The Senate Banking & Insurance Committee will soon vote on S.342 — a bill that will significantly raise prescription drug costs and health insurance premiums for the individuals, families, and businesses you serve every day. We need your voice now to help stop it.
S.342 forces the state to mandate pharmacy reimbursement rates and lock in a legally required payment formula tied to federal benchmarks plus a $10.50 dispensing fee — more than five times what is typically paid today. These new mandates would guarantee higher payouts to pharmacies, regardless of affordability or market conditions, and the result is clear: your clients will pay more.
What S.342 Means for Your Clients
- Approximately $8.50 added to every prescription filled in South Carolina (a 525% increase)
- Estimated $330 million in new statewide drug spending every year
- Higher premiums – adds up to an additional 3% increase on top of traditional price changes
- Increased financial pressure on small businesses already struggling with rising costs
These are dollars directly out of the pockets of your customers — employers trying to keep their workforce covered, seniors on fixed incomes, and families already stretched thin.
Why Agents Must Speak Up
As trusted advisors, you understand better than anyone how even modest premium increases impact your clients’ ability to maintain coverage. S.342 accelerates those costs dramatically and does nothing toaddress the true driver of high drug prices: the list prices set by drug manufacturers.
Your perspective carries weight with lawmakers. They need to hear from the agents who work on the front lines of affordability every day.
Take Action Today
Please contact members of the Senate Banking & Insurance Committee and urge them to vote NO on S.342. Tell them:
- This bill raises premiums and increases drug costs for South
- It imposes rigid state-mandated pricing formulas that drive spending
- It places a heavy burden on small businesses and working
- It does nothing to address drug manufacturer pricing — the real
Your Voice Matters
Agents have a powerful role in protecting access, affordability, and stability in our health insurance market. Now is the time to speak up for your clients. Thank you for your leadership and advocacy.
Members of the Senate Banking & Insurance Committee to contact:
Senator Ronnie Cromer – Chairman
District 18: Lexington, Newberry and Richland Counties
Office Phone: 803-212-6240
Senator Luke Rankin
District 33: Horry County
Office Phone: 803-212-6610
Senator Tom Davis
District 46: Beaufort and Jasper County
Office Phone: 803-212-6080
Senator Kent Williams
District 30: Darlington, Dillon, Florence, Marion Counties
Office Phone: 803-212-6000
Senator Billy Garrett
District 10: Greenwood, Lexington and Saluda Counties
Office Phone: 803-212-6016
Senator Mike Reichenbach
District 31: Florence County
Office Phone: 803-212-6016
Senator Lee Bright
District 12: Greenville and Spartanburg Counties
Office Phone: 803-212-6000
Senator Darrell Jackson
District 21: Richland County
Office Phone: 803-212-6048
Senator Thomas Alexander
District 1: Oconee and Pickens Counties
Office Phone: 803-212-6220
