Over 1,000 stakeholders signed a letter to Senate Majority Leader Mitch McConnell, R-Ky., and Minority Leader Chuck Schumer, D-N.Y., calling for the immediate repeal of the Affordable Care Act's excise tax on high-cost employer-sponsored health coverage, scheduled to take effect in 2022. The so-called "Cadillac tax" would result in higher health care costs and reduced access to health care providers, the stakeholders wrote.
An analysis from the CMS Office of the Actuary showed US health care spending increased by 4.6% to $3.6 trillion last year, compared with 4.2% growth in 2017 and 4.6% in 2016. The increase was driven in part by faster spending growth in government-sponsored and private health insurance, largely because the Affordable Care Act's health insurance tax was reinstated.
House leaders said the chamber will vote next week on legislation introduced by House Speaker Nancy Pelosi, D-Calif., that would allow HHS to negotiate drug prices for up to 250 drugs per year. The House is expected to pass the measure, but Senate Majority Leader Mitch McConnell, R-Ky., has vowed to block it.
New York-based physician Gordon Freedman has been convicted of conspiring to commit honest services wire fraud and conspiring to violate an anti-kickback statute involving prescriptions for Insys Therapeutics' fentanyl spray. Prosecutors said Freedman received $308,600 in speaker fees from Insys from 2012 to 2015 in exchange for prescribing the drugmaker's painkiller Subsys.
PCMA is the national association representing America's pharmacy benefit managers (PBMs), which administer prescription drug plans for more than 270 million Americans with health coverage provided through Fortune 500 employers, health insurance plans, labor unions, and Medicare Part D. PCMA is dedicated to enhancing the proven tools and techniques pioneered by PBMs that generate savings and access for consumers and payors.
Contact PCMA Charles Cote
Vice President, Strategic Communications