Whitmer Signs Bill Lowering Prescription Drug Costs The bill, passed with the support of Republicans and Democrats, lowers the cost of prescription drugs for Michiganders and ensures fair and transparent drug pricing practices across the state.
By Main Street Sentinel Staff
Governor Gretchen Whitmer recently signed legislation that will lower the cost of prescription drugs for Michigan residents and ensure fair and transparent drug pricing practices at pharmacies across the state.
The legislation, passed with the support of Republicans and Democrats, is built upon recommendations from Governor Whitmer’s Prescription Drug Task Force.
“This bill brings much-needed transparency to our healthcare system,” said Governor Whitmer, “and is a testament to what we can do when we put Michiganders first.”
“In 2017, 32% of Michigan residents stopped taking their medication as prescribed due to cost” added the bill’s sponsor, Representative Jackie Calley. “This impactful new law will directly improve the affordability and access of prescriptions.”
The bills will curb drug costs by licensing pharmacy benefits managers (PBMs), middlemen who control whether patients can access their prescriptions, and how much they pay. The new laws stop PBMs from using unfair practices to drive up prices for community pharmacies and patients alike.
TThe bill signing, hosted at a Meijer Pharmacy West on Lansing’s west side, was attended by lawmakers from both parties, along with Rick Keyes, Meijer’s President and CEO.
“This bill makes pricing practices fairer, increases transparency, and helps our customers afford the medications they need to live healthy lives.” said Keyes.
While the new bills will lower insulin prices, the Governor has also touted a new bill, currently in the legislature, that would cap insulin prices at $50 a month.