I see a very troubling new trend regarding Healthcare – as companies (mine included), move their employees into high deductible Insurance plans to save money – they are forcing employees to pay the full price for drugs and services (up to a high deductible). At the same time, Pharmaceutical companies are increasing the prices on established products – eating into many families disposable incomes. Without the insurance company negotiating on price – a lot of people are being squeezed.
Need an example, how about this:
- New York Times – EpiPen Price Rise Sparks Concern for Allergy Sufferers
Mylan, the manufacturer of EpiPen, raised the price of the allergy injector to over $500, a more than 400 percent hike since they started selling the product in 2007!
According to Federal Government statistics, inflation is very low – a fact the Federal Reserve loves to use as an excuse to punish savers and retirees, by keeping interest rates at zero. But for anyone who has to pay rent (or buy a house), eat food, or is unlucky enough to get sick – inflation is dangerously high.
I found this editorial on Bloomberg interesting – is Healthcare a right?
- Bloomberg – Health Care Is a Business, Not a Right
I understand the business arguments, but you would have to think there will be a breaking point where folks are not going to be able to afford any more price increases – as the costs overwhelm disposable incomes.
So where are costs going next year?
Stay healthy – or else!
Update:
Can you say Karma?
- Business Insider – The maker of the EpiPen is tanking after it was called out for hiking the drug’s price by over 500%
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