Hundreds of thousands reasons we all need to vote
It’s as though Jennifer and I figuratively have nearly $150,000 riding on the outcomes of the November 5 U.S. Presidential election.
That’s right. $150K is the combined estimated cost of the disease-modifying therapies (DMT) we each take to slow the progression of our Multiple Sclerosis. In fact, as of February 2024, the median annual brand price of MS DMTs was more than $107,000.
Lowering prescription drug costs is a trendy topic that many candidates running for federal offices are strategically positioning in their campaign platform. Who can blame them? It’s a hot-button issue that could swing votes in their favor.
Consider that over 60% of Americans in a recent GoodRx Research survey reported they regard their prescription medications costs as a burden.
Yes, elected officials have taken steps to lower prescription drug prices. The current administration has led the charge to cap out-of-pocket costs for insulin at $35 and has made it possible for Medicare to negotiate prescription drug prices for 10 of the most common and expensive medications that treat medical conditions such as cancer, diabetes, blood clots and heart disease.
But I have yet to hear any of those seeking office limit their campaign pitches and promises to lower prescription drug prices to only a few medications covered by Medicare. In fairness to me and their potential constituents, I am moving forward with the understanding that their efforts do not exclude MS DMTs.
Whether or not these action-oriented politicians actually follow through with their lofty promises to temper Big Pharma once in office is yet to be determined. Lucky for them, Jennifer and I and hundreds of other MS activists already have been laying the groundwork for controlling these MS medication costs.
It starts with legislation for Pharmacy Benefit Manager Reform.
Cut out the middleman, lower Rx costs
Pharmacy Benefit Manager, or PBM, is a third-party company that acts as an intermediary between drug companies, pharmacies and insurers. PBMs are responsible for managing prescription drug prices for clients such as health insurers, Medicare Part D plans and large employers. They play a significant role in deciding the drug prices patients pay.
The six largest PBMs have enormous market power enabling them to manage, and profit from, nearly 95% of all prescriptions filled in the U.S.
The high cost of MS disease-modifying therapies makes them a prime target for PBMs and insurers to limit access. In fact, when I started my job at Ruffalo Noel Levitz a little more than 6 years ago, and it’s still true today, there are no MS DMTs on my company’s insurance formulary.
For the past two summers, Jennifer and I have joined other MS activists in meeting with our respective federal legislators to discuss the need for PBM reform. Although Jennifer and my meetings we’re very promising and encouraging, as there is a lot of bipartisan support for such legislation, no changes were made yet to lower the costs of MS medications.
Our hope is that once the election is over, our elected officials can settle in and get to work to ensure that their campaign promises to lower prescription drug prices weren’t made in vain.
Fulfilling their promise will mean it will cost considerably less to fill our prescriptions. Because what good is it to have medication that can slow the progression of our disease if we can’t afford to pay for it?
