If this is a preview of Health Care Reform, then most Americans are going to be very disappointed.
CBS News The Pharmaceutical Research and Manufacturers of America (PhRMA) has agreed to reduce its draw of revenues by $80 billion over 10 years by discounting the cost of medicines in Medicare’s Part D prescription drug program for some seniors by as much as 50 percent. The discount would go to seniors who fall into the "doughnut hole" -- a gap in Medicare Part D coverage. Currently, once seniors have received $2,700 worth of drugs, they are left to pay the full cost of their medication until that cost reaches $6,100. "This gap in coverage has been placing a crushing burden on many older Americans," Mr. Obama said. The agreement, he said, will make health care "more affordable for millions of seniors and restore a measure of fairness to Medicare Part D."
Who do these folks think they're fooling? The cost of medications through Medicare Part D have been and continue to be over inflated. If seniors could get their medications at the prices charged in Canada (see graphic below) many of them would never fall in the infamous "doughnut hole" and while we're on the subject of "doughnut holes". Why is a "doughnut hole" necessary? I suggest real reform would eliminate the "doughnut hole" entirely. Just more smoke and mirrors as far as I'm concerned. When my wife's Medicare Part D coverage gets close to the infamous "doughnut hole" I get her medications in Canada. Click here to read the article and see the video I put together comparing drug prices from Aetna and Canada Rx North in 2007. As you can see in the graphic below, in Canada you can get 90 generic Singulair 10mg tablets for $155.79 or $1.73 a pill, while my Medicare Part D provider charges $305.11 or $3.39 a pill. Where is the free market when you need it? It's embarrassing to to hear the President that I voted for say, "This gap in coverage has been placing a crushing burden on many older Americans." The agreement, will make health care "more affordable for millions of seniors and restore a measure of fairness to Medicare Part D." This is my response to Barack Obama, I voted for real change, not smoke and mirrors.
