by Gabriel Levitt, President, PharmacyChecker.com and Prescription Justice | May 19, 2010 | Healthcare Reform
You should know that drug prices are going down in the European Union, which is good for consumers — if you live in Europe. On our side of the ocean, according to AARP’s most recent price report, US drug price increases are on an even greater tare than previously reported – almost 10% over the last year. Analysts suggest that pharmaceutical companies continue to jack up prices on brand name drugs so that government-mandated rebates have less impact on corporate profits. Other reasons may include the need to compensate for lower prices in Europe and a desire to squeeze more profits in the face of pending patent expirations on several blockbuster drugs, such as Lipitor in 2011.
The bottom line is that the more drug prices go up now, the less meaningful the Medicare drug plan discounts will be later. Additionally, higher drug prices can push up Medicare drug plan premiums (up 11% in 2010 already) and have a major impact on tens of millions without health insurance or a drug benefit.
Tagged with: Drug Prices, Healthcare Reform, Medicare, pharmaceutical companies
by Gabriel Levitt, President, PharmacyChecker.com and Prescription Justice | May 11, 2010 | Healthcare Reform
We reported and discussed the generally positive changes to Medicare’s Part D brought about by the new healthcare law, including a 50% reduction of drug prices during the coverage gap (the “doughnut hole”) in 2011. But the devil is always in the details. According to AARP, federal regulations drafted by the Centers for Medicare and Medicaid (CMS) may provide loopholes for some insurers whereby not all plans would have to meet this requirement. The AARP notes that it will closely monitor the actions of pharmaceutical companies to ensure that they are living up to their commitments to bring down drug prices for our seniors and other Medicare enrollees. PharmacyChecker.com commits to do the same and to help those who are falling through the cracks by providing information about finding safe and affordable medication online.
Tagged with: Healthcare Reform, Medicare, pharmaceutical companies, seniors
by Gabriel Levitt, President, PharmacyChecker.com and Prescription Justice | May 3, 2010 | Politics
One of the co-sponsors of the Pharmaceutical Market Access and Drug Safety Act, with Senator Byron Dorgan, was recently honored for “her ongoing advocacy of policies and initiatives that seek to improve the lives of older Americans age 50-plus.” Senator Olympia Snowe (R – ME) was awarded the 2009 Legislative Leadership Award by AARP for her support and efforts toward quality healthcare, especially affordable prescription drugs. This shows just how concerned our leading senior’s organization is with high cost of prescription drugs in this country. That AARP’s focus was on Snowe’s efforts to legalize safe personal drug importation speaks volumes that this issue will persist in the aftermath of the new healthcare legislation.
Tagged with: Dorgan, Drug Prices, Healthcare Reform, personal drug importation, Snowe
