States Taking Measures to Lower Prescription Costs

Finance Health

Let me start by asking you 2 simple questions:

1- Do you take at least 1 prescription medication?

2- Do you believe that the cost of prescription medications are out of control?

The Kaiser Family Foundation asked a number of Americans how many take at least 1 prescription medication and they learned that 59% of the people who responded said they were taking at least 1 prescription medication. That 59% was further broken down, indicating that only 11% took just 1 prescription drug, 12% take 2, 8% take 3 and 27% indicated they take 4 prescription drugs. How do you fit into these groups?

When the Kaiser Family Foundation asked the second question about the cost of prescription drugs, they got mixed responses, where 79% say the costs were unreasonable and yet among those taking prescription drugs, 74% say that it is easy to afford them. Their report further revealed that of those taking 4 or more prescription medications that 35% said it is difficult to afford them.

I suspect that most them have insurance that helps pay for their medications and that many of their medications are common and/or generic ones.

The cost of prescription medications has been in the news for a number years. Ironically, what the news will NOT tell you is that the largest skyrocketing cost of many prescription drugs, such as Epi-Pens and insulin, took place under the Democrats’ Affordable Care Act.

The issue of drug costs was further escalated when the cocky owner of the company making Epi-Pens announced that the cost had jumped to $600 per Epi-Pen simply because he could get that price. The public response was so strong that he was forced to reduce the cost, but not nearly as much as many thought he should.

Even though President Donald Trump has revealed his plan to make medical costs more transparent, several states have already taken measures to control the high cost of prescription drugs, as reported:

Utah

A Utah program was created under a 2018 state law dubbed “right to shop,” by Republican Rep. Norm Thurston. The Public Employees Health Program offered it only for people using a drug on a list of about a dozen medications where the state could get significant savings. Of the 160,000 state and local public employees covered by the insurer, fewer than 400 were eligible, according to Managing Director Chet Loftis…

The program appeared to be the first of its kind, and has been a dramatic example of steps that states were taking to alleviate the high cost of prescription drugs…

California

Newsom, a Democrat, said the plan would increase competition in the generic drug marketplace and lower the cost of medications to its nearly 40 million residents by having Sacramento contract drug makers to manufacture certain prescriptions under a state label…

California law has required drug companies to report any price increases to the state. Generic drugs saw a three-year median increase of 37.6 percent, according to a report from the Office of Statewide Health Planning and Development. That analysis was based on the list prices of the drugs and did not include discounts or rebates…

Louisiana

Louisiana has used a Netflix-style program for hepatitis C drugs, in which the state negotiated a deal to pay a flat fee rather than for each prescription.

Beginning last July, the state began a “subscription model” treatment model that officials said could cure tens of thousands who had the infectious, liver-damaging disease…

Here’s the political paradoxical problem with the high cost of prescription drugs

America’s wealth and prosperity was built upon our system of capitalism and free enterprise. It’s the same system that has given our nation one of the highest standards of living in the world. It has resulted in the creation of millions of jobs and helped put people in homes with at least one car in their garage or driveway.

On the flip side, it is this very capitalistic and free enterprise system that has allowed the costs of many prescription drugs and healthcare in general. This is being used by the socialist Democrats to help push their socialist agenda driven by their promise of free healthcare for all. Democrats want to replace the free enterprise market with a national socialist program run by a corrupt and greedy socialist government where only the elite will prosper while the majority of Americans will be enslaved by them to pay for all of their luxuries and perks.

So, what is the solution to the problem of the costs of prescription drugs and healthcare in general? I’m not sure there is a viable solution, but I do know that the solution being offered by Democrats is or has failed in Canada, United Kingdom and Venezuela.

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