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As I understand it the price of insulin has been skyrocting.
The bill caps a consumer’s co-pay to the lesser of $35/month or 25% of the insurer’s negotiated price.
The House vote was 232-193 with some Republicans claiming to be opposed to socialist price controls.
While the bill does not impact Pharma, it does seek to lower consumer cost. Would not capping how much Pharma could charge be a socialist price control?
What am I missing here?
Wonder how the Senate vote will go. Will it be necessary to tack on some pork for Alaskan fisheries to get enough votes?
As I understand it the price of insulin has been skyrocting.
The bill caps a consumer’s co-pay to the lesser of $35/month or 25% of the insurer’s negotiated price.
The House vote was 232-193 with some Republicans claiming to be opposed to socialist price controls.
.
The price of insulin varies as the price of its ingredients change, just like any other drug or non-medical product.
Everyone's insurance premiums will likely go up to compensate, should this bill become law. One way or another, someone's going to foot the bill for the excess cost.
The price of insulin varies as the price of its ingredients change, just like any other drug or non-medical product.
Everyone's insurance premiums will likely go up to compensate, should this bill become law. One way or another, someone's going to foot the bill for the excess cost.
Either that or some will quit the production of insulin if they can't charge what they want.
lol... I am proud of the 12 GOP Representatives that stood up to the insurance industry.
How did they stand up to the insurance industry?
They apparently didn't cap the cost the manufacturers could charge, but they capped how much the insurance company could charge. If the insurance company ends up paying more they will just pass that cost onto their customers.
Then what about other Drugs and plans? There are many plans that have $40-$50 Prescription Co-Pays. This bill covered one drug, what about the costs of the other drugs to patients?
Government protected monopoly rackets paid for by three specific pharma manufacturers are why insulin prices tripled in the last 10-12 years, and now government seeks to further entrench that monopoly and shift some cost around so consumers think they get a deal, while raising insurance and pharma prices across the board to compensate.
And all they had to do was lift two regulatory barriers to competition to introduce more manufacture into what is essentially a guaranteed revenue stream. But Novo Nordisk, Sanofi-Aventis, and Eli Lilly pay very, very well to not let that ever happen.
The price of insulin varies as the price of its ingredients change, just like any other drug or non-medical product.
Everyone's insurance premiums will likely go up to compensate, should this bill become law. One way or another, someone's going to foot the bill for the excess cost.
That's how insurance works. Spread the risk and cost across a large group of people.
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