing puzzle. Our support of True Transparency includes:
- Working together to provide access to affordable medicines.
- Addressing the health care system holistically.
- Looking at every player in the health care system to make meaningful changes for families.
As informed citizens, let’s open the dialogue.
- Let’s ask our legislators and business leaders to take a holistic approach to the pricing transparency conversation.
- Let’s ask legislators to carefully consider what levers we pull to affect change in a complex system.
House Bill 1260, Prescription Drug Price Transparency, passed out of the House Appropriations Committee on a party line vote. It is scheduled to be heard on the House Floor on April 9th.
CBSA testified in opposition to the bill on March 8. Read the testimony.
We need your help to oppose this legislation. Please use this form to contact your legislator and ask for a NO vote.