Source: KJCT 8

January 31, 2025

A bipartisan bill was introduced into the house this week regarding healthcare costs for Coloradans.

The bill introduced by Representatives Kyle Brown and Dusty Johnson would reduce the cost of prescription drugs by holding pharmacy benefit managers, or PBMs accountable.

Bill sponsors said PBMs should be negotiating lower prescription costs, but the way the system is set up, Coloradans end up paying more.

“In fact, over the past decade, profit growth of the largest PBMs increased by more than 430%,” said Representative Brown. “These PBMs have become so profitable that they are included among the Fortune 25 companies – ranked higher than the drug manufacturers they were meant to control.”

Representative Johnson also said, “Healthcare costs are rising for my constituents, and we need to tackle this problem from all angles.”

The legislation would encourage PBMs to generate revenue through a flat service fee, prohibit them from profiting through restricting access to affordable generic medications or underpaying pharmacies, and would require them to pass on the savings to patients as intended.

According to a press release sent by the PBM Accountability Project of Colorado, recent polling showed 70% of Colorado residents had one healthcare affordability crisis last year. 83% worried about affording healthcare in the future, and 68% had delayed or went without healthcare due to cost.