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Pleasantville, PA -- U.S. Rep. John E. Peterson (PA-05) announced this afternoon his support for legislation introduced last week lessening the financial burden that some local pharmacists face as an unintended consequence of the new Medicare prescription drug program. The legislation, of which Congressman Peterson is an original co-sponsor, is currently being considered by the House Committees on Ways and Means, and Energy and Commerce.
"The prescription drug benefit is, without question, the biggest and most profound change to the Medicare program since its creation more than 40 years ago," said Peterson, who serves as co-chairman of the Congressional Rural Caucus. "Anytime a program of this size and scope is implemented in such a short period of time, there will inevitably be challenges. But those challenges, however great, should not affect the ability of our rural, independent pharmacists to disburse important medication to our seniors. This legislation will help speed the reimbursement process, and allow for quicker and more efficient ways for our pharmacists to access their payments."
The prescription drug benefit was passed by Congress in 2003, and went into effect January 1, 2006. Only four months after its inception, the program has already begun saving seniors hundreds, and in some cases, thousands of dollars on medication. To date, more than 30 million Americans are taking advantage of the savings - but the process is not without administrative challenges. One such problem that has arisen concerns the timely payment of independent pharmacies for the drugs they provide to seniors. Independent pharmacies and, in turn, independent pharmacists - so named because they are not affiliated with their larger chain drug store brethren - have been forced to wait weeks, and sometimes months, for reimbursement. Such independent stores serve rural communities across Pennsylvania and around the country.
The legislation, H.R. 5166, would mandate that companies operating Medicare prescription drug plans reimburse participating pharmacists within 10 days, and further require them to offer an electronic direct deposit option to pharmacies. The bill would also increase the dispensing fee on generic drugs to encourage the use of these less-expensive alternatives. Introduced on April 6th, the bill has already garnered the co-sponsorship of 44 House members.
"For all the success the prescription drug benefit is starting to see, the reimbursement turn-around for our rural pharmacies continues to be far too long, and the payment systems far too cumbersome," added Peterson. "This legislation will help in these regards, and I'm proud to lend my support as an original co-sponsor."
In addition to co-sponsoring H.R. 5166, Congressman Peterson has also lent his name and support to H.R. 1671, a bill to extend collective bargaining authority to independent pharmacists so they can negotiation with big insurance plans on a level playing field.
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