Latest news with #LynneTerry
Yahoo
30-05-2025
- Business
- Yahoo
Nevadans deserve affordable prescriptions, not PBM exploitation
Three pharmacy benefit managers — CVS Health, Optum Rx, and Express Scripts – control 80% of the prescription drug market. Each of them are owned by giant health insurance companies. (Photo: Lynne Terry/Oregon Capital Chronicle) The Nevada legislative session will end in just a few days — and time is running out to pass legislation that'd save Nevadans millions of dollars on their pharmacy bills. Senate Bill 316 would curb the power of pharmacy benefit managers, the secretive middlemen hired by insurers to negotiate prices with drugmakers and process prescription claims. Because PBMs dictate which drugs an insurer covers — and, thus, which medications patients can access — they wield immense power over our health care. And they use that power to line their own pockets at the expense of Nevada patients and small businesses. Here's how it works. Drugmakers offer insurers and their pharmacy benefit managers (PBMs) discounts and rebates on medications — in exchange for agreeing to cover a medicine and steer patients toward it. PBMs profit by keeping a share of those discounts and rebates, and also by charging administrative fees based on a percentage of the drug's nominal 'list' price. Since expensive drugs lead to larger discounts, fees, and profits, PBMs have a perverse incentive to steer patients toward higher-priced drugs. The result? PBMs secretly extract billions of dollars from drugmakers annually, while patients pay higher out-of-pocket costs for prescription medications and are denied coverage for cheaper alternatives. This dynamic is devastating for Nevadans, over 80% of whom report worrying about affording future healthcare costs. PBMs' manipulation of drug coverage often strips doctors and patients of the ability to decide which medication is best for an individual's healthcare needs. And PBMs harm patients in other ways as well — most notably by putting trusted, local community pharmacies out of business and forcing Nevadans to travel much further to pick up prescriptions. PBMs often reimburse these independent pharmacies much less than their affiliated pharmacies. A Federal Trade Commission report examined reimbursement for two drugs and found that PBMs paid their affiliated pharmacies 20 to 40 times more than the National Average Drug Acquisition Cost. In some cases, independent pharmacies actually lose money every time a patient fills a prescription due to PBM clawbacks and fees. This has put immense financial strain on our state's independent pharmacies, which filled 5 million prescriptions in 2023. Indeed, over the last decade, about one in ten rural independent pharmacies across the nation have closed. That limits patient choice and makes it harder for Nevadans to fill urgently needed prescriptions. PBMs' exploitative practices also hurt small businesses in Nevada, which are already operating on thin margins. As the costs of prescriptions and employee health plans rise, small companies are forced to cut back on expansion plans, hiring, and employee benefits. SB 316 would put an end to this abuse and enact reforms that Nevadans overwhelmingly support. For starters, the bill would tie a PBM's compensation to the value of the service it provides, instead of the list price of medications. That would eliminate PBMs' incentive to favor more expensive drugs over lower-cost ones. In a recent poll, 85% of state residents supported such a policy. The legislation would also create more transparency and accountability over PBM practices. Today, the middlemen often operate in a black box, with patients and other health plans unaware of the consolidation and conflicts of interest that dictate PBM practices. SB 316 would establish a duty of care, requiring PBMs to put patients' interests ahead of their own. Roughly nine in ten Nevadans are in favor of such a provision, according to the new poll. The bill would further prohibit PBMs from reimbursing any pharmacy less than it reimburses an affiliated pharmacy. That would stop us from losing yet more independent pharmacies that provide critical services to patients across the state. SB 316 would ensure much-needed oversight of PBMs and restore fairness to the marketplace in the state. More than 80% of Nevadans are very or extremely concerned that no such oversight currently exists. Legislators must not let the session expire without easing those concerns — or preventing PBMs from exploiting Nevada businesses and patients for their own financial gain.
