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OT Generic drug costs

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You owe it to yourself, your family and your friends to watch the segment on drug cost on TV, PBS News Hour, aired last night.

Same generic cancer drug highest price of $455 at Target....then many different prices elsewhere...down to a lowest price of $11.04 at Costco.

Helps explain why healthcare costs so much in America with a 10,000% retail markup on cancer drugs. Seems unethical to me.



Just Google PBS Newshour...the go to the site and look for the segment from December 23, 2013
titled "Generic drugs don't necessarily mean low prices". you can watch it on your computer.


I know...you have a Medicare drug plan..me too...but not all your friends, or family quailify for medicare. Learn how to shop for the best price.
 
I sold Medicare Part C insurance plans and prescription drug plans a couple of years ago...and you'd be surprised--or maybe you wouldn't--at just how many folks on Medicare hit the "donut hole," or coverage gap, in the prescription drug plan. Some with chronic illnesses reached the "donut hole" in the first quarter of the year...and the out-of-pocket costs could be HUGE.

So say what you will about external_linkcare...but if it eventually eliminates the "donut hole," that will be a blessing to a LOT of older folks.
 
...and the economic death knell for the middle class who have to pay for those "donuts" and the trillions in administrative cost that goes along with 'em.
 
Well,as a member of the "middle class",the jury is still out for me. I'll let you know when my premium notice comes whether or not external_link is my new best friend. I signed up on healthcare.gov Friday for a Blue Cross Prefered Silver PPO. If I had bought that policy anywhere else,say directly from Blue Cross Blue Shield of Michigan,or Farm Bureau,the premium would have been $878 a month. There's no way in the world I could have paid that,but by buying it through the website,my premium is supposed to be $92.32 a month.
I called BCBSM right after I signed up to see how they wanted me to pay the first premium. They said they'd send me a paper premium notice this week. They said as long as I pay it by the 28th,the insurance will kick in on the 31st. We'll see.
 
The donut hole was supposed to be eliminated in 2014. Buried in the external_linkcare Act. Apparently it is not going to happen.
 
I just went through some of that. Generic Caduet at one place, $171. 2 miles away, $11.
How is that kind of differential possible? The same generic drug is 15.5 times more from retailer to another?
 
That is the result. The problem is the cost. If new trucks cost $400,000 no one could afford one.
If steak was $80/lb. Only a few would buy it.

An aspirin $38?, a walk down the hall with a therapist $800?, a room $4000/day? Drug mark up 10,000%?

It does not matter if it is the indiviual, his employer, or the government ...few can afford healthcare...the price is making America a second class nation.

When healthcare costs 9% of GDP in Germany, and 18% of GDP in America, everything we produce is at a 9% disadvantage. In a world economy, that is what is putting the American middle class behind the 8 ball.
 
I hit the donut hole in October and so far this year have only paid out of pocket $600.00. Once you hit the donut hole you have to pay out $4,129.52 in out of pocket costs and then you move into stage 4, Catastrophic coverage in which most of you drugs are paid for.
 
I am going to buy my generic drugs from Canada.
Northwest Pharmacy in British Columbia is my favorite. The prices are very reasonable for generics. Many brand name drugs do not have patent protection outside the United States and are available as generics. Brand name prices are not so good.
As far as quality, they are tightly regulated and had just a few drug recalls. If you look on the FDA.gov website sometimes there are a few drug recalls everyday.
The drug industry is a world trade. The consolidation that has been occuring for the last 30 years is putting more power and control outside of the USA.
If you ever go behind the counter in a pharmacy, and look at the bottles you would think your visiting the United Nations.
As a country we have 5% of the world's population, but we pay 80 percent of the drug bill. When 1/2 to 2/3 of world's popuation earn $2/day, how many prescriptions can they buy.
One last note; avoid any drugs coming from Eastern Europe or China. The quality is very iffy.
 
