Consumers would have an easier time comparing prices on their prescription drugs under a proposed drug-price database bill that received the backing of the Assembly Budget Committee on June 1. The bill, a committee substitute for A-2537 (Greenstein, Conaway) and A-2656 (Johnson, Diegnan), would create the “New Jersey Prescription Drug Retail Price Registry,” listing the retail prices various pharmacies charge for the 150 most frequently prescribed drugs. The list would be updated weekly, and the information would be organized so consumers could compare the prices of pharmacies located within a particular zip code. The measure now heads to the full Assembly for consideration. A similar bill, S-1396 (Buono, Vitale), is awaiting action in the full Senate.
NJBIA supports creation of a drug-price registry. Giving consumers greater access to information about the cost of healthcare is part of NJBIA's health insurance reform agenda. By empowering consumers to shop around for the best healthcare value, they may be able to save money on the prescriptions they buy and keep their out-of-pocket expenses down. Reducing prescription drug costs would also ease the pressure on premium increases for employers who provide health insurance for their employees.
The exploding cost of health insurance is the biggest problem facing NJBIA member companies. With more than 5 million New Jersey residents receiving their health benefits from private-sector employers, this effort to help consumers lower their prescription drug cost could have a beneficial effect on health insurance inflation. For more information, contact Christine Stearns at ext. 260.
RGGI Rules Would Cause Higher Electric Bills, Reduced Supply, Business Associations Say—The model rule for implementing the Regional Greenhouse Gas Initiative (RGGI) would lead to higher energy costs, reduced electricity supply, and an unreliable electricity delivery system, according to NJBIA and other business organizations in the Northeast. In written comments submitted to the RGGI working group in May, the business organizations said the rule needs to be changed to protect against excessive price increases and to encourage the creation of new electricity generating facilities in an area that already pays 71 percent more than the rest of the nation for electricity.
RGGI requires participating states—New Jersey, Connecticut, Delaware, Maine, Maryland, New Hampshire, New York, and Vermont—to reduce carbon dioxide and other greenhouse gases by a total of 10 percent between 2009 and 2020. Under the proposed rule, each state would grant pollution allowances to electricity generators and charge fees for at least 25 percent of each company's allowance. Electric companies that exceed their allowances either would have to install new emission control equipment and upgrade their facilities or purchase a pollution credit from other companies that are below their allowances.
In their written comments, the business organizations recommended that the rule allow for alternatives to this requirement if the prices of the emissions allowances go too high. The cost of the RGGI emission allowances has the potential to skyrocket as demand for electricity increases, causing severe electric-rate increases.
The rule should also allow new generators to operate outside the RGGI framework initially. New generation needs to be added to the region, but RGGI does not provide for increased allowances to accommodate them. Finally, the RGGI rule does not address the issue of “leakage,” where New Jersey customers purchase electricity from utilities in non-RGGI states. Under New Jersey's deregulated electricity markets, many customers will be able to buy electricity at lower rates from utilities in Pennsylvania, which is not participating in RGGI. This would make generators in RGGI states like New Jersey less competitive. New Jersey is especially vulnerable to leakage because it is part of the PJM power grid shared by Pennsylvania. For more information, contact Sara Bluhm at ext. 204.
Making Sense of Family and Disability Leave, Wednesday, June 7—This program will help employers sort through bewildering levels of leave regulations and show them how to avoid costly mistakes regarding length of leave, job protection, benefits and discrimination issues. Top employment law specialists will explain how to avoid the many legal pitfalls and will share the lessons they have learned from years of struggling with leave requests. The seminar will be held at the Holiday Inn in Hazlet (just 2 miles off Exit 117 of the Garden State Parkway) from 8:30 a.m. to 12:30 p.m. The cost is $109 per person for NJBIA members and $139 for nonmembers. To register, contact Alex Hollywood at 609-393-7707, ext. 262, or register online.
Navigating New Jersey's Pay-to-Play Laws, Friday, June 23—Since January 1, doing business with State, county and local governments has become much more challenging due to complicated new rules on campaign contributions by government contractors and vendors that can prevent you from getting or keeping government contracts. At this seminar, the government officials in charge of enforcement will explain what contractors and vendors need to know about the new laws.
You will also get practical advice from local and county government officials and vendors who are already dealing with the new laws. If you have a government contract of any kind or are looking to do business with government, register now and find out what you need to do to protect your business. This event will be held at the Hilton East Brunswick (right off Exit 9 of the NJ Turnpike) from 8:30 a.m. until noon. The cost is $109 per person for NJBIA members and $139 for nonmembers. To register, please contact Sherry Esteves at 609-393-7707, ext. 219, or register online.
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