By Senator Max Wise (R-Campbellsville)
Kentuckians woke up recently to a seemingly alarming new opinion piece in the Louisville Courier-Journal decrying supposed new healthcare costs for consumers. Fortunately, this was yet another false alarm pulled by the big Pharmacy Benefit Managers (PBMs) in their never-ending drive to increase profits at our expense. While the author tried to create smoke using typical scare tactics, we have hard data from years of productive work in the Kentucky General Assembly.
The false alarm began with the writer’s attack on a bill I authored and Governor Beshear signed into law, this year to protect community pharmacies and help Kentuckians access the medicines they need. The new law created by Senate Bill 188 protects our local pharmacies from unfair PBM practices that have led to the closure of 99 independent community pharmacies in our state in the last three years. Many of them were pharmacies that Kentucky families had depended on for decades.
But SB 188 wasn’t just some new concept to address a new problem. It’s the next step in the General Assembly’s ongoing and nationally recognized effort to finally rein in the harmful practices of PBMs that are hurting our local pharmacies and driving up healthcare prices for consumers.
SB 188 continues the work of previous PBM reform legislation I authored several years ago, which has already saved the state money while shining a bright light on exactly what PBMs are doing to patients, providers, and Kentucky taxpayers.
When the author wrote, “SB 188 targets Pharmacy Benefit Managers, who manage prescription drug benefits for health insurers, large employers and other payers,” she was right. Our bill does target big PBMs who manage and profit from prescription drug benefits. But it does it to protect patients, not PBM profits.
Insurance companies often push the false narrative that PBM reform will increase insurance costs for businesses and taxpayers alike. That is simply not true, and the actions of the Kentucky General Assembly proved it. If we want to focus on profits, here are the figures: not only did SB 50 not cost our state money as the PBM’s swore to legislators it would, but it actually saved our state over $280 million dollars and counting according to a report presented by the Cabinet for Health and Family Services.
Just like 2020’s Senate Bill 50 did with Kentucky Medicaid, SB 188 will help yield similar savings for consumers by applying the same standards to the current commercial market and cutting costs for Kentuckians with private health insurance at the pharmacy window.
It’s tough to believe that such legislation would receive negative attention for something that was so clearly drafted to protect patients and providers, not big corporations.
As a member of the General Assembly, I am proud to tell my constituents about our work to stop the PBM profit games. I will always remain steadfast in my work to be a strong champion of the pharmacy community, which includes pushing back on harmful narratives trying to defend the PBMs. We all deserve better.
Here in Kentucky, our General Assembly has worked tirelessly to rein in PBMs to support patient access to care and community pharmacies. In this economy, community pharmacies are already struggling to keep the lights on. We also know that when Kentuckians go to the pharmacy, their hard-earned money should supply their families with the care they need instead of supplying big companies, like PBMs, with profits to line their pockets.
But this work doesn’t stop here. Over in Washington D.C., I can assure my constituents that we have strong Kentucky champions leading the charge for PBM reform at the federal level. This includes the instrumental work of my friends Congressman James Comer and Congressman Brett Guthrie, who will not let big company PBMs prioritize money over patients—something that has been happening for far too long.
This fight is far from over. The only way to win and guarantee success for our community pharmacies is to remain a strong voice for them and their patients.
State Senator Max Wise (R-Campbellsville) represents the 16th Senate District of Kentucky.
(Angela L. Billings, Director of Communications — Senate Majority Leadership)