Cutting healthcare costs is good for business
Florida has a proud history of being a pro-business, pro-growth state. This didn’t happen overnight, nor was it by accident. For years, Florida lawmakers have championed policies to grow our economy and cut bureaucratic red tape and taxes.
During my time as a State Representative, I was proud to support many of these pro-growth policies, including bills to lower property taxes and provide loans for small businesses. It’s policies like these that have made Florida the very best place in the country to do business.
To keep Florida pro-business, our lawmakers must continue pushing for policies that make Florida more affordable for employers and employees. This must include bringing health care and prescription drug costs down. I’ve seen that when healthcare is affordable, businesses can attract and retain more workers and improve their bottom line – it’s that simple. Pharmacy benefits, which small and large businesses alike count on to make healthcare affordable for their employees, play an important role in driving down the overall cost of healthcare for all of us.When it comes to supporting Florida’s 2.8 million small businesses, there shouldn’t be a one-size-fits-all approach. Pharmacy benefit managers (PBMs) allow employers to give their employees healthcare plans that are effective for them and their families. PBMs drive down the cost of prescription drugs by negotiating directly with big drug companies, and they allow patients to access their medication in ways that are most convenient for them, including delivering prescriptions right to their door.
At a time when Floridians are already struggling with inflation, our lawmakers should be doing everything they can to bring down health care costs, not increase them. A national survey released in September found that the average annual cost to provide health insurance for an employee rose by 5.2% in 2023 to over $15,000. Small businesses, which are also bearing the brunt of inflation, saw a 7.3% increase in health care costs.
Unsurprisingly, the survey found that prescription drugs have been among the key drivers of high costs for years – including an 8.4% jump in cost per employee in 2023. Pharmacy benefits can and should be part of the solution to drive down costs. It’s my hope that this legislation session, our lawmakers will remember this.
Instead of targeting pharmacy benefits, our lawmakers should focus on reigning in big drug companies which, for years, have been making record profits off the backs of hard-working families and businesses.
Across Florida, small businesses are keeping our economy moving forward. As a state, we should be doing everything we can to help them succeed. That means that instead of suffocating businesses with more red tape and unnecessary government overreach, lawmakers should prioritize protecting pharmacy benefits and driving down health care costs.
When health care costs are lower, our small businesses can hire more employees and stay competitive, which is good for our economy and for Floridians.
Jim Kallinger represented District 35 in the Florida House of Representatives between 2002 and 2004 and then served as president of the National Association of Former State Legislators. He is now chairman of Small Business and Consumers Alliance.
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This article originally appeared on Tallahassee Democrat: Cutting healthcare costs is good for business
