Prairie State Wire

NFIB Illinois has submitted a written testimony to the Illinois House Health Care Availability Committee, advocating for increased transparency in pharmacy benefit manager (PBM) pricing. The organization highlights the challenges faced by small and independent pharmacies operating within a highly regulated market, which they argue disadvantages them compared to larger competitors.

The letter urges committee members to engage with local pharmacists to understand their experiences and address the market imbalance resulting from current regulations. NFIB Illinois State Director Noah Finley emphasized that "small and independently owned businesses, including pharmacies, are the lifeblood of our communities." He added that these businesses deserve a fair chance to compete with larger entities.

The testimony underscores the need for greater transparency in PBM pricing, as the complex pharmaceutical marketplace currently places small pharmacies at a disadvantage. Under existing regulations, many small pharmacies are compelled to sell medications below cost, threatening their sustainability.

A recent NFIB-member ballot in Illinois revealed that 79% of respondents support requiring PBMs to disclose their pricing methods. Consequently, NFIB is encouraging the House Health Care Availability & Accessibility Committee to explore proposals aimed at rectifying market distortions affecting pharmaceutical products.

Finley expressed gratitude for the committee's support of Illinois' small-business community and reiterated NFIB's call for action on this issue.