As a small business owner in Provo, I’ve witnessed the incredible synergy between technological innovation and our state’s flourishing business landscape. However, there’s a pressing issue that threatens this growth and requires immediate attention — the critical need to safeguard pharmacy benefits for both employers and their employees. This matter not only impacts the health and well-being of our workforce but also significantly influences the competitive edge and sustainability of our businesses.

Nearly 60% of our state’s population relies on their employer for health insurance coverage, underscoring the immense responsibility employers carry in ensuring the health and wellness of their workforce. For a startup, there’s a lot of uncertainty our employees have to grapple with, but health care coverage shouldn’t be one of them. The accessibility and affordability of pharmacy benefits directly influence the health and productivity of employees, which subsequently impacts a company’s ability to grow and succeed. Employers who provide comprehensive health benefits, including robust pharmacy coverage, often attract and retain top talent while fostering a healthy, engaged and more productive workforce.

Utah’s legislators are currently at a crossroads where policy decisions regarding pharmacy benefits have far-reaching implications for the health and stability of our communities. The recent circulation of “delinking” policies on pharmacy benefit companies at the federal level threatens to eliminate market-based incentives for these entities to secure higher rebates. This will ultimately strip away the flexibility and options employers, such as myself, need when it comes to providing prescription drug benefits to our staff.

Economist, senior fellow at the American Enterprise Instituteand CEO of Matrix Global Advisors Alex Brill examined what this would cost those who get their coverage from the commercial market. He estimates that it could increase premiums up to $26 billion annually, while providing drug manufacturers with an estimated financial windfall up to $21.9 billion. The health coverage I offer my employees will be impacted, increasing health care costs for my employees, as well as any Utahn getting their coverage from their employer.

Another analysis from University of Chicago professor Casey Mulligan, Ph.D., looking into the Medicare Part D, found that “delinking” pharmacy benefit companies in this federal program would cost patients and payers up to $18 billion every year and give Big Pharma a $10 billion bailout.

Unsurprisingly, big pharmaceutical companies are some of the biggest proponents for these bills — who stand to gain more than $32 billion we’d have to ultimately pay the price for — and are encouraging lawmakers to ban the very incentives that help drive down health care costs for consumers. These companies would rather continue to line their own pockets than ensure employers and other health plan sponsors can provide quality, affordable coverage to their employees so everyone can afford the medications they need to stay healthy.

Let’s not overlook the basic principles of economics; higher rebates secured through incentivizing pharmacy benefit companies directly translate to savings and flexibility for us as business owners, enabling us to offer more comprehensive coverage and benefits to our employees. These performance-based incentives are not unique to pharmacy benefit companies; they’re prevalent across the entire health care sector. They ensure cost savings, which are often passed directly onto health plan sponsors like us. In fact, a whopping 91% of rebates in the commercial market directly benefit health plan sponsors, which in turn helps employees save on health care costs.

Now is the time for the Utah congressional delegation, elected to represent our interests, to stand with the business community. Rejecting these shortsighted policies is pivotal in safeguarding the savings and flexibility vital for sustaining the coverage and support that our hardworking employees deserve. Instead, our representatives should be advancing policies that encourage healthy competition so we can create a more stable, affordable and accessible health care system in Utah. The success and vitality of our businesses, the well-being of our employees and the overall health of our state’s residents depend on it.

Derek Swanson is a small business owner in Provo.

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