The National Hispanic Council on Aging (NHCOA) strongly supports the Pharmacy Benefit Manager (PBM) Price Transparency and Accountability Act, introduced by Senate Finance Committee Chair Mike Crapo (R-ID) and Ranking Member Ron Wyden (D-OR). As an organization dedicated to advancing equitable access to affordable, high-quality care for Hispanic older adults, we applaud this effort to bring long-overdue transparency and accountability to the PBM system.
By separating PBM profits from drug rebates, strengthening oversight, and safeguarding community pharmacies, particularly those in underserved and rural areas, this legislation could lower prescription drug costs and improve access for millions of older adults. These reforms are especially important for Latino older adults, who are disproportionately affected by rising medication prices and barriers to pharmacy access. The means by which these proposals aim to address non-consumer-friendly business practices in the drug market are comprehensive and well planned. The PBM Price Transparency and Accountability Act is sure to make a lasting positive impact on taxpayers and older adults across the country, should it be passed.
NHCOA applauds this bipartisan leadership and urges swift action to ensure that older adults can obtain the medications they need without facing undue financial hardship.
About NHCOA:
NHCOA is the leading national organization working to improve the lives of Hispanic older adults, their families, and their caregivers. Headquartered in Washington, DC, NHCOA has been a strong voice dedicated to promoting, educating, and advocating for research, policy, and practice in the areas of economic security, health, and housing for Hispanic older adults, families, and caregivers for the last 51 years.
For more information about NHCOA call 202-347-9733 or visit www.NHCOA.org.
Recent Comments