(S.644/H.1053) WILL PROHIBIT THE USE OF CO-PAY ACCUMULATOR PROGRAMS, WHICH ALLOW INSURERS AND PBMS TO ‘DOUBLE DIP’ ON THE COST OF NEEDED PRESCRIPTION MEDS
BOSTON, MA, USA, September 21, 2021 /EINPresswire.com/ — Advocates representing thousands of patients from across Massachusetts today testified virtually in front of the Joint Committee on Financial Services to call for passage of legislation to ban the use of co-pay accumulator programs in the Commonwealth.
The legislation (S.644/H.1053) is critical to any Massachusetts resident using co-pay assistance programs to defray the out-of-pocket costs passed on to them by insurance companies.
Drug manufacturers have long offered discount programs to help patients. Until recently, insurers applied the total cost of the prescription—what the discount covered and what the patient paid out of pocket to the patient’s insurance deductible.
However, with co-pay accumulator programs, only the amount that the patient pays directly out of pocket will count towards their deductible—not what the manufacturer program puts toward the cost of the medication. This results in the patient paying more out of pocket to reach their deductible and the insurer being paid twice.
“Despite having insurance, co-pay assistance programs often make the difference in the ability for patients to afford medications critical to their health,” said Richard Pezzillo, Executive Director of the New England Hemophilia Association and Chair of Patients for Prescription Access.” “This legislation will ensure patients aren’t being forced to spend more than necessary for their live saving medications and we look forward to working with lawmakers to advance these bills this session.”
In addition to those testifying, nearly 30 patient and provider organizations signed a group letter in support of S.644/H.1053.
12 other states (AR, AZ, CT, GA, IL, KY, LA, NC, OK, TN, VA, WV) and Puerto Rico have passed similar legislation. Members of Patients for Prescription Access look forward to working with lawmakers this session to advance this important patient focused legislation.
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Source: EIN Presswire