Shocker. Congress doing something that doesn’t work well or as intended. Just wait until the $2,000 out-of-pocket spending limit kicks in next year for Medicare. Then we’re in for some super fun unintended consequences.
PBMs drastically inflate prices and create programs to line their own pockets, some even working with shady businesses who aren’t transparent with how their formulary’s are decided leaving patients with essentially less coverage than advertised.
I think that our side of these issues needs to consistently use emotionally impactful language. My favorite term for this is PRICE-GOUGING. When a company charges a hundred times the cost of a product (Gleevec), there is no better word for what they are doing than price-gouging. [Profiteering comes in second - technically accurate but without the same emotional punch as being "gouged." ]
Indeed. It"s unfortunate that we pharmacists get our heads torn off at the counter because Big Pharma and PBM's can charge whatever they want because nobody is stopping them. The legislation passed by Congress to "lower drug prices for seniors" is so limited and weak that it's laughable.
I would like them to also take a look at the outrageous prescription plan penalty that seniors are being charged if they did not have a drug plan from day 1 going on Medicare. My few meds cost me less than $170 a year, yet if I signed up for a drug plan, even one without a premium, I will be penalized and charged around $35 a month for the rest of my life. And you can't check to see if the penalty will apply to you - you can't ask about it and then change your mind about signing up for a plan. They want to squeeze every last dime out of seniors and then set us by the curb to die.
Shocker. Congress doing something that doesn’t work well or as intended. Just wait until the $2,000 out-of-pocket spending limit kicks in next year for Medicare. Then we’re in for some super fun unintended consequences.
PBMs drastically inflate prices and create programs to line their own pockets, some even working with shady businesses who aren’t transparent with how their formulary’s are decided leaving patients with essentially less coverage than advertised.
I think that our side of these issues needs to consistently use emotionally impactful language. My favorite term for this is PRICE-GOUGING. When a company charges a hundred times the cost of a product (Gleevec), there is no better word for what they are doing than price-gouging. [Profiteering comes in second - technically accurate but without the same emotional punch as being "gouged." ]
All of this is so complicated, it's designed to make us get confused and give up. What Can consumers do on a large scale to fight back?
PBMs keep the money for themselves they are not paying pharmacies cost. I hate when people yell at me cause their insurance isn't paying
Indeed. It"s unfortunate that we pharmacists get our heads torn off at the counter because Big Pharma and PBM's can charge whatever they want because nobody is stopping them. The legislation passed by Congress to "lower drug prices for seniors" is so limited and weak that it's laughable.
I would like them to also take a look at the outrageous prescription plan penalty that seniors are being charged if they did not have a drug plan from day 1 going on Medicare. My few meds cost me less than $170 a year, yet if I signed up for a drug plan, even one without a premium, I will be penalized and charged around $35 a month for the rest of my life. And you can't check to see if the penalty will apply to you - you can't ask about it and then change your mind about signing up for a plan. They want to squeeze every last dime out of seniors and then set us by the curb to die.