Pritzker introduces plan to crack down on pharmacy benefit managers, lower drug prices

SPRINGFIELD, Ill. (WAND) — Gov. JB Pritzker hopes lawmakers will pass a plan this spring to lower prescription drug prices. His proposal could prevent pharmacy benefit managers from inflating medication costs by banning spread pricing.

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Pritzker also suggested Wednesday that lawmakers should block pharmacy benefit managers from using arbitrary drug classifications that limit access and charge consumers more. His bill would ban PBMs from forcing consumers to use large scale pharmacies as well.

"We'll also give full statutory authority to the Illinois Department of Insurance to examine the books and records of PBMs and require them to submit to annual reporting and auditing," Pritzker said. "We're going to end their overcharging for drugs people rely on, from insulin for diabetics to chemotherapy for cancer patients."

The governor said Illinois should set new transparency measures and penalize PBMs when they fail to comply. His legislation could also increase resources for Illinois pharmacies in rural and underserved areas.

The Pharmaceutical Care Management Association said they share Pritzker's objective to lower prescription drug costs in Illinois. Although, PCMA said the governor missed the mark on the value pharmacy benefit managers provide. They argue the core mission of PBMs is to lower prescription drug costs and increase access.

"PBMs are working on behalf of Illinois employers, unions, and patients in the fight against high drug costs and are the only stakeholder in the prescription drug supply chain dedicated to lowering drug costs," PCMA leaders stated. "In fact, PBMs save patients and employers $1,040 per person per year in the state and will save Illinois patients and health plans $39.9 billion over ten years."

The organization also said they support pharmacies in rural areas through programs that increase reimbursements. PCMA said any discussion on drug costs must include the entire supply chain, including Big Pharma.

A PhRMA spokesperson told WAND News they agree with Governor Pritzker that the cost of health care must be addressed and the state should focus on the role of pharmacy benefit managers.

"Health insurance companies and their PBMs control what patients pay out-of-pocket and are not currently required to share the discounts and rebates provided directly with patients," said PhRMA spokesperson Stami Turk.