Did you lose your previous coverage because of external_linkcare or did you just go shopping and find something cheaper? If you are supposed to get an almost $800.00 per month discount it must be heavily subsidized and I would imagine those subsidies depend on how many young people sign up and actually pay their premiums. I have read that many if not most of the external_linkcare plans are only good in your home county/city and that if you are traveling or working away fom home you have no coverage, did the web-site say whether or not the plans are portable?.
 
The only way that you could get such a low cost insurance is if your income is very low. In fact you might be at the income level where you quilify for free health insuranc known as medicaid.
Myself I have always worked hard and made too much money to get anything free from the great provider.

I am glad that some good people can get something to provide relief from the high cost of health care. LOTS OF LUCK!
 
Well....That makes it ONE of you to many millions on the OTHER side of the issue. Coverage for my wife and myself will INCREASE just over $7200 per year, along with a big jump in deductible, not including the part where "Uncle Sam" has to go farther and farther in debt to make this fiasco work. Basing expected cost to cover deductibles on medical cost from previous year, we expect to tack on another $4500+ to that $7200. How many people do you know of that can withstand an $11,700 hit to their income in a year, considering the current state of the economy we live with? Like I said, a death knell to the middle class.....
 
I watched,listened to and read script at the PBS site. Like 99% of news stories,half truths were told to slant the story to thier needs. After going on and on,the last thing said was all that needs to be said.

THOMPSON: "I would say let the buyer beware. Shop around. Be thorough. Do your homework."

Has that not been the heart of free interprise from the begaining? Drugs are a business same as any other business. If drug prices need controling,so does food and other nesessities. I don't want nor require "a nanny" aka Washington controling prices. If do gooders need a cause,let it be the strangle hold that lawyers have us in,or perhaps constitutional issues that are challanged daily(as they should be). Better still,campaign to require mass media to reveal all of the facts if they reveal part of them. It has been agreed for centuries that legaly and moraly,a half truth is a lie same as any other lie.
 
Hahaha, been there done that!!!! I'm usually good for one sinus infection a year. Always had to go in and see the doctor to get a prescription for Amoxicillin. It works well for me. A few years ago the vet was out and prescribed Amoxicillin for a horse. The price difference was astounding!!!! I'll let you guess where I get my Amoxicillin now.... no more expensive doctor visit and prescription here....

Casey in SD
 
I had insurance from a little known company with such a high deductible that I would have probably lost the farm anyway if anything had happened. I went shopping for a better deal.
What do you mean by "portable"? It's Blue Cross. I deal directly with them. I only went through the exchange to BUY the policy. Any dealings I have with this policy will be directly with Blue Cross Blue Shield of Michigan just as if I'd bought it through Farm Bureau.

It just amazes me how many people just believe what's fed to them on the radio three hours a day and take it as gospel instead of looking in to things themselves.

And for the assumption that I'm eligible for Medicaid,no,that's the first thing that the site checks when you fill out the application. Income is only a part of determining your premium. Age,number of people in the household,tobacco use,even the county where you live are factors.If you don't know how premiums are determined,you've never bought your own health insurance.

Those who bought the talk radio garbage that your credit card information will be stolen from the site are being asked to spread lies by people who have nothing but a political stake in this thing failing,not an interest in your well being. Nowhere on the site does it ask for any card number or bank account information. They don't even ask WHERE you bank. I can't stress enough,YOU DEAL DIRECTLY WITH THE INSURANCE COMPANY THAT YOU CHOOSE!

I've learned something over the years.There are people who are conservative,like I am,and have the good sense to check things out for themselves and do whatever they can to save a dime,and there are mouth pieces for so called "conservative talk radio" who follow a charismatic leader and blindly repeat whatever they're told to say.

