Imagine you need a drug that costs $50,000. With a $5,000 deductible and $50 copay, that's too much. So you skip treatment.
Now imagine Congress cuts the price of all drugs in half. This means less research for new cures, but at least it helps you - right?
Not so fast. Your drug costs $25,000 now, but your deductible is still $5,000. That's because insurance reform is the key to making drugs affordable.
Here’s the thing. No one should go broke, skip their medications, or even die because they can’t pay their out-of-pocket costs
Our goal is to ensure that all Americans can afford the treatments they need and guarantee that our country continues to get good value from investment in new medicines
Eliminate out-of-pocket costs
Expand insurance to everyone
Ensure—through government regulation—that all drugs go generic
Unlike drugs, nothing about healthcare services gets less expensive over time
The costs of surgeries and doctor visits are always rising, much like rent
But what America spends on new drugs is like a mortgage—an investment, not an expense
Once we have paid off a drug’s mortgage, it goes generic, society owns it, and its cost is forever low. We believe drugs that don’t go generic on time should be required to do so.
As old drugs go generic, America can invest in mortgages for new ones, improving our health and saving money on hospitalizations. And with proper insurance with low or no out-of-pocket costs, all patients will be able to afford the treatments they need.
Or, it could completely collapse our industry
Timmerman ReportThe President's executive orders do nothing to lower out-of-pocket costs
StatTwo strikes and a home run
StatWhat's the smallest increment of medical innovation that is worth its cost to society?
Timmerman ReportA life-changing drug for cystic fibrosis patients is deemed "not worth it"
StatLet's celebrate when drug patents expire
5 Million Black and Hispanic people may lose their coverage because of the pandemic