HealthCare Institute of New Jersey statement on Governor Sherrill’s budget address PBM remarks

Trenton, March 10, 2026 ― Chrissy Buteas, President and Chief Executive Officer of the HealthCare Institute of New Jersey (HINJ – www.hinj.org), released the following statement concerning Governor Mikie Sherrill’s budget address remarks on pharmacy benefit manager reforms:

“Common-sense PBM reform is one of the most effective and immediate ways to lower healthcare costs, and we commend Governor Sherrill for her continued focus on New Jersey patients and affordability.  From her Congressional tenure to her campaign proposals, the Governor has advocated for PBM reform as a thoughtful and balanced approach to lowering costs, and she’s working with a true sense of urgency to deliver real savings for patients.”

Buteas continued, “Less than half of the money spent on prescription medicines actually goes to the company that makes the medicine – the rest goes to middlemen within the supply chain, like insurers and PBMs.  Whether enforcing current or enacting new legislation and regulations, bringing more transparency and reducing profiteering incentives within the PBM structures will bring real and immediate relief to patients.  We will work with the Governor and the Legislature to enact these proposals as quickly as possible.”

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