National Community Pharmacists Association: National Consumer Survey – Patients Disapprove of Pharmacy Benefit Managers Squeezing, Steering, Shortchanging Their Pharmacy – InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Life Insurance News
    • Annuity News
    • Health/Employee Benefits
    • Property and Casualty
    • Advisor News
    • Washington Wire
    • Regulation News
    • Sponsored Articles
    • Monthly Focus
  • INN Exclusives
  • NewsWires
  • Magazine
  • Webinars
  • Free Newsletters
Sign in or register to be an INNsider.
  • Exclusives
  • NewsWires
  • Magazine
  • Webinars
  • Free Newsletters
  • Insider Pro
  • About
  • Advertise
  • Editorial Staff
  • Contact
  • Newsletters

Get Social

  • Facebook
  • Twitter
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
February 25, 2022 Newswires No comments
Share
Share
Tweet
Email

National Community Pharmacists Association: National Consumer Survey – Patients Disapprove of Pharmacy Benefit Managers Squeezing, Steering, Shortchanging Their Pharmacy

Targeted News Service (Press Releases)

ALEXANDRIA, Virginia, Feb. 25 (TNSRep) -- The National Community Pharmacists Association issued the following news release on Feb. 24, 2022:

Large majorities say insurance plans and their pharmacy benefit managers should pay pharmacies fairly for COVID-19 drugs and other life-saving medicines, and they shouldn't tell patients which pharmacies to use or steer them into their own pharmacies, according to a new national consumer survey released today by the National Community Pharmacists Association.

According to a national survey of 716 registered voters, conducted Feb. 14-15 by Public Policy Polling, 84 percent say health insurance plans and their PBMs shouldn't tell patients which pharmacies to use, a practice known as "patient steering." More specifically, 78 percent say insurance plans and PBMs shouldn't require patients to use pharmacies owned by insurance plans and PBMs or be allowed to require patients get their medicines through the insurance company's mail-order pharmacy. When asked if insurance plans and PBMs should require patients to use more expensive medicines when there is a less expensive alternative, 83 percent said no.

Related stories

  • Patent Issued for Data security across data residency restriction boundaries (USPTO 11552955): Kyndryl Inc.
  • Patent Issued for Complex composite tokens (USPTO 11553352): eBay Inc.

"Being able to choose their pharmacy continues to be a patient priority," said B. Douglas Hoey, pharmacist, MBA, NCPA CEO. "Despite the pandemic having changed other consumer behaviors, they want access to a local health care provider who knows them and will help them find the best, most affordable treatments."

Nearly 60 percent say it isn't fair that low health insurance and PBM reimbursements to pharmacies for buying and safely dispensing drugs often means the pharmacy loses money on prescriptions. When asked about pharmacies losing money when dispensing new COVID-19 oral antiviral medicines due to stingy fees paid by health insurance companies, 50 percent think these companies and PBMs should reimburse pharmacies enough for the pharmacy to cover the cost of the drug, the costs to dispense the drug, and to make a small profit. An additional 32 percent say they should reimburse at least enough for the pharmacy to just cover its costs, which is roughly $40. Nearly three-quarters say that the $1 reimbursements sometimes being seen by pharmacists are not fair.

"Patients understand that pharmacies are unlikely to be able to offer these vital therapies if miserly insurance companies hoard the patient's monthly premiums for their own corporate gain rather than acknowledging the pharmacist's extra time and coordination that goes into making sure patients are safe and get the most benefit from these potent drugs," Hoey said. "They know intuitively that access to drugs will dry up and pharmacies will close. Policymakers must acknowledge this too, and they should take action. These are important treatments that can prevent costly hospital stays and save lives, and they should be available to the patients who need and are appropriate for them."

* * *

REPORT: https://ncpa.org/sites/default/files/2022-02/2.24.2022-NCPA.Survey.Results.pdf

Older

Calif. A.G. Bonta Announces Arrests in Alleged Inland Empire Hospice Scam Defrauding Medicare, Medi-Cal Programs of More Than $4.2M

Newer

Ukraine Tragedy Complicates The Federal Reserve’s Inflation Challenge

Advisor News

  • For some, nothing to fear from taking RMDs, professor says
  • Half of investors plan to work after retirement
  • Cetera to acquire Securian’s retail wealth business
  • Study: Education level should drive decisions on Social Security, annuities
  • Former California energy company exec given 5 years in prison for $15M investment fraud
More Advisor News

Annuity News

  • Investors scrambling to lock in rates propel annuity sales to record highs
  • North American and Annexus launch new fixed index annuity
  • Producers stew as insurers slow to process life and annuity applications
  • Substitute teacher wins massive lottery drawing in North Carolina. ‘Too good to be true’
  • Brad Rhodes: An annuity product many have never heard of
More Annuity News

Health/Employee Benefits News

  • Nearly half of all gig workers have no access to health insurance
  • California offers health insurance for $10 a month. The deadline is days away
  • Amazon announces service to deliver medications to your door. Here’s how it works
  • COVID-19Another COVID ‘new normal’: more Californians dying at home
  • Seven sentenced in conspiracy to defraud federal health insurance programs
More Health/Employee Benefits News

Life Insurance News

  • Cetera to acquire Securian’s retail wealth business
  • What does Curtis 'Cousin Eddie' Smith know in Murdaugh case?
  • Alex Murdaugh's murder trial starts with cellphones, bullets
  • Prosecutors, defense argue guns, bad acts in Murdaugh trial
  • Lincoln Financial Group offers new, fully automated life product, WealthAccelerate
Sponsor
More Life Insurance News
The time is 10:25:25pm test

- Presented By -

Top Read Stories

  • A Louisiana employer's health perks helped their workers lose weight. Here’s how.
  • US debt ceiling limit reached; Social Security, Medicare targeted
  • Former CEO of Texas beverage company sentenced to 10 years in prison for fraud
  • LETTER: FEMA flood insurance is all but worthless
  • Progressive online practices set example for agents, other carriers
More Top Read Stories >

FEATURED OFFERS

Grow life insurance sales in 2023 with middle-market clients

Tap a new source for sales and referrals with Allianz Life Insurance Company of North America.

Don't Miss ICMG 2023

When the success of your business depends on making the right connections, ICMG is the place to be.

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Life Insurance News
  • Annuity News
  • Health/Employee Benefits
  • Property and Casualty
  • Advisor News
  • Washington Wire
  • Regulation News
  • Sponsored Articles
  • Monthly Focus

Top Sections

  • Life Insurance News
  • Annuity News
  • Health/Employee Benefits News
  • Property and Casualty News
  • AdvisorNews
  • Washington Wire
  • Insurance Webinars

Our Company

  • About
  • Editorial Staff
  • Magazine
  • Write for INN
  • Advertise
  • Contact

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2023 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • AdvisorNews

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.