Do you think it’s fair that Biden capped diabetes drug prices? Please read details.

What does “fair” mean in this context?

As I understand it, insulin makers were charging 5-to-6 times as much for insulin as it cost to make, and since it was a captive audience (peopled NEED insulin and there is no competition amongst the manufacturers), Biden capped the cost at a number that still gave the makers a profit, but didn’t price gouge patients.

One could argue that if the manufacturers had not been so greedy – charging 5–6 times what they should have – then Biden wouldn’t have needed to act.

So where is the unfairness?

If you want to gripe at anyone, gripe at the insulin industry, because they are the bad guys here.

@elbanditoroso Fair only meaning there are other drugs that are necessary daily and necessary to survive even if they are temporary.

I read he capped the copay for Medicare, not what the drug companies can charge. Is that incorrect?

I want everyone to have access to what they need, and I don’t mind some profit in it, but detest the huge gouges and taking advantage when a drug is necessary to stay alive.

From Bing AI:

“Yes, the cap on diabetic drugs, specifically insulin, currently only applies to Medicare. The Inflation Reduction Act includes a provision that caps the monthly out-of-pocket cost of insulin at $35, but this cap is limited to people on Medicare. Unfortunately, this means that many people with diabetes who are not on Medicare do not benefit from this cap.”

Not fair!

Bernie’s bill to allow the US to import drugs from abroad (like Canada) would have been orders of magnitude more significant, but Corey Booker took some nice checks from Pharma and torpedoed it.

US Insulin price, for consumers, is 6 times higher than Canada.

Figure 3.9 >>>>>> https://aspe.hhs.gov/sites/default/files/documents/7ec40da6efd90a2a71cf3399a5b3b24d/insulin-price-comparisons.pdf

I think an overhaul of the system is needed – prescription drug prices are out of control. That said, of course I support the little bit that has been done to protect a subset of patients with diabetes. Is it enough? No. Is it a good thing? Yes.

I also think it’s crazy that insurance can refuse to pay for a prescribed medication. I’m not even talking ozempic (which should be covered), but my insurance won’t pay for an antifungal mouthwash despite my recurrent thrush and widespread candida (yeast infection). Since I won’t pay $100 for a mouthwash, I can’t get what my doctor prescribed. The whole thing is a mess.

Fair is not a word that fits our healthcare system.

@Tropical_Willie If you have read through the document you linked, are the prices in the US still sky high for insulin, and simply the government is paying the cost now? Or, did Biden actually cap what the pharma companies and drug “stores” can charge?