I just paid more than double for my BP medicine! Here is why: On June 30th, less than 4 hours before the midnight shutdown of the NJ State Government, a 3-year contract was awarded to Optum Rx, the winning PBM.
In calendar year 2018, the state’s new PBM contract will save New Jersey nearly $350 million in prescription drug spending, or nearly $30 million per month. Even larger dollar savings are estimated for calendar years 2019 and 2020, the second and third years of the State’s PBM contract with Optum Rx. “We are rooting out PBM profiteering at the expense of New Jersey taxpayers and public employees,” Senator Sweeney said. In a similar vein, NJEA President Wendell Steinhauer observed, “Without the technology-enabled auction, that $1.6 billion in savings would have shown up simply as extra profits for private companies at the expense of our members and other taxpayers.” “We couldn’t have gotten here without America’s Agenda,” said.
NJEA’s Kevin Kelleher. “They gave us the roadmap.
They’ve kept us together, guided our progress, built momentum to transform health care. We’re on our way!”
Product or Service Mentioned: Optumrx Prescription Refill.
Reason of review: Pricing issue.