Gov. JB Pritzker announced that 434 Illinois pharmacies will receive nearly $25 million in support, the first distribution of annual funding established through legislation he signed last year. The fund was designed to assist pharmacies most at risk of closure or financial strain, especially those in rural and low-income communities with limited healthcare access.

Supporting Local Pharmacies

The money was established under bipartisan legislation Pritzker signed last July. The bill, known as the Prescription Drug Affordability Act, put new regulations on pharmacy benefit managers (PBMs), companies that are responsible for negotiating drug prices between employer health insurance plans and pharmaceutical drug companies.

The legislation prohibited PBMs from steering customers toward large pharmacies in which they have a financial interest — often to the detriment of smaller independent pharmacies — and required they pay a fee based on the number of individuals in the state enrolled in the PBM’s plans. The first $25 million in fees collected were placed in a special fund for independent pharmacies, which can use the money to support existing operations, as well as expansions of business hours and new offerings, such as telepharmacy services, remote consultations, and medication delivery.

For a Sav-More pharmacy in Virden, Illinois, the funding has allowed the location to partner with Carlinville Hospital to construct a new 3,500 square-foot facility next to a new clinic, featuring “ample parking, modern technology, (and) a drive-through,” and employing additional staff.

Original reporting: Block Club Chicago — read the source article.