Placeholder Banner

Administration’s Benefit Rule Threatens Access and Affordability of Prescription Medicines

May 7, 2020
Media Contact
Author-Profile-Andrew-Segerman

BIO’s Tom DiLenge, President of Advocacy, Law & Public Policy Division issued the following statement today after the Trump administration adopted a “Notice of Benefit and Payment Parameters for 2021” that allows health plans to block drug manufacturer discounts from helping to lower patients’ cost-sharing obligations:

“This decision by the Trump administration is truly baffling. At a time when insurance companies are enjoying high profits while patients are struggling financially, the administration has adopted a rule that will increase patients’ out-of-pocket drug costs, undermine access to necessary medications, and further pad insurance company profits. This misguided approach will ultimately jeopardize the health and well-being of patients and lead to increased spending on other, more costly medical services. The American people should be focused on staying healthy and financially secure during these difficult times, but this reckless regulatory change risks both.”


###
 

Discover More
Immunologist Michelle McMurry-Heath is Selected  for Her Global Leadership and Commitment to Innovation and Patients Former FDA Official Will…
Following the announcement that Dr. Moncef Slaoui will lead the Trump Administration's "Operation Warp Speed" initiative, BIO’s President and CEO, Jim Greenwood, issued the following statement:  “Dr. Moncef Slaoui is an excellent choice…
The Biotechnology Innovation Organization (BIO) today unveiled a first-of-its-kind, interactive tracker of the new treatments and vaccines in the COVID-19 pipeline. This online resource illustrates the unprecedented campaign being undertaken by…