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Clinton’s Prescription Drug Plan Won’t Cut Costs

- October 11, 2015

Clinton’s Drug Price Plan Is A “Feel-Good Idea” That “Would Create Perverse Incentives That Could Raise Instead Of Lower The Costs Of Developing New Drugs.” “It’s a feel-good idea that calls on the companies to account for their claims that they are research entities. But when I ran it by some health economists and other health policy experts, several strongly disliked the idea because it misunderstands the diversity of companies in the pharmaceutical industry. They say it would create perverse incentives that could raise instead of lower the costs of developing new drugs.” (Margot Sanger-Katz, “Why Some Policy Experts Question Clinton’s Plan To Contain Drug Costs,” The New York Times’ TheUpshot, 9/22/15)

“It’s Not At All Clear That Clinton’s Proposals – Some Of Which Have Been Mentioned For Decades” Would Lower Out-Of-Pocket Costs. “But while surveys show that health costs, and particularly drug costs, are a top concern for many voters, it's not at all clear that Clinton's proposals – some of which have been mentioned for decades – would provide an actual cure.” (Julie Rovner, “Does Hillary Clinton Have The Prescription For Out-Of-Pocket Costs,” Kaiser Health News, 9/25/15)

  • Clinton’s Plan To Limit “Out-Of-Pocket Spending” On Pharmaceuticals Is Already A Part Of ObamaCare. “Clinton’s drug costs plan would limit patients’ out-of-pocket spending on pharmaceutical treatment to $250 a month, or $3,000 a year. ObamaCare, also known as the Affordable Care Act, limited total out-of-pocket medical spending to $6,600 a year for an individual, and $13,200 for a family.”Bloomberg

Amitabh Chandra, Public Policy Professor At Harvard University: Clinton’s Plan Is An “Astonishingly Naïve Approach” That Could Result In Wasteful Research Spending And Do Nothing To Lower Prices. “‘This is an astonishingly naïve approach,’ said Amitabh Chandra, a professor of public policy at Harvard University, in an email. He argues that the plan could encourage wasteful research spending without necessarily doing much about the prices charged for medications.” (Margot Sanger-Katz, “Why Some Policy Experts Question Clinton’s Plan To Contain Drug Costs,” The New York Times’ TheUpshot, 9/22/15)

Ed Kaplan, Sr. V.P Of The Segal Group: Clinton’s Plan “Doesn’t Get To The Heart Of The Matter,” And “Capping The ‘Employee’s Exposure” To The Cost Of The Drug Does Nothing To Help The Employer, Who Will Pick Up The Tab.” “Ms. Clinton’s plan ‘doesn’t get to the heart of the matter,’ Mr. Kaplan said. Capping the ‘employee’s exposure’ to the cost of the drug does nothing to help the employer, who will pick up the tab, he said.” (Shelby Livingston, “Hillary Clinton’s Prescription Drug Plan Not What The Doctor Ordered,” Business Insurance, 9/23/15)

Steve Wojcik, V.P. Of Policy At The National Business Group On Health In Washington: Clinton’s Plan “Doesn’t Solve The Problem” And “The Price Of The Medication Is Still Being Absorbed By The (Health) Plan And Will Be Reflected Somehow In The Premiums.” “The $250 cap on out-of-pocket expenses would give immediate relief to individuals taking expensive medications, but ‘it doesn’t solve the problem,’ said Steve Wojcik, vice president of public policy at the National Business Group on Health in Washington. ‘The price of the medication is still being absorbed by the (health) plan and will be reflected somehow in the premiums,’ he said.” (Shelby Livingston, “Hillary Clinton’s Prescription Drug Plan Not What The Doctor Ordered,” Business Insurance, 9/23/15)


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