Reject the Big Pharma Money Grab

Send a Letter
Ask your lawmaker to oppose SB 62!

Dear [Lawmaker],

Thank you for your service to the people of New Mexico. I write to encourage you to oppose Senate Bill 62 which would hike health care costs for New Mexican patients, employers and unions by more than $97 million, while boosting profits for pharmaceutical companies.
New Mexican families, many of whom rely on an employer or union for their coverage, deserve access to affordable, high-quality health care. Senate Bill 62 would ban pay-for-performance incentives in the private health care marketplace that are essential for employers and unions to secure significant savings on prescription drugs, directly leading to higher premium costs for patients.
An analysis of this policy, called “delinking,” conducted by the former chief economist for the U.S. House Committee on Ways & Means, found it would cause premiums for New Mexican patients and families to increase by more than $97 million in the first year alone.
This would place an unsustainable burden on people in our communities already dealing with several years of elevated costs on essential everyday goods. It would worsen New Mexico’s climate for growth and opportunity, making it more challenging for employers and unions to offer affordable, high-quality health care coverage.
That is because employers and unions rely on pharmacy benefit managers (PBMs) to pool their negotiating power — unlocking savings based on volume and using that savings to lower cost-sharing for the people whose insurance they sponsor, including on monthly premiums.
Employers and unions should be free to pay for the services of the PBM they’ve voluntarily elected to hire based on what they feel is best for their business, union and community of people, including incentivizing the PBM to secure greater savings negotiating on their behalf — greater savings that lowers costs for New Mexican families.
Senate Bill 62 does nothing to address the cause of high prescription drug costs. Instead, it would undermine savings, competition and flexibility in the private market, exacerbating challenges of affordability and rewarding Big Pharma for egregious price-gouging and anti-competitive practices.
New Mexican patients and families cannot afford a more than $97 million hike to their health care costs. That’s why I urge you to oppose “delinking” and reject Senate Bill 62.
Thank you for your consideration and for your commitment to the people you represent.

Sincerely,
______

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