Yahoo
21-05-2025
- Business
- Yahoo
Oregon bill, headed to governor, sets homeownership goals by 2030
Two condos for sale in North Portland. (Lynne Terry/Oregon Capital Chronicle) Saying homeownership is crucial to building wealth and stability, Oregon lawmakers want more than 30,000 more Oregonians to own homes by 2025. The Oregon Senate on Tuesday in a 23-6 vote passed House Bill 2698, which would create a state goal to increase homeownership rates to 65% by 2030 – followed by an additional 1.65% for the next five, 10 and 15 years. It also mandates the Oregon Housing and Community Services Department create a dashboard tracking progress on homeownership rates across the state that include race and ethnicity data. That's to ensure Oregon is working toward closing homeownership gaps between different racial and ethnicity groups, bill sponsor Sen. Deb Patterson, D-Salem, said on the Senate floor. Census data analyzed by the Oregon Employment Department shows that while 67% of white Oregonians and 62% of Asian Oregonians own their homes, only 30% of Black Oregonians, 47% of Hispanic Oregonians and 51% of Native American Oregonians are homeowners. Latest available data shows 63.4% of Oregonians own their homes, and the state ranks 39th in the nation for homeownership, according to the U.S. Census Bureau. Neighboring Washington, California and Nevada have lower rates, while Idaho is higher. Decades of declining housing construction, a rising population and stagnant wages — particularly in the mid-2000s — contributed to Oregon's current housing crisis. Oregon has 242,000 low-income households, yet only 113,000 housing units are affordable and available to them, according to data from the housing and community services department. 'Home ownership is a priority for the majority of Oregonians,' Patterson said. 'It's a time-tested means of building generational wealth and promoting long term economic stability for Oregonians and the communities we share.' While the bill doesn't address all issues related to housing, she said setting goals is an important step to guide policy. The bill already passed the House in a 42-8 vote. Now that it's passed both chambers, it is headed to Gov. Tina Kotek's desk where she can sign it into law, let it become law without her signature or veto it. It would take effect immediately. While most senators supported the bill, some legislators raised concerns that the state of Oregon needs to prioritize policies to increase the state's housing supply. A report in January showed Oregon needs to build about 29,500 more homes each year, mostly in the Portland and Willamette Valley region, to meet the state's housing demand. 'We can set goals, we can have dashboards… but until this state makes policy decisions to allow more supply, which means compromise with folks that don't want to increase supply, then we are going to see this systemic problem continue,' said Sen. Mike McLane, R-Powell Butte. Sen. Noah Robinson, R-Cave Junction, said he supports homeownership and wants to make progress toward increasing it. However, he said he doubts dashboard and setting goals are the right way to do so. 'I think we're just going to spend a bunch of money publishing a tracker of where we're hoping to go, and what we really need to do is change state laws and make it easy,' he said. SUPPORT: YOU MAKE OUR WORK POSSIBLE
Yahoo
20-05-2025
- Health
- Yahoo
Tax breaks, drug discounts — and no receipts: The 340B abuse you're paying for
OHSU Hospital is located on Marquam Hill in southwest Portland. (Lynne Terry/Oregon Capital Chronicle) Beyond providing quality health care, tax-exempt hospitals have substantial responsibilities to the public. These hospitals not only avoid nearly all taxes — they also reap billions of dollars in financial benefits from a federal prescription drug program known as 340B. The 340B drug discount program was created in the 1990s to help low-income Americans access affordable medications and to support healthcare providers in underserved areas. But today, those drug discounts are being captured by corporate hospital systems and big box pharmacies, with no guarantee patients benefit at all. So, while Oregon hospitals are supposed to use 340B savings to improve access to affordable care for patients in need, there are significant questions as to whether they are meeting their obligations. We do know they are devoting less of their resources to charity care than the national average. And Oregon's big health systems are not exactly putting a damper on the doubts as they continue to fight to keep their finances and policies hidden from public view. Oregon Health & Science University (OHSU) and another U.S. hospital recently sued the federal government to block an audit on how the hospitals are handling their 340B dollars. This isn't an isolated case. It's part of a disturbing pattern across Oregon's tax-exempt 340B hospitals. Just look at Providence Health: Providence had to refund over $20 million in medical bills to low-income residents and cancel another $137 million in medical debt because of its over-aggressive debt collection practices, which were so egregious they warranted a feature in the New York Times describing how patients' lives were ruined. The hospital system was then accused with stonewalling an investigation by the Oregon Department of Justice into similar debt collection practices. And then, Providence – which, again, is supposed to be using its tax benefits and 340B resources to improve care to local communities – is attempting to sell its home health and hospice operations to an out-of-state private equity firm which could diminish care for thousands of Oregon residents. Hospitals are vital pillars of our communities. They are so important that it makes it all the more distressing when hospitals focus more on their financial bottom line than on keeping Oregonians healthy. A recent investigation by the U.S. Senate revealed that hospitals are collecting revenue through the 340B drug program, but fail to share those savings with their patients. The program is in dire need of reform but big hospitals and PBMs don't want to see alterations anytime soon. That's why they are lobbying state legislatures around the country to increase their access to 340B discounts. In Oregon, they're pushing House Bill 2385, expanding their access to 340B profits while doing nothing to ensure transparency or community benefit. This misguided bill doesn't protect patients. It protects powerful corporate institutions and undermines public trust. When hospitals benefit from taxpayer support, they have a duty to show how those dollars are used. Oregonians deserve answers. It's time for hospitals to open their books and prove they are truly serving the public — not exploiting the system for financial gain. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX
Yahoo
25-04-2025
- Yahoo
A smart investment in Oregon's future: the Frog Ferry
A view of the Willamette River in Portland. The Frog Ferry would have up to nine stops for passengers from Oregon City to Vancouver. (Photo by Lynne Terry/Oregon Capital Chronicle) As Oregon legislators craft this year's transportation package, there's one project that deserves serious attention because it makes good sense. The Frog Ferry is ready to launch, and it's a commonsense transportation alternative. To be clear, the Frog Ferry wouldn't stop in my rural community in Pendleton, Oregon. But I served as the executive director for the Port of Portland and the director and CEO of the Washington State Ferry System, and I've learned a lot about what it takes to move people and goods efficiently. I also understand the importance of making smart transportation investments. This isn't about Portland vs. the rest of Oregon — it's about recognizing innovative solutions that work for the whole state. The Frog Ferry has the potential to ease congestion, drive economic activity, and connect our region more efficiently using infrastructure that already exists — our rivers. Earth Day is this week. As we reflect on how to build a more sustainable future, it's worth asking: what if our waterways could once again become part of the solution? The Willamette River is underutilized as a transportation corridor. By tapping into it, we're not only addressing our traffic woes, we're taking meaningful steps to reduce carbon emissions, shrink our environmental footprint, and promote a cleaner commute. Ferry service offers a low-emission, high-efficiency way to get people where they need to go — and it helps us meet climate goals without reinventing the wheel. We've all heard the frustration: the system is strained. Our roads are clogged. Productivity is lost every day in traffic. That's not just an urban inconvenience — it's a statewide drag on our economy. If there's a solution that can relieve pressure on Interstate 5 and Interstate 84, support our workforce, and strengthen regional connections, we owe it to Oregonians to explore it. The Frog Ferry team has done the groundwork. They've secured federal interest, completed feasibility studies, and built strong public-private partnerships. The vision is clear: a passenger ferry service that connects commuters and tourists to downtown Portland while bypassing the worst traffic choke points. And crucially, this isn't just a local amenity. A functioning ferry system in the Portland metro area reinforces the entire state's economic engine and resilience. Having led similar initiatives in Washington, I can say with confidence that our neighbors to the north are scratching their heads as to why Oregon hasn't moved forward on such a common-sense idea. Nationally recognized ferry experts are cheering this on — and so should we. We cannot afford to keep doing the same things and expect different results. It's time to embrace forward-thinking solutions like the Frog Ferry. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX
Yahoo
26-03-2025
- Health
- Yahoo
Colorado bill could offer a lifeline for patients like me
(Lynne Terry/Oregon Capital Chronicle) At first glance, you wouldn't know it, but I have a rare, life-threatening genetic condition. I was born with severe hemophilia, a disorder that prevents my blood from clotting properly. Without medication, my joints swell uncontrollably, my elbows, knees, and ankles becoming the size of cantaloupes. The increase in pressure due to blood flooding the joint cavity results in unimaginable pain and permanent damage to my joints. Without medication, my life expectancy is just 25 years old. But with access to life-saving treatment, my reality is completely different. I am a devoted husband and father. I'm a college graduate — Go Buffaloes! — and a former educator, having taught science to at-risk youth in Denver and Aurora public schools. I love Colorado's great outdoors, and, at 40 years old, I am thriving. But that is only because I have access to the medication I need. House Bill 25-1094 will hold pharmacy benefit managers accountable and rein in the sky-high costs of prescription drugs. PBMs are middlemen in the drug pricing system, quietly working behind the scenes but exerting enormous influence over the cost of our medications. They were originally created to help reduce drug prices, but today they profit by jacking up prices instead of passing savings on to patients. While it becomes harder and harder for patients like me to afford medications, PBM profits have skyrocketed by 438% over the past decade. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX I have lived through the consequences of this broken system. I have been denied access to the medication I need. I have been told to try and fail on less costly treatments — medications that simply won't stop the bleeding. The uncertainty and stress that come with fighting for access to treatment take a toll, not just on me but on my family as well. I am far from alone in this struggle. Millions of Americans with chronic conditions — whether it's hemophilia, multiple sclerosis, arthritis or epilepsy — face the same uphill battle against an industry designed to maximize profits at the expense of patients. The bottom line is simple: PBMs should not be allowed to profit off higher drug prices. HB-1094 would change this by requiring PBMs to operate with transparency and prioritize savings for patients, rather than padding their own bottom lines. The bill would ensure that PBMs make money from a transparent, flat-dollar service fee instead of a percentage of the drug's price, removing the incentive to push for higher costs. For patients like me, this is not just a policy debate — it's a matter of life and death. If I lose access to my medication, I lose everything. I am living proof of what happens when people with chronic conditions receive the care they need: We contribute to our communities, our families, and our state. But when that care is out of reach, the consequences are devastating. Colorado has an opportunity to stand up for patients and ensure that no one has to suffer or sacrifice their future because of an unjust system. HB-1094 is not just about reforming PBMs — it's about making sure every Coloradan has a fair shot at a healthy life. SUPPORT: YOU MAKE OUR WORK POSSIBLE
