I am writing to urge you to co-sponsor Cole’s Act, LRB 1278/1 and LRB 2364/1. This legislation is a critical step toward reining in the unchecked power of Pharmacy Benefit Managers (PBMs) and ensuring patients receive the medications they need without financial barriers or deadly delays.

The Evolution of PBMs and Their Dangerous Shift
PBMs were originally established in the late 1960s and 1970s to manage administrative tasks and streamline transactions between pharmacies and insurers. Initially, they played a fair role, ensuring modest discounts and minimal kickbacks. However, over time, the Big 3 PBMs have shifted their focus from patient care to maximizing profits, now dictating formularies based on profitability rather than medical necessity.

The Problem: A $330 Billion Industry Built on Greed
Last year alone, PBMs extracted $330 billion in "black box" profits—money that should have remained in the hands of patients. These massive profits come at the direct expense of patients, employers, and independent pharmacies.

A Tragic Example: Cole’s Story
Cole Schmidtknecht, tragically lost his life on January 21, 2024—death by formulary manipulation. His daily steroid inhaler, crucial for managing his condition, was abruptly dropped by PBMs without proper notice. In December 2023, the cost of his medication was $66.00; by January, it had skyrocketed to $539.19—an insurmountable price increase. This is not an isolated case; thousands of patients face similar obstacles due to PBM profit-driven decisions.

The Need for Reform, Not Extinction
PBM reform is not about eliminating these entities but about ensuring they operate transparently and ethically. Unregulated PBM practices continue to harm patients, inflate prescription costs, and shutter community pharmacies. This must stop. Cole’s Act aims to bring accountability and fairness back to the system.

For more detailed information on PBMs and ongoing legislative actions, please visit www.patientprotector.us. Additionally, an upcoming docuseries at www.modermedicalmafia.com will expose key players behind escalating drug costs.

Take Action Now
I implore you to stand with patients, families, and businesses by co-sponsoring Cole’s Act (LRB 1278/1 and LRB 2364/1). We cannot allow profit-driven middlemen to dictate the health and lives of Americans. Please reach out if you have any questions or need further information.

Thank you for your time and attention to this urgent matter.