WASHINGTON, D.C. (April 28, 2022) – The Pharmaceutical Research and Manufacturers of America (PhRMA) President and CEO Stephen J. Ubl released the following statement after the Centers for Medicare & Medicaid Services finalized the Notice of Benefit and Payment Parameters (NBPP) rule that includes policies to help lower out-of-pocket costs for patients:
“Today’s Biden Administration decision on standardized benefit designs is a win for patients by ensuring insurance works like it should. This will make a real difference in lowering costs at the pharmacy for patients who get their insurance from HealthCare.gov. These types of reforms help build a better health care system for everyone.”
The Pharmaceutical Research and Manufacturers of America (PhRMA) represents the country’s leading innovative biopharmaceutical research companies, which are devoted to discovering and developing medicines that enable patients to live longer, healthier and more productive lives. Since 2000, PhRMA member companies have invested more than $1 trillion in the search for new treatments and cures, including $91.1 billion in 2020 alone.