Olson and Arrington Act To Provide Real Time Benefits Tool For Seniors
WASHINGTON, DC– Today, Congressman Pete Olson (TX-22) and Congressman Jodey Arrington (TX-19) introduced H.R. 3408, the “Shop Rx Act of 2019,” which ensures that sponsors of prescription drug plans offer real-time benefit information to Medicare beneficiaries. Real-time benefits allow providers to see the cost of a drug and its alternatives before they prescribe it to their patients. By incorporating price transparency tools, both patients and their providers can have more informed, productive conversations about their health care options.
“Seniors need AND deserve transparency on the cost of prescription drugs,” said Rep. Pete Olson. “Sadly are we seeing more Americans leave the pharmacy without needed prescriptions thanks to skyrocketing and often times unexpected costs. The Shop Rx Act will give physicians real-time information for their patients so they can make an informed decision by knowing the price of different treatment plans. Physicians and patients should be on the same page and be aware of all the options available. I’m proud to join Rep. Arrington in this fight to increase transparency and choices for our seniors.”
“For too long, Medicare patients have been unfairly subjected to an opaque and confusing process for choosing the right drug at the right price. The Shop Rx Act eliminates that obscurity by empowering patients with the critical information they need through consumer friendly, real-time benefit tools, allowing them to reduce their own out-of-pocket prescription costs and avoid surprise costs at the pharmacy. Importantly, this legislation does not add any additional administrative burdens for health care providers and strengthens the doctor-patient relationship by giving seniors the resources they need to have even better-informed conversations with their doctors,” said Rep. Jodey Arrington.
“Marketplace innovation thrives when consumers, not the government, are free to choose the best option for their needs and their budget. This legislation will provide both greater clarity and increased choice to American patients when making decisions with their doctors about treatment options, and I look forward to working with my colleagues to help deliver the transparency that patients and providers alike deserve.”
Real Time Benefit Tools (RTBT) Facts:
- 3 in 10 Americans skip filling their prescription or taking their medication as prescribed due to prohibitive costs, according to the Kaiser Family Foundation.
- 75% of patients reported receiving a prescription that cost more than they expected.
- After CVS implemented a real time technology program in 2017, they saw physicians switch to a lower cost alternative 40% of the time when available, resulting in an average of $130 in savings per prescription.
- 86% percent of providers surveyed stated that a reliable real time benefits tool would benefit their patients’ and allow them to make more informed decisions and have more meaningful decisions with their doctors when it comes to treatment.
Media Contact: Cate Cullen