Florida State Rep. Randy Fine filed HB 1043 his week which would save the State of Florida more than $100 million in prescription drug costs while increasing access to critical prescription drugs to Medicaid recipients.
“State studies conducted over the past year prove definitively that the only people in Florida benefiting from Prescription Benefits Managers are the Managers themselves,” said Fine.
“By allowing PBMs to both serve as the middleman and the retailer we have destroyed the fiduciary duty to be efficient, and as a result, these companies are making hundreds of millions of dollars in government-mandated excess profits.”
HB will shift to a fee-for-service model that more than a half dozen states have implemented, saving hundreds of millions of dollars.
Fine said the number of pharmacies eligible to distribute these less-expensive drugs will increase dramatically, making it easier for these Floridians to obtain prescriptions from the pharmacy of their choosing.
“This bill is a win for both taxpayers and Medicaid recipients,” said Fine
“With a multi-billion dollar budget deficit, this is a no-brainer way to help close the budgetary gap – improving the quality of service while saving money. I look forward to aggressively pursuing this legislation during our upcoming session.”
Senator Ana Maria Rodriguez has filed the Senate companion to the legislation, SB 1306.