Archive for the ‘health insurance laws’ Category

Paving the Roath to Hellth Care

2006 March 12

This is the situation that prompted the opening of this blog.

I spoke with someone in the medical field who, on occasion of a company purchasing a very old anti-cancer drug and increasing its price by an order of magnitude, with the lame excuse that they want to use the money for research, cried out for MORE REGULATION against the EEEEEVULLLL pharmaceutical companies.

I said, NO!

There is one tidbit the reader needs to know to understand the situation: Medicare is prohibited from denying coverage for drugs just because they are expensive.

Here it is, regulation in action.

This one regulation, created with good intentions obviously, paves the road to the current hell because it gives the drug companies the leverage to charge any price they want.

If some company bought the right to manufacture Tylenol and suddenly increased the price of a box from 6 to 60 dollars to “bolster research”, it would be out of business before a lawyer can say “ka-ching!” Why?

You know why, I won’t insult the reader by spelling it out.

Another regulation: — actually I’m not sure of the regulation itself but there has to be a regulation, or a set of regulations somewhere as a result of which only certain (American?) drug companies can submit pharmaceuticals for the FDA to approve.

Get rid of these 2 regulations, and Medicare, or any InsCo, will be able to (1) tell the drug Co, sorry pal, I’m not paying that much for the stuff and (2) any drug company on earth can submit their version of a generic drug for approval to the FDA.

So here it is, the first 2 laws, or regulations, submitted for repeal, by yours truly.