EmployersRx Statement for Drug Cost Provisions in the Build Back Better Act
The Employers’s Prescription for Affordable Drugs (EmployersRx) coalition applauds the work of congressional leaders to reach agreement regarding prescription drug provisions to be included in the Build Back Better Act. We particularly support provisions that protect employer-sponsored health coverage by extending the application of inflation caps that limit annual drug price increases to all payers and all drugs. While the rebates will not provide immediate relief to high drug prices for privately insured people, they will meaningfully limit future price growth on existing drugs for America’s working families. We are very disappointed that the legislation does not allow privately insured people to take advantage of prices negotiated by Medicare for high-cost drugs with no competition. We look forward to working with Congress to allow all Americans to take advantage of those lower prices in the future.
The President and congressional leaders promised to lower the amount working families pay for prescription drugs. The deal announced today is a major step to helping America’s seniors and will provide support for the 180 million people who receive health coverage through their employer or purchase it in the private market. We urge Congress to continue work to address the costs of health coverage, including lowering the prices of prescription drugs, and to ensure that working Americans have access to high quality health care.
About Employers’ Prescription for Affordable Drugs
Collectively, employers are the largest purchaser of health care in the United States, purchasing health care services for more than 153 million people. Employers’ Prescription for Affordable Drugs (EmployersRx) represents public and private employers across the United States that are advocating for reducing prescription drug costs. Coalition members include The Purchaser Business Group on Health, National Alliance of Healthcare Purchaser Coalitions, The Erisa Industry Committee (ERIC), American Benefits Council, Silicon Valley Employers Forum and HR Policy Association. To learn more about EmployersRx, visit www.EmployersRx.org.