WOONSOCKET, R.I., March 15, 2018 /PRNewswire/ -- CVS Health
(NYSE: CVS) today released the following statement regarding the
''Patient Right to Know Drug Prices Act," introduced by U.S.
Senators Collins, McCaskill, Barrasso, Stabenow and Cassidy and the
"Know the Lowest Price Act of 2018," introduced by U.S. Senators
Stabenow, Collins, Wyden, Cassidy, McCaskill and Barrasso. These
bills prevent companies from instituting contract provisions, known
as "gag clauses," which prohibit pharmacists from informing
patients if the cash price of a prescription is lower than the cost
the patient would pay using their health insurance.
"CVS Health applauds the introduction of the "Patient Right to
Know Drug Prices Act," and the "Know the Lowest Price Act of 2018,"
which will help ensure all consumers can make informed decisions
about their prescription drug costs at the pharmacy counter.
CVS Health's own pharmacy benefit manager, CVS Caremark, does not
engage in the practice of preventing pharmacists from informing
patients of the cash price of a prescription drug, known as "gag
clauses." Actually, our contracts with all dispensing
pharmacies in our network require that CVS Caremark members always
get the benefit of at least the lower of the pharmacy's cash price
and the plan's copay. If a CVS Caremark plan member's copay
for a drug is greater than the dispensing pharmacy's contracted
rate, it is not our practice to collect that difference from the
pharmacy. We are pleased to see these bills align the industry to
these consumer best practices and applaud Senators Collins,
Stabenow, Wyden, McCaskill, Barrasso, and Cassidy for their
leadership."
About CVS Health
CVS Health is a pharmacy innovation
company helping people on their path to better health. Through its
more than 9,800 retail locations, more than 1,100 walk-in medical
clinics, a leading pharmacy benefits manager with more than 94
million plan members, a dedicated senior pharmacy care business
serving more than one million patients per year, expanding
specialty pharmacy services, and a leading stand-alone Medicare
Part D prescription drug plan, the company enables people,
businesses and communities to manage health in more affordable and
effective ways. This unique integrated model increases access to
quality care, delivers better health outcomes and lowers overall
health care costs. Find more information about how CVS Health is
shaping the future of health at https://www.cvshealth.com.
Media Contact:
Erin Shields Britt
(401) 770-9237
Erin.Britt@CVSHealth.com
Christine Cramer
(401) 770-3317
Christine.Cramer@cvshealth.com
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SOURCE CVS Health