Thanks Mark, for the great news about the attempt to negotiate, and not mandate, price reductions for Rx meds! We need a balanced approach that provides Big Pharma with the resources to innovate and distribute, while at the same time endeavor to provide affordable pricing to millions who would otherwise not be able to afford.
Medicare and Medicare Advantage enrollees will pay for the changes in what they pay for prescription drugs when insurers raise their premiums and cut benefits for Medicare Advantage to cover the cost of the new MA and Medicare regulations.
Further, longer term, because the laws that allow Medicare to impose prices on makers of new and orphan drugs, fewer startups that normally would be created to develop new drugs will be funded by venture capitalists and other investors in their stocks.
Already, major pharmaceutical companies are cutting their capital expenditures and will be reducing their marketing and education budgets. That means fewer very sick people and their physicians will learn about newer and better drugs and benefit from them.
Price controls always have consequences that are not good for consumers, employers, workers or patients. We learned that during Nixon's price controls back in the early and mid 1970s. And we've learned that since Democrats and Reagan passed the 1983 price controls that have distorted health care markets ever since at the expense of patients.
Medicare needs major reforms. Medicare Advantage is being sold to save the government money by reducing access to the best car when seniors become very sick. Some reforms are being debated and enacted, but many more are needed.
The best reform would be to scrap Medicare Advantage because politicians and insurers are abusing seniors in their misleading promises that have caused more than half of Medicare beneficiaries to signup for it.
If you are in Medicare Advantage, you have less than 60 days to change insurers or to go back to regular Medicare. Do it Now.
Thanks Mark, for the great news about the attempt to negotiate, and not mandate, price reductions for Rx meds! We need a balanced approach that provides Big Pharma with the resources to innovate and distribute, while at the same time endeavor to provide affordable pricing to millions who would otherwise not be able to afford.
Medicare and Medicare Advantage enrollees will pay for the changes in what they pay for prescription drugs when insurers raise their premiums and cut benefits for Medicare Advantage to cover the cost of the new MA and Medicare regulations.
Further, longer term, because the laws that allow Medicare to impose prices on makers of new and orphan drugs, fewer startups that normally would be created to develop new drugs will be funded by venture capitalists and other investors in their stocks.
Already, major pharmaceutical companies are cutting their capital expenditures and will be reducing their marketing and education budgets. That means fewer very sick people and their physicians will learn about newer and better drugs and benefit from them.
Price controls always have consequences that are not good for consumers, employers, workers or patients. We learned that during Nixon's price controls back in the early and mid 1970s. And we've learned that since Democrats and Reagan passed the 1983 price controls that have distorted health care markets ever since at the expense of patients.
Medicare needs major reforms. Medicare Advantage is being sold to save the government money by reducing access to the best car when seniors become very sick. Some reforms are being debated and enacted, but many more are needed.
The best reform would be to scrap Medicare Advantage because politicians and insurers are abusing seniors in their misleading promises that have caused more than half of Medicare beneficiaries to signup for it.
If you are in Medicare Advantage, you have less than 60 days to change insurers or to go back to regular Medicare. Do it Now.
Thanks for this very helpful information.
I really enjoy your column .Thank you for writing it.