A painless Way to Cut 40 Billion From the Deficit

Discussion in 'Politics' started by Flopper, Jun 19, 2011.

  1. Flopper
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    Flopper Gold Member

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    Medicare Part D now cost the taxpayers over 50 billion dollars a year. Costs will soon rise to over 60 billion. This program could be changed to save taxpayers over 40 billion a year and allow seniors to get prescription drugs cheaper than what they are paying under Part D.

    Prescription Drugs from Canada can be purchased at 1/3 to 1/5 the US cost. I have checked the cost of buying drugs through Canada in lieu of using Part D for my wife, my brother, and myself. We would each save $300 to $800 per year by canceling Part D and just buy through Canada.

    There are several reasons why Part D plans costs are so high. Although Medicare pays for the drugs, private insurance companies manage the plans. The insurance companies collect a premium from seniors and take no risk since Medicare pays for the drugs. Medicare does not negotiate any prices for the drugs so prices are retail price, which are more than what most people pay at their local pharmacy. Unless the insurance company negotiates a lower price, the plan is paying top dollar for the drugs. In addition seniors pay a premium to the insurance company plus a deductible and a co-pay for each prescription. Once drug costs reach about $2700 in a year, seniors pay the full cost until their out pocket reaches about $3500.

    By changing Part D to eliminate all but catastrophic coverage, which has about a $6,000 deducible and allowing seniors to purchase drugs through Canada everybody wins. Well not quite. The losers are? You guessed it, insurance companies and drug companies.

    There is no bill in Congress to make these changes because the drug and insurance lobby will not allow it. They have the votes to block any attempt to cut off this gravy train.

    Currently lobbyist for the drug companies are working Congress and the administration to stop all Americans from buying drugs through Canada and other countries which will add billions more to their revenues.
     
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    Last edited: Jun 19, 2011
  2. Polk
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    Polk Classic

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    It wouldn't save as much money, but we could negotiate prices instead.
     
  3. Oddball
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    Oddball BANNED Supporting Member

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    Polishing a turd.

    Let's get the feds out of the medical care bidness altogether and really bank the savings.
     
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  4. Dot Com
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    Dot Com Nullius in verba Supporting Member

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    Thanks Republicans :clap2:
    Medicare Part D - Wikipedia, the free encyclopedia
     
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    Last edited: Jun 19, 2011
  5. Susan45
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    Susan45 Member

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    Excellent post. I have been buying all my meds from Canada for years now. I was so pissed off when they passed that damn drug bill, I refused to join up and looked for alternatives. It works just fine. Just recently I checked out some prices and at Cosco, which I found is among the cheapest, was almost twice as much as Canada.

    The new healthcare bill is addressing this problem. Here is a tool that shows how and when the new rules and regs start. I think that some people are going to get back some of the money they lose in the donut hole.

    Implementation Timeline - Kaiser Health Reform

    Did you know that Bush said he would veto the drug bill if it allowed negotiations with the program and the drug companies? All I have to do is think about that and I get mad.
     
  6. Polk
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    Polk Classic

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    I love the magical thinking on display around here.
     
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  7. Oddball
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    Oddball BANNED Supporting Member

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    Occam's razor, pal.
     
  8. Polk
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    Polk Classic

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    Occam's razor cuts against your argument.
     
  9. Antiderivative
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    Antiderivative BANNED

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  10. auditor0007
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    auditor0007 Gold Member

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    The whole drug thing is a mess. We subsidize those in other countries who receive the same drugs at much lower prices. It's time to tell the drug companies that we will only pay what other countries pay. If they need to make more money, then they need to charge more in other countries rather than fleecing Americans for every penny of their profit.

    I have no problem with the drug companies making money, but I do have a big problem with Americans subsidizing the rest of the world when it comes to those drugs and the companies that sell them.
     

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