Voters see a better path than Most Favored Nation to ensure access and affordability of innovative medicines
The Biotechnology Innovation Organization (BIO) is the world’s largest biotech trade association, headquartered in Washington, D.C.
Eight in 10 American voters would be more likely to support political leaders who seek to lower patient costs for drugs by reforming drug middlemen, insurers, and the 340B program, a new Biotechnology Innovation Organization (BIO) survey finds.
Americans also profess a strong preference for maintaining U.S. leadership in biotechnology, according to the national survey of 1,000 registered voters conducted Dec. 26-31 by KAConsulting on behalf of BIO. Nearly 9 in 10 voters say they want a thriving domestic biotech industry to ensure access to cutting-edge medicines.
Respondents indicate they favor structural reforms that lower costs for patients while avoiding policies that could disrupt medical innovation or investment in future treatments.
Insurance costs a top concern
The poll finds that insurance costs are Americans’ top healthcare affordability concern. Twenty-one percent of respondents say health insurance is their biggest monthly expense, trailing only housing (43%) and groceries (35%).
Large majorities across party lines express concerns that roughly 50 cents of every dollar spent on medicines goes to supply chain entities such as pharmacy benefit managers (PBMs).
Voters from both major parties say they are more likely to support reforms that reduce fees and markups within the healthcare system and lower out-of-pocket costs. Among the proposals tested in the survey:
- 88% support passing PBM and insurer rebates and discounts directly to consumers.
- 88% support reducing insurance co-pays to lower out-of-pocket costs.
- 88% support cutting waste and markups to reduce both premiums and medicine prices.
- 87% support requiring PBMs and insurers to share negotiated savings with patients at the pharmacy counter.
- 87% support reforms to increase transparency and accountability in the 340B program.
Why it matters
Support for these policies remains strong among Democrats, Republicans, and Independents.
As policy makers consider Most Favored Nation (MFN) legislation, this polling clearly shows that healthcare affordability—particularly insurance costs and supply chain markups—remain a top priority for voters. Voters also overwhelmingly support maintaining a strong U.S. biotech sector, so that Americans can access innovative treatments. Support for MFN proposals weaken once voters gain a better understanding of the implications to patients, American innovation, and the failure of the policy to strike at the heart of access and affordability issues.
Read more: Simplify the System.