NWSEO Supports Bill to Lower Prescription Drug Costs
NWSEO is joining other federal unions in support of a bill designed to ensure that federal employees receive the best benefits at the most affordable prices. Representative Stephen Lynch (D-MA) recently introduced legislation (H.R. 4489) to enhance oversight of the FEHBP prescription drug contracting and pricing methods. Federal employees and the taxpayers are absorbing increasing costs for the FEHBP in part because of rising prescription drug costs. Prescription drugs are the fastest-growing component of health-care spending nationally.
H.R. 4489, the “FEHBP Prescription Drug Integrity, Transparency, and Cost Savings Act,” draws on the strengths of other federal programs to push down drug prices while preserving the current structure of the FEHBP. Specifically, H.R. 4489 will:
By increasing transparency, banning improper drug-switching, capturing drug-company rebates and addressing conflicts of interest, this legislation could save federal employees and taxpayers hundreds of millions of dollars.
The NWSEO encourages all of our members to contact their Congresspersons and Senators and ask them to be a co-sponsor of this bill. More information can be found on the bill at http://thomas.loc.gov. Please type in Bill Number H.R. 4489 on the Search & Summary Status section of the page.