Like most Americans, Coloradans are continuing to face financial challenges when it comes to affording the rising cost of health care. In fact, one recent survey from the Colorado Health Institute found approximately one of every five Coloradans didn’t fill a prescription, get general doctor care, or receive specialty care when they needed it due to costs — that’s more than 1.1 million people in our state.

When needed health care is delayed or avoided altogether, health outcomes inevitably worsen down the line, which in turn increases overall health care costs and represents a drain on our state’s economy.

For the thousands of working families in the state who rely on an employer or union for their health care coverage, there are new potential financial headwinds ahead when it comes to accessing affordable prescription medications — a policy known as “delinking” currently considered in the state legislature through House Bill 1094.

The bill would ban pay-for-performance incentives in the private health care marketplace. In practice, this means pharmacy benefit managers (PBMs), who employers and unions rely on to pool their negotiating power and secure significant savings based on volume, would no longer be incentivized to secure bigger savings for the employers and unions that hire them to do just that. Currently, PBMs demonstrate to save an average of $1,040 per patient, per year on prescription drug costs.

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If passed, HB-1094 would cause premiums for Coloradans to soar. In fact, an analysis of this policy approach conducted by the former chief economist for the U.S. House Committee on Ways and Means found it would lead to premiums rising for working families by more than $118 million in the first year alone — money that would go straight into the pockets of big pharmaceutical companies instead of being used to save patients money on prescription drugs.

At a fundamental level, any employer or union in our state should be allowed to pay for the services of the PBM they’ve chosen to hire based on what they feel is best for their operations and employees. This bill will make it that much harder for employers large and small across our state to negotiate discounts on behalf of those enrolled in their health plans.

Coloradans cannot afford a $118 million increase in premiums in just one year. As a member of the legislature, I fought to ensure rural Colorado had access to affordable health care options, particularly when struggling to recover from the scourge of the pandemic. Now, with inflationary pressures and other challenges resulting from the freezing of more than $570 million in federal funds for Colorado, placing yet another financial strain on the budgets of working Colorado families — just to line the pockets of Big Pharma — is an ill-advised policy simply out of touch with the needs of the people and businesses across our state.

This legislation fails to address the root cause of high prescription drug costs — Big Pharma. Instead, this bill would reward Big Pharma for their anti-competitive practices at the expense of my fellow Coloradans while undermining savings, competition and flexibility in the private health care market.

As a farmer and rancher myself for decades, there’s an expression we use to relay common sense: don’t drink downstream from the herd. Unfortunately, it appears some of my former colleagues in the legislature either don’t understand or don’t care about the downstream effects this legislation would have on employers, unions and Colorado’s working families.

Let’s show some common sense — don’t pass Big Pharma’s cash grab, and reject HB 1094.

Donald Valdez is a former state representative for Colorado’s House District 62, and is currently a rancher.