Arkansas law becomes national model to lower people’s out-of-pocket costs
CONWAY, Ark. – Arkansas Lieutenant Governor candidate and State Senator Jason Rapert (R-Conway) today released the following statement regarding the successful passage of his national Accumulator Adjustment Program Model Act at the recent National Council of Insurance Legislators Fall Annual Meeting:
“Americans face higher and higher out-of-pocket cost for their essential, and often lifesaving, medications. I was proud to take our state’s recently enacted fairness in cost-sharing law and use it as a basis for a national model that will result in more money in people’s pockets by preventing Pharmacy Benefit Managers from ‘double dipping’ and collecting funds from assistance programs and patient deductibles for the same prescription.”
Rapert was the Senate sponsor of Act 965 of 2021, the bipartisan “Arkansas Fairness in Cost Sharing Act” that prohibited insurance companies and Pharmacy Benefit Managers (PBMs) from refusing to count third-party cost-sharing assistance toward a patient’s out-of-pocket prescription costs and thus restrict patient access to prescription drugs.