AMAC Supports the Pharmacy Benefit Manager Transparency Act

This bipartisan bill would prevent the use of anti-competitive practices by requiring PBMs to be more transparent and hold them accountable to the rule of law.

June 16, 2022

The Honorable Maria Cantwell
Senator from Washington
511 Hart Senate Office Building
Washington, DC 20510

The Honorable Chuck Grassley
Senator from Iowa
135 Hart Senate Office Building
Washington, DC 20510

Dear Senators Cantwell and Grassley,

On behalf of the over 2.3 million members of the Association of Mature American Citizens – AMAC, I
write in support of S. 4293, The Pharmacy Benefit Manager Transparency Act 2022. This bipartisan
legislation will help drive down consumer costs for seniors by holding pharmacy benefit managers (PBM)
accountable for the use of anti-competitive business practices.

As an organization representing mature Americans, we are concerned with the PBM issue as it pertains
to our members, many of whom are negatively affected by the increasing costs of prescription drugs. An
overwhelming majority of seniors report that they are currently taking a prescription medication. A
recent Kaiser Family Foundation poll found that 75 percent of Americans aged 50-64 and nearly 90
percent of respondents over age 65 report they are currently taking prescription medications.

Pharmacy benefit managers were created to manage drug benefits for insurance plans and lower costs
for consumers, but over the years these middlemen have expanded beyond their original purpose.
AMAC has been very vocal on behalf of our members about the layers of anti-competitive business
practices used by PBMs, including reducing market competition for drugs, overburdening consumers
with excess payments, and shifting patients to costlier drugs. None of these practices are in the best
interest of the patient.

The Pharmacy Benefit Manager Transparency Act 2022 would prevent the use of anti-competitive
practices by requiring PBMs to be more transparent. The legislation holds PBMs accountable to the rule
of law if they continue these business practices in bad faith.

The Association of Mature American Citizens – AMAC is committed to ensuring senior citizens’ interests
are protected and thanks you, Senators Cantwell and Grassley, for introducing this important and timely
bipartisan bill.

Sincerely,
Bob Carlstrom
President
AMAC Action