WMC’s Rachel Ver Velde testified on legislation regarding pharmacy benefit managers (PBMs), sharing concerns about a few key provisions in AB 773.
The high cost of health care has consistently been a top concern of Wisconsin employers. Wisconsin’s healthcare costs are higher than the national average. A large driver of increased health care costs are prescription drugs, particularly for employers. Prescription drugs account for 16.1% of fully insured private health plan premiums after rebates.
AB 773 would increase government regulations on PBMs and restrict their ability to work in the marketplace, increasing costs for employers.
