Transparency. Limits. Justification.
Prescription drugs have saved lives and improved the quality of life and are an important part of staying healthy for millions of Oregonians. But too many people can’t afford their medications and are forced to take reduced dosages, cut pills in half, or make hard choices between medicine or rent or food.
That’s why states are taking action to protect consumers and patients against out-of-control drug price increases. Maryland, California, Nevada, New York and Vermont have all taken action to rein in drug companies.
In the 2018 Oregon legislative session, lawmakers from both sides of the aisle are coming together to pass the Drug Price Transparency Act (HB 4005). This important legislation is co-sponsored by Democrats and Republicans alike.
A large coalition of unlikely allies is supporting HB 4005. Consumer groups, labor, nurses, doctors and health plans are all working to pass the Rx Price Transparency Act. Together we will win against the powerful drug companies and finally shine the light on drug pricing.
We need to shine the light on high drug prices. Here’s what HB 4005 would do:
- HB 4005 requires drug and insurance companies to be more transparent about drug prices and the effect on premiums. Drug manufacturers will have to report to the state whenever they want to raise the price of a drug more than 10% a year or when they bring a new blockbuster drug onto the market. Profit margins, R & D costs, advertising and marketing, how much the drug costs in other countries, and whether there is a more affordable generic drug all must be reported to state regulators.
- HB 4005 also requires state regulators to publicly post a list of the drugs that have had high price increases and hold annual public meetings about prescription drug prices. The state insurance commissioner would also begin accepting reports from consumers about drug price increases and make recommendations to the state legislature about further actions to lower prescription drug prices.
- HB 4005 requires insurance companies to report the 25 most expensive prescription drugs in their plans, which ones have increased the highest, and how those costs affect our premiums.
No wonder 86% of Oregonians say drug prices are too high.* That’s why we have come together to call for more transparency and accountability in drug pricing.
Our coalition includes, the Oregon Nurses Association, OSPIRG, Basic Rights Oregon, Oregon Education Association, Kaiser Permanente, Human Services Coalition of Oregon, Moda Health, PacificSource, Oregon Primary Care Association, Health Care for All Oregonians, Cambia Health Solutions, Oregon Association of Hospital and Health Systems, SEIU Oregon State Council, Oregon Association of Nurse Anesthetists, Oregon Society of Health-System Pharmacists, Oregon Society of Physician Assistants, Professional and Technical Employees Local 17, Oregon Association for Home Care, Oregon Ambulatory Surgery Center Association, Oregon Medical Association and Providence Health & Services.
We are working to protect patients and ensure Oregonians have access to the life-saving medicines they need at an affordable price.
Please join us!
*Healthcare survey of 501 registered Oregon voters, August 2016.