The governor is signing legislation by New Iberia Senator Fred Mills that’s aimed at pushing down drug prices by requiring prescription benefit plans (that prescription card in your wallet) inform consumers when they get rebates from drug manufactures. Mills says before, your drug plan could hide those rebates and pocket money that should have been going back to you.
“What my goal is, is once those rebates are disclosed, your employer would go and negotiate you much better terms for your prescription drugs.”
Many people don’t realize those rebates are the reason your insurance forces you to buy one pill over another for the same illness. Mills says if your benefit plans are getting savings by forcing you to buy certain drugs, they should be passing those savings back to you.
“You don’t really care if the drug is $1,000 or $50, you’re paying five dollars. But if you can start bringing down the total cost, the premiums you’re paying as an employer can go down.”
Mills says you should be asking whoever provides your prescription card if they’re passing those new savings on to you.
“Now you know they’re getting a rebate, you should as a consumer should know if you are getting your rebate share.”
Similar legislation has passed that would require benefit plans provide that information to the state, so the state can negotiate lower Medicaid prices.