Biden Health Care Plan...interesting bullet point.

[McDad]

Lol.

You will also believe if told that something should reduce costs but actually wont is a good idea too.

Word of advice, dont let the government tell you what is good.

I don't understand your point. Can you explain (with or without brevity is fine)?

 

[McDad]

Cost Of Insulin by Country 2020

Any idea if insulin is subsidized in those countries by the government though?

 

[hog88]

Manufacturing does not equal selling. Opening up the marketplace will drive down cost. Let me know why that’s a bad idea.

I don't know that it is a bad idea, I just don't see how it it will change anything. Will the manufactures all of a sudden start selling it to us cheaper than they do now (and yes manufacturing equals selling)?

 

[hog88]

I think this idea could really be a game changer to those people with chronic condition only managed with life long meds. I've heard insulin in america is obscenely expensive compared to other countries. But I don't know if that is due to other countries subsidizing or not. Do you know?

8 Reasons Why Insulin is so Outrageously Expensive

 

[McDad]

I don't know that it is a bad idea, I just don't see how it it will change anything. Will the manufactures all of a sudden start selling it to us cheaper than they do now (and yes manufacturing equals selling)?

You don't by from the manufacturer. You buy from the retailer. Retail prices are cheaper in other countries.

The concept of opening up our closed market for consumers to buy meds sold in other countries is sound. Whether or not it will work as it should remains to be seen...and we should be very skeptical because this is a politician's plan.

 

[n_huffhines]

I read through the Joe's plan. Like all politicians, a lot of blaming others, platitudes, lofty goals, and not a lot of specifics. I posted a link if you wanna check it out.
Plan to Protect and Build on Obamacare | Joe Biden

This nugget posted below stuck out to me. I think this is a great idea. We can buy other drugs like liquor, cigarettes, caffeinated items from other countries. Why not prescription drugs? Some who live close the border already go out of country to buy medication. My son in law's mother did this when we were on our cruise last year. This is an idea which uses open markets and competition to empower consumers to search out the products they want at the best price they can find.

• Allowing consumers to buy prescription drugs from other countries. To create more competition for U.S. drug corporations, Biden will allow consumers to import prescription drugs from other countries, as long as the U.S. Department of Health and Human Services has certified that those drugs are safe.

Thoughts?

The odds of that passing do not seem likely. Big pharma is too powerful. That being said, it's hard to believe that we haven't gone too far with our protection of their profits and incentives, so I think this would actually be a good thing, but I can't be sure. This is addressing only one part of the problem. It's not just about big pharma gouging us, which is happening. It's about compliance costs of getting to market, too.

 

[n_huffhines]

My biggest concern with buying “mail order” from a foreign country is quality. I can buy a Rolex, Michael Kors, and 200G memory sticks for a lot less off eBay. Based on the fentanyl ODs blamed on China, I might just give something up for my drugs to be US certified

Freedom isn't free.

 

[McDad]

8 Reasons Why Insulin is so Outrageously Expensive

The prices in that article are not applied globally.

 

[hog88]

You can't legally buy outside the US, can you?

I don't know but from what I understand is most of the countries with socialized healthcare subsidize medications so when you go to Canada to buy medications you get the subsidized price. If that is the case how long do you think these countries will allow us to by medication on their dime?

 

[OHvol40]

Any idea if insulin is subsidized in those countries by the government though?

I know other countries get it cheaper at price-per-unit. Comparing it to universal systems, if they all pay the same price in taxes for health care coverage then the cost is built in. Here, we pay our premiums, deductibles, out-of-pocket costs and then if you require insulin that is another huge out-of-pocket expense not built into the price of healthcare coverage. Not to mention medications are marked up. I would have to do some research to see how much the mark-up in the US is, but marketplace exclusivity certainly allows for price gouging in this sector.

 

[MontyPython]

I read through the Joe's plan. Like all politicians, a lot of blaming others, platitudes, lofty goals, and not a lot of specifics. I posted a link if you wanna check it out.
Plan to Protect and Build on Obamacare | Joe Biden

This nugget posted below stuck out to me. I think this is a great idea. We can buy other drugs like liquor, cigarettes, caffeinated items from other countries. Why not prescription drugs? Some who live close the border already go out of country to buy medication. My son in law's mother did this when we were on our cruise last year. This is an idea which uses open markets and competition to empower consumers to search out the products they want at the best price they can find.

