Due to a little provision in the 2019 budget bill passed by Congress today, fewer Medicare enrollees may need to look online to international pharmacies for lower costs. That’s because the Part D discounts mandated under Obamacare are being phased in a year earlier. These are discounts provided to enrollees who fall into the Medicare Part D coverage gap “the “donut hole”.
Without the new provision, people in the donut hole would be responsible for around 50% of the cost of their medication until 2020, when they would only need to cover 30%. Now they will only need to cover 30% in 2019 – a year early.
This is a small win but perhaps it was a consolation prize. Regardless, some drug price relief is always welcome. It’s the drug companies who are forced to cover these discounts so they’re probably none too happy about this. On the other hand, maybe there was a backroom deal. The Creating and Restoring Equal Access to Equivalent Samples Act (CREATES), which would have helped lower-cost generics come to market faster, was slated to be a part of this bill. CREATES had massive support from groups on the left and the right, but it was knocked out of the final bill.
I’m glad that older Americans get a small discount next year on prescription drugs, but I have the feeling we got thrown a bone.
There are not many issues you can hear both Republicans and Democrats clapping about in unison, but high drug prices is definitely one of them. Echoing his 2016 campaign, President Trump again proclaimed during his State of the Union address Tuesday night that his administration is determined “to make fixing the injustice of high drug prices one of our top priorities.”
Speeding up the approval of lower-cost generics was noted by Trump as “exciting progress,” but nothing substantial has been done by the Trump administration on drug prices. The appointment of Alex Azar to head the Department of Health and Human Services department was a major disappointment. As president of Eli Lilly USA, Azar oversaw major price hikes on lifeline medications, such as insulin.
Appealing to both his base and popular opinion, President Trump could use his executive authority immediately to more expressly permit Americans to buy medication from international pharmacies.
Affordable medication exists. The only thing stopping the savvy consumer from obtaining affordable, safe medication is the tangled myth surrounding online pharmacy.
Are Overseas Pharmacies Unsafe and Illegal?
Yes and No. Despite wild hyperbole of the dangers of shopping for medication online that consumers are doomed to encounter in the Internet echo chamber (brought to you by BIG PHRMA), Money Talks knows that “there are ways to check online pharmacy sources for their safety.” Their reporting is a breath of fresh air: They correctly point out that just because the news focuses on counterfeit medications sold online, “doesn’t mean you need to rule out overseas pharmacies altogether.” That’s where we come in!
PharmacyChecker.com is recommended as a valuable resource for vetting online pharmacies Online pharmacies verified by PharmacyChecker.com are considered reliable, licensed, and are certain to require a prescription and sell genuine, effective medication.
What about the law? Will the government “bust you” for importing medication for your own use? Money Talks News contacted the FDA. The FDA’s response informed that they are not aware of actions taken against individuals. We’ve known that for 15 years but it’s nice to hear it again.
If you have been watching the news, you’ve likely heard the current administration’s support for affordable healthcare, lower prescription drugs costs, and less red tape around the FDA’s drug approval process. These platform statements are powerful to a country where prescription drug costs are significant. In fact, according to an AARP report from 2015, the price of prescriptions per household amount to more than the average family’s income per year. To many eager constituents, these campaign promises create the illusion of a future of financial stability and an adequate, cost-effective healthcare system that treats people as patients instead of dollar signs. Before we pop the champagne, we need to look at both the current system we are proposing to fix and the actions that the government has already taken against these its original statements.
The Trump administration points the finger at the FDA’s current drug approval process as a major cause for high drug prices. Critics of the existing approval process believe it to be slow, full of unnecessary procedures, and a hindrance to the approval of potentially life-saving drugs. Notice, I said potentially. (more…)
Utah State Representative Norman Thurston (R-64) has introduced legislation that would allow pharmacy wholesalers in Utah to import lower-cost pharmaceuticals to be sold within state lines. The bill’s goal is to lower the growing burden of prescription drug costs on the Utah budget and reduce out-of-pocket costs for Utah residents. The legislation is largely based on model state drug importation legislation drafted by the National Academy for State Health Policy (NASHP).
The bill, H.B. 163, “The Canadian Prescription Drug Importation Act,” differs substantially from past state-based initiatives, legislation, and laws on prescription drug importation. The most pronounced difference is that it seeks formal approval from the federal government to import medication from Canada. Past state laws on drug importation sought to circumvent federal regulations, such as in Maine, where the law was overturned in 2015. (more…)
Tens of millions of people have bought medications from foreign pharmacies – despite the technical illegality of importing those medications. According to reporting by Kaiser Health News last month, the FDA tested imported medications, apparently to see if what Americans are doing is safe. All medications the FDA tested “contain[ed] the ingredients matching the medicines ordered.”
The Kaiser Health News reporting was focused on international pharmacy options offered by local governments, schools, and other self-insured organizations. While that’s interesting, it’s not breaking news (I mentioned it here). The FDA testing imports and saying the medications are safe, albeit begrudgingly, is breaking news. (more…)
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A source for news and analysis about drug prices and safety, online pharmacies and personal drug importation, published on behalf of American consumers.
Due to a little provision in the 2019 budget bill passed by Congress today, fewer Medicare enrollees may need to look online to international pharmacies for lower costs. That’s because the Part D discounts mandated under Obamacare are being phased in a year earlier. These are discounts provided to enrollees who fall into the Medicare Part D coverage gap “the “donut hole”.
