31–40 of 86 posts
Note: this is less than one half of one percent of total Medicare spending.
A billion here, a billion there, soon you're talking real money
Earlier quoted context omitted.
A billion here, a billion there, soon you're talking real money
3.6b ($) / 258m (adults) = $14 in taxes per adult in the US, per year.
Edit: Wait, these are payroll taxes. There’s no real benefit to the rich because the taxes are capped. Which is why it’s not worth it to do anything about it, as no plutocrats will get significantly more than the masses.
Not just generics. Ever get a coupon from a drug manufacturer that drops your copay from hundreds of dollars to $10 or $20? Ever wonder why? It’s because Medicare gets an automatic discount (I think 20% these days but I’m no longer in the biz) from the manufacturer’s official price. So they simply set the official price at some huge figure and rake in huge bucks from the largest buyer, Medicare. Then they negotiate w…
You can’t use co-pay cards with publicly funded insurers like Medicare and Medicaid. It’s regarded as “inducement”.
https://www.npr.org/sections/health-shots/2018/05/09/6091508...
Only private insurers can accept co-pay cards.
Not just generics. Ever get a coupon from a drug manufacturer that drops your copay from hundreds of dollars to $10 or $20? Ever wonder why? It’s because Medicare gets an automatic discount (I think 20% these days but I’m no longer in the biz) from the manufacturer’s official price. So they simply set the official price at some huge figure and rake in huge bucks from the largest buyer, Medicare. Then they negotiate w…
This is utterly wrong. First of all, Medicare Part D covers pharmacy benefits. Part D is supplemental insurance purchased by seniors from a private insurance company. If you are too poor, I think you go on Medicaid. Also, Medicare Part D plans DO pay less than commercial plans.
This study is probably complete B.S. because no one knows how much is paid in drug rebates. Manufacturers pay the insurance companies (including Medicare) huge amounts of money (back) for prescription drug utilization coming from their members. In short, it's a legal kick-back. And I'm not kidding, it's a huge amount of money (like 20% - 30% of the reimbursement price)
U.S. drug pricing is broken for many reasons, and sorry to call you out, but nothing that you said is true. Everybody gets ripped off by big pharma, not just the government.
Note: this is less than one half of one percent of total Medicare spending.
After that more companies enter the market and prices drop. When Lipitor went generic, the first one was ~30% discount. Now it’s a 95% discount.
If this study just took average spending in the past then compared it to prices today that’s apples and oranges.
Earlier quoted context omitted.
It’s by design. The republican position was that allowing Medicare to negotiate drug prices would amount to price controls. They also forbade the using of Federal funds to reimport drugs from countries like Canada who negotiate prices. It’s a specious argument with predictable outcomes that were in fact predicted and widely discussed at the time the legislation was enacted.
Part D plans are privately administered by companies that are supposed to compete with each other. The prices aren't just whatever the drug companies want.
I love how accurate posts on HN get aggressively downvoted off they go against the narrative.
Earlier quoted context omitted.
A billion here, a billion there, soon you're talking real money
3.6b ($) / 258m (adults) = $14 in taxes per adult in the US, per year.
This is comparing to generic drugs from one specific company, based on the notion that the specific company is capable of providing a cheaper generic drug in a situation most favorable to the drug maker (a bulk purchase). It doesn’t actually go into if the generic will actually be a suitable replacement for each patient. For people with complex health needs, like the over 65+ folks on Medicare, it makes total sense t…
Not just generics. Ever get a coupon from a drug manufacturer that drops your copay from hundreds of dollars to $10 or $20? Ever wonder why? It’s because Medicare gets an automatic discount (I think 20% these days but I’m no longer in the biz) from the manufacturer’s official price. So they simply set the official price at some huge figure and rake in huge bucks from the largest buyer, Medicare. Then they negotiate w…
Non-Medicare federal spending often requires you sign a contract that the government gets the best price you give anyone. Blue Cross negotiates a better rate next month? Medicare automatically uses that one instead.