Anybody who gets a premium notice for part of my policy premium,send it to me and I'll pay it.
 
just who do you think paid for those without insurance before the affordable care act? the non-partisan cbo said the aca will save lots of money. give the plan time to work or not.
as for your personal situation, sounds like you need to shop around for a better plan. your previous plan was probably junk and you just didn't know it.
 
sounds like you have it made. what are you so mad about? quit attacking the straw-man and see where, what, and who are the real problems in this country.
 
The guy who managed the elevator told about an old guy who'd come in back when his Dad was manager. Said if the old guy was feeling poor,he'd grab a disposable syringe and needle off the shelf,go over to the refrigerator and get a bottle of penecilin,draw some up,unbutton the side of his bibs and give himself a shot in the backside.
 
We used Rite Aid for years for prescriptions (or Mrs. WA did- I didn't have any). Had a slight stroke in January, needed 3 common prescriptions. $300 for one months worth of generics at Rite-Aid. Son told me to check Costco- next refill was $75 for 3 months worth at Costco. Then went on Medicare- now down to 30 bucks for 3 months, total.

I asked Rite-Aid why the discrepancy- they couldn't explain. I think they thought I had prescription plan, which I didn't at that time, and I caught them in some good old-fashioned gouging.
 
Part of that reasoning is liability and maybe a little more care to prevent contamination. The other part is because they can get away with it.
 
I actually did watch that and thought it was very interesting. No surprise on the markup, everyone has to make a living somewhere. My parents were shocked on how much the price of food varied between the same line of grocery stores in the same town. Milk might be 50¢ more expensive or meat, just depended on where they needed to make their dollar at. I was at Walmart last week and noticed they had a 50' of 12/2 Romex for $50. Now I can buy 250' for $69 at Menard's. Is that price gouging, just smart business, or does it really depend if I'm buying wire/drugs as to how much they are allowed to make on a given product.
 
I asked a few questions because I was interested in what the selling points are. I don't listen to talk radio, never have, don't have time to and never said anything of the kind. Portable means exactly what I stated above, that the insurance will be honered in other states, away from home etc. I read in the mainstream newspaper that many of the policies sold on the exchanges will not be valid outside of the purchasers area or where their networks are, I have no idea if that is true or not but figured you probably read it on the site if it applies. I never said you were eligible for medicaid, for all I know you can buy the local hospital and fire all the Doctors. I am in a company group plan and have been for many years so my insurance is subsidized by both my employer and by the premiums of the younger employees who are paying but not using, my premiums are still quite a bit more per month than the quote you posted. Maybe this latest ponzi scheme will last but I doubt it. I also check things out for myself and if it sounds to good to be true it usually ain't.
 
Ya,that wasn't just aimed at you. There were two other responses before yours and I wasn't going to answer each one separate. I should have been explicit as to who I was addressing. But yes,just like the insurance you have through you employer,ALL insurance is based on collecting money from those who aren't filing claims to pay off those who do file. I'll bet if your employer hires somebody new,they pay a premium on their group policy that's the same whether the new employee is 18 and healthy as a horse or 60 and on oxygen.
It just amazes me how a few people who oppose things based solely on politics can convince SO MANY people to just blindly follow them instead of checking things out themselves. It's no different than what the union leaders do to the rank and file with their union newsletters.
The talk radio crowd will argue all day long that the more market you create for a product the lower the cost will be,but not when it comes to health insurance. I just don't get it. I honestly don't.
 
The CBO made several projections 3 years ago based on implementing the law as written and passed by congress which has not happened. The largest revenue source was supposed to be the so called ''cadillac tax'' on high value plans, like many union plans, well, external_link exempted the unions and several other favored groups, the Supreme Court knocked a few other balls out of the park so whether it would have worked or not is a mute point because it is not the same law that the CBO made those pie in the sky predictions about. I work for a foreign based employer that does no business in the US so I don't have to worry about losing my plan as long as I am employed by the company or being taxed on it because it is a direct payer plan.
 
