March 10, 2021 regarding SB 1306/HB 1403: “Florida’s independent pharmacy industry is trying to strong-arm the state Legislature into moving legislation – SB 1306/HB 1403 – that would inflate Medicaid program costs and do nothing to make prescription drugs more affordable. While Florida’s independent pharmacists continue to misrepresent the Milliman report recently prepared for the state Agency for Health Care Administration, a reality check is in order:
- The Milliman report concludes that moving Florida’s Medicaid pharmacy benefit to a fee-for-service model would increase the state’s program costs by $98.9 million per year.
- PBMs reimburse Florida’s independent pharmacies at higher rates than chain pharmacies. The report shows that PBMs reimburse independent pharmacies 20 percent more than chain pharmacies ($18 vs. $15) for generic non-specialty claims, and 60 percent more than generic specialty claims ($155 vs. $97).
- The Milliman report finds that moving Florida’s Medicaid pharmacy benefit to a fee-for-service model would further enrich Florida’s independent pharmacies. Florida’s independents would see a dispensing fee of more than $10 on every Medicaid prescription bottle they fill – money that goes directly into their pockets and paid for by Florida taxpayers.
“Florida’s independent pharmacists are trying to raid taxpayers’ wallets to increase their reimbursements. We are committed to working with the Florida legislature to reduce prescription drug costs and urge the $76 billion independent pharmacy industry to join us. Floridians deserve nothing less.” Phil Blando, Senior Director, Communications