Jan 18, 201812:04 PMOpen Mic
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What President Trump must do
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President Trump and Congress must end the pharmaceutical robbing of America. Every day Pfizer, Johnson & Johnson, Roche, Novartis, Merck, Sanofi, and others are driving America’s indebtedness toward another trillion dollars in drug money debt.
Americans obviously need drugs. I’m talking about the legal kind. These are the medicines, pills, injections, drips, and liquids dispensed to you at your local drug store such as CVS, Walgreens, Walmart and your small town, independent pharmacist. Of course, there is the mega number of other drugs that you may receive if admitted to the hospital. Those are never reasonable.
President George W. Bush, trying everything under the sun to be reelected in 2003, set up a deal with Congress to enact Medicare Part D, which covers the cost of prescriptions, known as the Medicare Modernization Act. The federal government was barred from negotiating cheaper prices for such medicines. Why would the government actually pass a law saying that you can’t negotiate drug prices? Simple answer —the drug company lobbyists have funneled about $2 billion into the nation’s capital since the beginning of 2003. In just 2015 and 2016 alone, drug companies spent the equivalent of over $500,000 per member of congress. Congressmen and Congresswomen care most about being reelected.
A paper released by Harvard Medical School researchers cited the size of the Medicare Part D program and its lack of government negotiating clout as among the reasons why Americans pay the highest prices in the world for prescription drugs. A co-author of that paper, Ameet Sarpatwari, estimates that Part D accounts for nearly 30% of the nation’s spending on prescription drugs.
Unbelievable as well, Part D pays far more for drugs than do Medicaid or the Veterans Health Administration. Both of these mandate government measures to hold down prices. Reports cite Medicare Part D pays between 70–80% more than Medicaid and VHA. Why has this continued? Rep. John Boehner of Ohio, who recently retired, received over $1.3 million between 2003 and 2016 to his election committee and leadership PAC. Sen. Orin Hatch of Utah has received over $1.1 million, Sen. Mitch McConnell of Kentucky $995,350, Rep. James E. Clyburn of South Carolina $834,508, and Rep. Frank Pallone Jr. of New Jersey $731,078. This is only a few of them who have rolled in the drug cash.
Sixty-five-year-old Americans and up can elect to have Part D, which is a no brainer if you need prescriptions, something most senior Americans need. The average cost of Medicare Part D prescription drug coverage in 2016 was $41.46 per month. To senior adults on fixed incomes any additional expense is an expense. However, the cost of Part D is cheap in comparison to what a trip to the drug store can cost. A hospital stay requiring an expensive treatment can push a medical bill up by thousands. In this day and time it only takes a couple of nights in the hospital to rack up a $25,000 hospital bill or much more.