Greg, I've wressled with the same question myself. The problem I have comparing healthcare to buying parts for my baler is the emotional factor. If my child is hurt or seriously ill, or my mother, I am going to agree to almost anything, at any price to get them well. Medical decisions have us over a barrel much more than anything else we buy. Even with dental, you can usually delay a little and shop around. With medical, when you have 102f fever, chills etc, you need a fast diagnosis and treatment.

I don't know the solution, but to say buying healthcare is just like buying any other commodity, like motor oil, is not very realistic in my opinion.
 
I agree that most people are not going to take their sick or injured loved ones out of one emergency room and run down the street to the next to try and save a few bucks but where the free market could come into play in reducing healthcare costs would be opening up the insurance market to sell across state lines, some states have very few choices. And I think most people would agree that many medicines are over prescribed and people overuse their insurance and take too much crap, as recently as 25 years ago we had 1 pharmacy in our small town, now there are 3 in town plus every grocery store and wal-mart has one and any town of any size has a chain pharmacy on just about every corner. I would bet that any town in the USA over 50,000 people has at least 5 times as many pharmacies as they had 20-25 years ago, who is taking all this dope?
 
Not all insurance was "portable" BEFORE external_linkcare...especially HMO plans. As I said, I sold Medicare Advantage plans, and UNLESS some of these plans had a "passport" provision, once you left your regional network, you were ONLY convered for emergency services, NOT routing or chronic conditions.

So that part HASN'T changed.
 
from what i understand, they have made several projections since then. you are right, not as rosey as 3 yrs ago, but still on the plus side.
 
Your absolutely right that too many people fail to think for themselves and listen to people who are only interested in ratings or advancing their own causes. I hope it works out to be a good deal. Merry Christmas.
 
Until I read that story the other day I never realized that there were plans that were local only and like I said I don't know how true it is or how prevalent. I have been fortunate to have worked for the same employer for 35 plus years and my plan has always been good anywhere.
 
Good points. I really do not understand why every state has different insurance laws. I have a hard time justifying the need for that beauracracy 50 times. But must be some reason?

KY (I am told) has been very bad in the past with only a few insurance suppliers.
 
You and I are probably on the same page, just maybe different paragraphs lol. I don't have any answers either, just making a comparison, perhaps a poor one though. I suppose it comes down to a matter of value, our children are infinitely more valuable than a roll of wire, at least most of the time lol. Like you said its not a simple problem. In a purely free market all is fair if you make a profit, but in a complete socialist(maybe wrong term) it is all about making it fair for everyone's needs. Neither of which are the answer in my mind, a mix of the two is ideal but my ideal and someone else's are two different things. In the end I think the target markup is excessive but if I bought it and realized how much I overpaid I would blame myself not Target. I'm guessing you and most people are the same way.
 
I pay $10.00 for a 90 day supply. It's the health coverage for civil service workers and retirees that Ike and Nixon started and Jack Kennedy made it law along with the Interstate HWY
construction. Every year they have an open season for about 6 weeks. I-95 here in MD will soon have toll lanes and a toll free lane. Hal
 
Greg, you're comparing apples and oranges on the Romex. The Walmart price is cheaper for the homeowner who has a small project, needs less than 50 feet, and would have no need for any more (nor the storage for it- garage is already full!). Menards is for us guys on farms with never-ending projects, who will use up the 250' eventually and be back for more, and don't mind storing it until they do.
 
Funny nnalert Senator Max Bacus has been saying some of the worst things about ACA of anyone and I'm pretty sure he doesn't have a radio show.I hope you are right as I'm paying over $500/month for a not so great policy now but I'll let some of the other Lemmings go over the cliff and see how they do before I take the plunge(LOL)
 
My wife and I are in our mid 50's. We currently pay just over $6K a year for very good Blue Cross Blue Shield coverage. BCBS sent us a cancellation notice. Reason being our current policy doesn't meet certain ACA requirements. If we choose the BCBS policy that most closely compares to our current policy (plus the added coverage required by the ACA which we don't want) our premiums will be well north of $12K a year, and our deductible will triple. So much for affordable.....

