Congressman Morgan Griffith (R-VA) and Congressman Peter Welch (D-VT) today announced that they have reintroduced the Improving Transparency and Accuracy in Medicare Part D Spending Act, which would ensure our community pharmacists receive reimbursement at the rate posted at the time prescriptions are filled.
Congressman Griffith said, "Many residents of the Ninth District depend on their community pharmacy to fill their prescriptions. This simple bill ensures that community pharmacies are treated fairly by insurance companies, so they can focus on serving their customers."
"If you fill up your gas tank when the price is $2.09 per gallon and the price later goes up to $2.15, you won't receive a bill demanding payment for the extra six cents per gallon. The same principle should apply to our community pharmacists. They deserve to be reimbursed based on the price of drugs when they are dispensed, not when they are charged."
"Unfortunately, pharmacy benefit managers (PBMs), which operate within insurance companies, have gotten into the habit of changing rates paid to your pharmacist for your prescriptions weeks and months after the prescriptions have been filled. This simple bill makes it so that the PBMs cannot unduly change their reimbursements to your pharmacist after the fact."
Congressman Welch said, "Rural pharmacies are essential to the delivery of health care in small communities across America. Vermont's community pharmacies provide quality service and lifesaving medication to Vermonters every day. Their long term viability is essential. Retroactive fees are inappropriate and make it significantly harder for these small businesses to keep their doors open. Our legislation would put a stop to this practice."