SVEF Joins PBGH, ERIC and National Alliance in Calling on Congress to Alleviate the High Cost of Prescription Drugs for Employers and Families

WASHINGTON, D.C. – Employers’ Prescription for Affordable Drugs (EmployersRx) welcomes the Silicon Valley Employers Forum (SVEF) as a member in their fight to reform prescription drug pricing at the federal level. EmployersRx comprises large employers that are urging Congress to pass public policies that will increase competition, transparency and value to help restore a healthy drug market.

Collectively, employers purchase medical services for more than 181 million Americans and spend 21 cents of every health care dollar on prescription drugs, and it’s growing. The escalating drug costs cannot be justified by new innovation and are simply taking funds away from businesses that could be used to increase employee wages or company growth.

SVEF joins EmployersRx alongside its three founding members: the Pacific Business Group on Health (PBGH), the ERISA Industry Committee (ERIC), and the National Alliance of Healthcare Purchaser Coalitions (National Alliance).

“Drug costs are devastating businesses, employees and their families—In 2019, Congressional leaders began to help fix a broken system, but we need more action on this urgent issue,” said Lisa Yee, Executive Director at SVEF. “SVEF is  thrilled to join EmployersRx and will continue to amplify employers’ voices and call on Congress to steer us off the current unsustainable path.”

About Silicon Valley Employers Forum

The Silicon Valley Employers Forum (SVEF) is a coalition of high-tech employers that impacts and influences the evolution of global benefits through innovative plan designs and administration, sharing results and leveraging member companies to drive change in the marketplace. Member companies benchmark and share domestic and international benefits best practices to strategize, optimize, manage and create leading edge employee benefits programs and experiences in support of their employees and their employees’ family members. For more information, visit http://www.sveforum.org/.

About Employers’ Prescription for Affordable Drugs

Collectively, employers are the largest purchaser of health care in the United States, purchasing health care services for more than 153 million people. Employers’ Prescription for Affordable Drugs (EmployersRx) mobilizes large employers to advocate for policies that increase competition, transparency and value to lower the cost of prescription drugs.

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