I just talked to a friend that's close to my age but still has 2 kids at home. He said the ACA is costing him an extra $400 a month in premiums and his deductible will be more than double.
 
Sorry, my point was that Walmart can buy it for the same or less than you and me but cuts off 50', triples the price, and its OK. Bring health care into it and everything goes out the window. Where is the line drawn and for who? Like they said "buyer beware".
 
You are supposed to get refunds on anything your insurance company does not spend on you above 20% as long as you are buying a private plan like Blue Cross. Look in to it and the premiums might not look so bad.
 
If the ACA was all that good BO would be making changes every other day. They would not have to have some stupid public relations campaign to get people to sign up. More people have lost their coverage than have signed up. You really have to be a dumba$$ to roll out a web site with all the problems this one has had. Not everything you hear on talk radio is false. Remember if you like your health care plan you can keep your health care plan..........
 
For those of you who served our country, in the
military, The VA charges $9 for a 30 day supply,
$27 for a 90 day supply. I am getting NAME BRAND
drugs, NO Generics !
 
(quoted from post at 10:37:25 12/24/13) You owe it to yourself, your family and your friends to watch the segment on drug cost on TV, PBS News Hour, aired last night.

Same generic cancer drug highest price of $455 at Target....then many different prices elsewhere...down to a lowest price of $11.04 at Costco.

Helps explain why healthcare costs so much in America with a 10,000% retail markup on cancer drugs. Seems unethical to me.



Just Google PBS Newshour...the go to the site and look for the segment from December 23, 2013
titled "Generic drugs don't necessarily mean low prices". you can watch it on your computer.


I know...you have a Medicare drug plan..me too...but not all your friends, or family quailify for medicare. Learn how to shop for the best price.
Click to expand...

businesses should not be able to charge "what the market will bear"?
 
(quoted from post at 22:11:56 12/24/13) You are supposed to get refunds on anything your insurance company does not spend on you above 20% as long as you are buying a private plan like Blue Cross. Look in to it and the premiums might not look so bad.
Click to expand...
Where did you get that info?
If that's true it would be the end of private insurance.
 
Came into law last year. Only applys if you purchase health insurance through the marketplace, not through an employer or the cut rate companys. I have a friend who is strong nnalert. Says his wife has received refunds on a regular basis. He voted for external_link because of that. This is not bull, look into it. Companys are only allowed to make 20% profit on you.
 
(quoted from post at 12:06:34 12/26/13) Came into law last year. Only applys if you purchase health insurance through the marketplace, not through an employer or the cut rate companys. I have a friend who is strong nnalert. Says his wife has received refunds on a regular basis. He voted for external_link because of that. This is not bull, look into it. Companys are only allowed to make 20% profit on you.
Click to expand...
The ACA requires insurance companies to spend 80% of premium revenue on medical costs on a state by state basis. NOT on an individual basis. It's entirely possible to not use your insurance coverage and still not receive a refund.
Say they only spend 75% on medical costs....They are required to refund 5% of the premium revenue to their customers. The problem with that (other than circumventing the free market system) is that overhead and administrative costs eat up nearly all of the remaining 20% leaving the insurance companies to operate on very thin margins. I read of one state where a large insurance company only made a fraction above 1% profit on it's healthcare policies.
Also, some states are exempt from the 80/20 requirement, and several more states have asked to be exempt.
 
I may well be confused, I do know my friends wife [mid fifties] has gotten sizable refunds several times since last year. However we live in Ky and any thing can happen here. They have always refused me insurance because my wife had type 2 diabetes.
 
I would like to add a PS to the drug price thing. Recently my wife needed cataract removal. Doc says $5000. Cut rate insurance would not pay. One week later doc calls back and says $2249 if I pay cash. Who is ripping who?
 
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