I am a paid subscriber, by the skin of my teeth. Why is that? Because I experienced medical bankruptcy. That MEANS losing ALL my assets - home & neighborhood, 2 pension funds (I worked HARD for those pensions, many treasured antiques, and lastly my car - ALL TO PAY MEDICAL BILLS. I survived - lucky for my family or THEY would still be paying. The endpoint was an organ transplant - you know how expensive THAT is? But without it, I would have died. Someone else died so I could live. This took place over about 15 years. I lost my home early in that journey. I’m a fighter - a lot of other people don’t have that kind of drive and fury to make it to that transplant. So now I’m poor AF and do know that 2/3 of all US bankruptcies are due to medical expenses. WHAT IN THE HELL IS WRONG WITH THIS COUNTRY? My friends in the EU sure wonder.
Great piece Wendell. It highlights IMHO how these companies have become too big and diversified to simply be put out of business under Medicare for All. As you said, their businesses have changed dramatically over the past 10 years. I'm quite sure we'd wind up with "Medicare Advantage For All" and that's what they're positioning themselves for.
The role of PBMs in the rising cost of healthcare is finally becoming understood by many Americans. It confirms my suspicions since I first heard the term a decade ago. In 2022, the Kroger corporation decided to no longer do business with ExpressScripts, my PBM. All my prescriptions were handled by this PBM through pharmacies in Kroger's Fred Meyer stores, located here in the Pacific NW. I've attempted to determine who is the more evil culprit in this clusterfart, and my money's on the PBM for demanding higher fees than its competitors. I wouldn't bet any of that money on Congress doing a damn thing about PBMs anytime soon.
I am a paid subscriber, by the skin of my teeth. Why is that? Because I experienced medical bankruptcy. That MEANS losing ALL my assets - home & neighborhood, 2 pension funds (I worked HARD for those pensions, many treasured antiques, and lastly my car - ALL TO PAY MEDICAL BILLS. I survived - lucky for my family or THEY would still be paying. The endpoint was an organ transplant - you know how expensive THAT is? But without it, I would have died. Someone else died so I could live. This took place over about 15 years. I lost my home early in that journey. I’m a fighter - a lot of other people don’t have that kind of drive and fury to make it to that transplant. So now I’m poor AF and do know that 2/3 of all US bankruptcies are due to medical expenses. WHAT IN THE HELL IS WRONG WITH THIS COUNTRY? My friends in the EU sure wonder.
Great piece Wendell. It highlights IMHO how these companies have become too big and diversified to simply be put out of business under Medicare for All. As you said, their businesses have changed dramatically over the past 10 years. I'm quite sure we'd wind up with "Medicare Advantage For All" and that's what they're positioning themselves for.
The role of PBMs in the rising cost of healthcare is finally becoming understood by many Americans. It confirms my suspicions since I first heard the term a decade ago. In 2022, the Kroger corporation decided to no longer do business with ExpressScripts, my PBM. All my prescriptions were handled by this PBM through pharmacies in Kroger's Fred Meyer stores, located here in the Pacific NW. I've attempted to determine who is the more evil culprit in this clusterfart, and my money's on the PBM for demanding higher fees than its competitors. I wouldn't bet any of that money on Congress doing a damn thing about PBMs anytime soon.