Sweeney to Testify Before Maryland Legislature on Success of NJ’s PBM Initiative

Trenton – Senate President Steve Sweeney will appear before a committee of the Maryland House of Delegates tomorrow to discuss the success of New Jersey’s Pharmacy Benefits Manager initiative, providing guidance to Maryland lawmakers who are working on legislation modeled on New Jersey’s reverse auction program, which will save over $2.5 billion in prescription drug costs.

Senator Sweeney, who sponsored New Jersey’s PBM legislation, was invited to speak before a legislative panel that is considering legislation, HB1150, the State Health and Welfare Benefits Program – Maryland Competitive Pharmacy Benefits Manager Marketplace Act, modeled on New Jersey’s plan.  

“I am honored to be invited to Maryland to share information about the success of New Jersey’s PBM program,” said Senator Sweeney (D-Gloucester/Salem/Cumberland). “Our experience in using a reverse auction to produce substantial savings can serve as a model for other states. It’s an innovative way of adopting a technology platform to create a competitive, online market. Think of it as an ‘eBay’ for PBMs.”

Senator Sweeney offered to assist the Maryland legislators in implementing the New Jersey model.

The hearing by the Committee on Health and Government Operations will be held on Thursday, February 27^th at 1:00 p.m. in the House Office Building, 6 Bladen Street in Annapolis. 

(See this blog post, “To Address Costs, Annapolis Should Look North to Trenton:”  http://centermaryland.org/index.php?option=com_content&view=article&id=199058:dr-michael-kapsa-to-address-drug-costs-annapolis-should-look-north-to-trenton&catid=13&Itemid=223)