Posted by Michael Wonder on 09 Nov 2019
Employers call on congress to take action on drug prices as the cost of providing coverage grows
8 November 2019 - The high cost of healthcare is putting a strain on employers who provide health insurance coverage to their employees, and prescription drug prices are now front and centre in the push to make coverage more affordable to provide to American workers.
According to The Commonwealth Fund, about half of Americans are employed by small businesses, and as a result of rising insurance costs that are putting added pressure on these small employers’ budgets, more than 19% of these employees lack health coverage altogether, and one-fourth of small business owners say that the cost of prescription drugs is the biggest hurdle they face in providing coverage to their employees.
A number of policy proposals have been advanced in Congress with an eye toward bringing down drug costs, most notably HR 3, the Lower Drug Costs Now Act put forward by House Speaker Nancy Pelosi.
