Sweeney: Legislation Monitoring Pharmaceutical, Health Care Claims Pays Off in Lower Premiums

Senate President: SHBP, SEHBP cuts due to Pharmacy Benefits Manager, Third Party Administrator initiatives

Trenton – Senate President Steve Sweeney today issued the following statement after the Plan Design Committees of the State Health Benefits Plan and the School Employees Health Benefits Plan approved reduced 2020 premiums:

“The 4 percent average reductions in healthcare premiums for employees enrolled in the state health benefit plans in 2020 is just the first down payment on hundreds of millions of dollars in savings on prescription and medical payments that will be produced through the Pharmacy Benefits Manager and Third Party Administrator programs’ claims monitoring.

“We fought successfully to enact the Pharmacy Benefits Manager program to control prescription drug overbilling in 2016, and Senate Budget Chair Paul Sarlo made the Third Party Administrator program for medical claims a centerpiece of our Path to Progress agenda. It is great to see these programs bearing fruit.

“This is just the first step. Our Path to Progress healthcare proposals would produce over $1.4 billion in local property tax savings and $700 million in state budget savings each year, and over $400 million in premium savings for public employees. We can – and will –provide quality healthcare for public employees at a price taxpayers can afford.”

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