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upnorth

ACA before and after

1,443 posts in this topic

“Health care inflation has gone down every single year since the law [the Affordable Care Act] passed, so that we now have the lowest increase in health care costs in 50 years–which is saving us about $180 billion in reduced overall costs to the federal government and in the Medicare program.”

– President Obama, news conference, Nov. 5, 2014

This earns him ....

pinocchio_3.jpg

http://www.washingtonpost.com/blogs/fact...-it-was-passed/

Another day, another lie.. smirk

Cliff Wagenbach likes this

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My family coverage went down this year, but my deductible went from $1000 a year to $6000 a year!!! Thanks Obama grin

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Obamacare Faces New Threat as Supreme Court Weighs Appeal

Oct 30, 2014 4:00 AM CT

The fate of President Barack Obama’s health-care law is again in the hands of the U.S. Supreme Court.

Two years after upholding the law by a single vote, the justices are weighing whether to hear a Republican-backed appeal that would block people in 36 states from getting tax subsidies to buy insurance. The justices are scheduled to discuss the matter tomorrow, with an announcement coming as soon as Nov. 3.

Justices to hear challenge to health law subsidies

Nov 7, 1:05 PM EST

WASHINGTON (AP) -- The Supreme Court agreed Friday to hear a new challenge to President Barack Obama's health care law.

The justices said they will decide whether the law authorizes subsidies that help millions of low- and middle-income people afford their health insurance premiums.

http://hosted.ap.org/dynamic/stories/U/U...-11-07-12-51-59

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“Health care inflation has gone down every single year since the law [the Affordable Care Act] passed, so that we now have the lowest increase in health care costs in 50 years–which is saving us about $180 billion in "reduced overall costs to the federal government" and in the Medicare program.”

– President Obama, news conference, Nov. 5, 2014

Another day, another lie.. smirk

Well, it may not be a lie? The lower cost may have been reduced for the Federal Government. Now if the bast-ard would just past it back to the people he serves maybe we could all benefit! whistle

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“Health care inflation has gone down every single year since the law [the Affordable Care Act] passed, so that we now have the lowest increase in health care costs in 50 years–which is saving us about $180 billion in "reduced overall costs to the federal government" and in the Medicare program.”

– President Obama, news conference, Nov. 5, 2014

Another day, another lie.. smirk

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And every widely used drug that comes off patent reduces cost by a lot. For example, Lipitor was about a $10 Billion per year revenue drug, worldwide or about 4 billion US. The generic form Atorvastatin is now more like .8 billion.

Here is an interesting chart or two.

Patent Exp 2011 Condition Company 2010 U.S. Sales

Lipitor cholesterol Pfizer $5,329,000,000

Zyprexa antipsychotic Eli Lily $2,496,000,000

Levaquin antibiotics Johnson & Johnson $1,312,000,000

Concerta ADHD/ADD Johnson & Johnson $929,000,000

Protonix antacid Pfizer $690,000,000

Patent Exp 2012 Condition Company 2010 U.S. Sales

Plavix anti-platelet Bristol-Myers $6,154,000,000

Seroquel antipsychotic AstraZeneca $3,747,000,000

Singulair asthma Merck $3,224,000,000

Actos type 2 diabetes Takeda $3,351,000,000

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And every widely used drug that comes off patent reduces cost by a lot. For example, Lipitor was about a $10 Billion per year revenue drug, worldwide or about 4 billion US. The generic form Atorvastatin is now more like .8 billion.

Here is an interesting chart or two.

Patent Exp 2011 Condition Company 2010 U.S. Sales

Lipitor cholesterol Pfizer $5,329,000,000

Zyprexa antipsychotic Eli Lily $2,496,000,000

Levaquin antibiotics Johnson & Johnson $1,312,000,000

Concerta ADHD/ADD Johnson & Johnson $929,000,000

Protonix antacid Pfizer $690,000,000

Patent Exp 2012 Condition Company 2010 U.S. Sales

Plavix anti-platelet Bristol-Myers $6,154,000,000

Seroquel antipsychotic AstraZeneca $3,747,000,000

Singulair asthma Merck $3,224,000,000

Actos type 2 diabetes Takeda $3,351,000,000

Do you have a list of development costs for these same drugs for each company? Everyone likes to complain about the profits but have no idea what the development costs were or how many lives they may have saved world wide. Until China can come up with some cheap knock-off drugs or Joe crack-head can cook some up in his trailer house. I'm just glad someone is making some life saving drugs.