• Allowing consumers to buy prescription drugs from other countries. To create more competition for U.S. drug corporations, Biden will allow consumers to import prescription drugs from other countries, as long as the U.S. Department of Health and Human Services has certified that those drugs are safe.

Thoughts?

This has been going on for years in a black market w/mostly Canadian drugs. Breaking up American monopolies makes sense. Competition is good.

 

[McDad]

I don't know but from what I understand is most of the countries with socialized healthcare subsidize medications so when you go to Canada to buy medications you get the subsidized price. If that is the case how long do you think these countries will allow us to by medication on their dime?

Great point. I asked OH about that, too. If it is subsidized, then adoption of this plan will not change anything. It will be an empty gesture. As you offer, no country in the world is going to subsidize their medicine for Americans to buy it in person or through the mail. So, we are allowed by our country and will be prohibited by the other countries.

 

[McDad]

This has been going on for years in a black market w/mostly Canadian drugs. Breaking up American monopolies makes sense. Competition is good.

People buy across the southern border, too.

 

[hog88]

You don't by from the manufacturer. You buy from the retailer. Retail prices are cheaper in other countries.

The concept of opening up our closed market for consumers to buy meds sold in other countries is sound. Whether or not it will work as it should remains to be seen...and we should be very skeptical because this is a politician's plan.

Here is a good article you should read. It explains some of why drugs are cheaper in other countries.

US drug prices higher than in the rest of the world, here's why

 

[hog88]

Great point. I asked OH about that, too. If it is subsidized, then adoption of this plan will not change anything. It will be an empty gesture. As you offer, no country in the world is going to subsidize their medicine for Americans to buy it in person or through the mail. So, we are allowed by our country and will be prohibited by the other countries.

If you read the link I posted you will see that I was wrong, it is us that subsidizes the price of drugs in other countries so I don't see how this will change anything.

 

[McDad]

Here is a good article you should read. It explains some of why drugs are cheaper in other countries.

US drug prices higher than in the rest of the world, here's why

That's a good opinion piece. And that doctor may be right. I don't think prices in other countries would rise to the cost Americans pay. The cost will be in global equilibrium (or close to it). Of course, I am assuming it will truly be an open marketplace.

 

[McDad]

If you read the link I posted you will see that I was wrong, it is us that subsidizes the price of drugs in other countries so I don't see how this will change anything.

I replied

 

[1972 Grad]

Freedom isn't free.

Freedom's just another word for nothin' left to lose.
Nothin' , it ain't nothin' honey, if it ain't free.

 

[hog88]

That's a good opinion piece. And that doctor may be right. I don't think prices in other countries would rise to the cost Americans pay. The cost will be in global equilibrium (or close to it). Of course, I am assuming it will truly be an open marketplace.

Here's a couple more that support his opinion.

Why the U.S. Pays More Than Other Countries for Drugs

People In The US Are Footing The Bill For Switzerland's Medical Care

 

[OHvol40]

It’s important to remember that the primary motivation behind most of our healthcare system in the US is to part the citizens from their money.

 

[McDad]

Here's a couple more that support his opinion.

Why the U.S. Pays More Than Other Countries for Drugs

People In The US Are Footing The Bill For Switzerland's Medical Care

The idea should be adopted on the principle alone. Open markets are better markets.

 

[hog88]

The idea should be adopted on the principle alone. Open markets are better markets.

I'm not saying the plan won't work, I just don't see how it will.

 

[McDad]

I'm not saying the plan won't work, I just don't see how it will.

Similar boat. I think it will work because economic principles will be applied. The only concern is the political games which could jack with those principles.

I agree with something in the Biden plan, though.

 

[LouderVol]

I don't understand your point. Can you explain (with or without brevity is fine)?

ACA. sold as the wonder bill that was going to fix healthcare. Yet all it did was raise prices.

Most government "fixes" arent the fixes they are sold to be. Look at Covid, best thing the government did was get out of the way.

 

[hog88]

Similar boat. I think it will work because economic principles will be applied. The only concern is the political games which could jack with those principles.

I agree with something in the Biden plan, though.

My concern is future R&D and access to new medications. Without boat loads of money to be made how much will R&D and manufacture of high production cost drugs be curtailed ?