September 17, 2018 – Today, New Jersey Governor Phil Murphy announced that the state’s online reverse auction for the pharmacy benefit manager (PBM) contract lowered prescription drug spending for state and local government workers by 25%. The savings from the America’s Agenda-designed program was so significant that health insurance premiums for the State’s public education employees will be reduced by 1.1% for the upcoming year. This contrasts with a 13% increase that workers faced last year.
Mark Blum, executive director of America’s Agenda stated: “This is further evidence that the creation of dynamically competitive markets for state selection of pharmacy benefits plans can provide real relief for states’ strained budgets and taxpayers’ wallets without eroding the benefits of dedicated public employees.”
To read the press release from the Office of the Governor of New Jersey, click here.