JP Z likes this

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What is life saving about it if you have to loose everything to get it?

Much, much more to life than just money and stuff.

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Do you have a list of development costs for these same drugs for each company? Everyone likes to complain about the profits but have no idea what the development costs were or how many lives they may have saved world wide. Until China can come up with some cheap knock-off drugs or Joe crack-head can cook some up in his trailer house. I'm just glad someone is making some life saving drugs.

You misinterpretted my post, or I didn't make myself clear. The rate of increase in healthcare cost has slowed. One reason is that some widely used drugs, such as Lipitor, have come off patent protection and are now available as generics. It is not necessarily due to ACA magic.

Here is back of envelope calculation

The us GDP is about 16T. If medical expenses are about 15% of GDP, that is 2.4T. 1% of medical cost is therefor 24 Billion. So drugs going generic is part of 1%, maybe .3% reduction in medical cost. So it contributes to "bending the curve" along with medical equipment being depreciated etc.

I thought it was an interesting fact is all.

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Foe every Lipitor that comes off the market there are multiple costlier drugs coming online to more than make up for it.

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Talk about drug development costs.....Funny how medications are much higher priced in the US than other countries....Quess we pay the development costs for the rest?

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Talk about drug development costs.....Funny how medications are much higher priced in the US than other countries....Quess we pay the development costs for the rest?

We also take WAY more prescription drugs than most other countries. The united states makes up 5% of the world's population, but we consume 75% of all the prescription medication on the planet. We have drugs for things in this country that doctors in most other countries would treat by telling patients "it isn't a big deal". We also have advertisements for drugs, which is something most foreigners I've talked to find really really weird (along with commercials for lawsuits). Realistically, we wouldn't have to reform healthcare in any way if we consumed a reasonable amount of medication. But we go to the doctor expecting them to give us something to make us feel better.

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Foe every Lipitor that comes off the market there are multiple costlier drugs coming online to more than make up for it.

Many people still take the older drugs, since they work just fine. Prilosec and Nexium are sold over the counter and do the job. Likewise Claritin, Allegra, and other allergy drugs.

Almost all of the statins are now generic, Crestor being one of the few that is not, if I recall correctly.

The same is true with all sorts of drugs. Tamoxifen, an important breast cancer drug, has been generic for more than 10 years.

Yes, other drugs are still being developed and some are expensive, especially the ones that cure diseases that were previously incurable like Hepatitis-C or that provide better results like the biologics for Rheumatoid Arthritis.

It brings up an interesting philosophical question: Should someone who has the only cure for a serious, perhaps life threatening disease, be able to charge an arbitrarily high price of their choosing for it?

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Foe every Lipitor that comes off the market there are multiple costlier drugs coming online to more than make up for it.

Just seen a new one advertised yesterday for toe-nail fungus. laugh

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It brings up an interesting philosophical question: Should someone who has the only cure for a serious, perhaps life threatening disease, be able to charge an arbitrarily high price of their choosing for it?

Of course they should be able to charge whatever they want or whatever the market will bear. If you don't allow capitalism at it's finest then what is the incentive for someone to devote their lives, money and resources into curing said disease?

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“We just tax the insurance companies, they pass on higher prices that offsets the tax break we get, it ends up being the same thing. It’s a very clever, you know, basic exploitation of the lack of economic understanding of the American voter,” Gruber said in remarks from 2012.

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Meanwhile, House Minority Leader Nancy Pelosi dismissed Gruber’s role in Obamacare on Thursday, telling the press, “I don’t know who he is. He didn’t help write our bill.”

Many outlets were quick to point out that Pelosi cited Gruber in a “Health Insurance Reform Mythbuster” on her official w-e-bsite in 2009.

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Quote:
Originally Posted By: delcecchi

It brings up an interesting philosophical question: Should someone who has the only cure for a serious, perhaps life threatening disease, be able to charge an arbitrarily high price of their choosing for it?

Big Dave:

Of course they should be able to charge whatever they want or whatever the market will bear. If you don't allow capitalism at it's finest then what is the incentive for someone to devote their lives, money and resources into curing said disease?

Actually, charging arbitrarily high prices is the whole idea behind the patent monopoly system... wink

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