Blue Shield of California President and CEO Paul Markovich Statement Supporting the New California Prescription Drug Transparency Law

By a News Reporter-Staff News Editor at Insurance Weekly News -- Blue Shield of California applauds the governor and Legislature for enacting a new state law that provides much needed transparency to prescription drug pricing in California.

High drug prices remain a significant threat to affordability of health care for all Californians. Blue Shield believes Senate Bill 17 takes an important step toward informing consumers why drug prices go up and determining if these price increases are reasonable.

Health plans and hospitals are required to publicly share detailed information about their prices, price increases, and profits. SB 17 logically and thoughtfully extends this disclosure to drug companies, thereby reducing the likelihood that they will increase their prices numerous times throughout the year - with no explanation other than the fact that it can be done.

As a nonprofit health plan whose mission is to provide all Californians access to quality healthcare that's sustainably affordable, we are proud to be in a state where the governor and Legislature are leading the way in helping to make that a reality. Background on Blue Shield of California Blue Shield of California, an independent member of the Blue Cross Blue Shield Association, is a nonprofit health plan with 4 million members, 6,800 employees and more than $17 billion in annual revenue. Founded in 1939 and headquartered in San Francisco, Blue Shield of California and its affiliates provide health, dental, vision, Medicaid and Medicare health care service plans in California. The company's mission is to ensure all Californians have access to high-quality care at an affordable price. Blue Shield has contributed more than $450 million to the Blue Shield of California Foundation since 2002. Contact your local agent or broker about Blue Shield of California products and services, or visit www.blueshieldca.com. View source version on businesswire.com: http://www.businesswire.com/news/home/20171009005947/en/

Keywords for this news article include: Legal Issues, Managed Care, Blue Shield of California.

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