Republicans block price caps on insulin
OK, I got lazy…I liked the look of the chart. Note that this is a FOUR YEAR OLD IMAGE and the current cost is more like $300 a dose. It’s not like it is new and expensive to make – a vial costs less than $10 to make according to virtually every source I could find dated 2021-2022 (older sources quote lower) .
Amid the proposed changes to the plan was to set the $35 per month cap on insulin, the pricy medication needed to treat diabetes. Seven Republican senators voted with all 50 Democrats to keep the price ceiling in the legislation: Bill Cassidy of Louisiana, Susan Collins of Maine, Josh Hawley of Missouri, Cindy Hyde Smith of Mississippi, John Kennedy of Louisiana, Lisa Murkowski of Alaska and Dan Sullivan of Alaska.
Now, one of the few things I like in the Dem’s new Spend Money Like Coke Whores act is that they are giving Medicare the right to negotiate prescription prices. Like most of us, I know people who are having to choose between buying prescriptions and buying other essentials (disclosure: ONE of my wife’s meds lists at $14,000 a month, another $6,000) and the thought that the single largest Pharma customer, Medicare, has been forbidden to negotiate pricing is ridiculous. I remember the wage and price controls in the ’70s, when prices were artifically controlled at less than cost and shortages occurred. But with a profit margin of 2800% I don’t see that happening with insulin. Hope someone out there can give a reasonable explanation of why voting against this was a Good Thing.
Update before publication – believe I mentioned the other day the Republicans were going to use the “Byrd rule” to challenge non-budget spending items in the proposed bill – looks like this is one of the items they chose, claiming the Democrats are making poitics over a minor point. Okay… so what are all those D and R meatheads going to DO about insulin pricing?
Category: Congress sucks, Government Incompetence, Health Care debate, None
Ok. Not needing or knowing anyone who needs insulin….
Those prices shown in the chart…..how many are reduced by government support vs NOT being government supported/reduced? I think you see where I’m going with this.
Those prices were the list prices set by manufacturers, per the RAND study here:
https://www.rand.org/pubs/research_reports/RRA788-1.html
Understanding ‘real’ drug prices is, by design, nigh impossible, though.
You don’t know the ‘real’ prices because of… that thing, you know the thing.
It’s 100% government’s fault.
The Rest Of The Story:
Research indicates the plan to cap out-of-pocket insulin costs to $35 per month was for people with PRIVATE Insurance.
The Senate Parliamentarian did allow the $35 insulin cap to apply to MEDICARE Beneficiaries.
The Provision was set to be included in the Inflation Reduction Act. Democrats were trying to pass the Bill through Reconciliation, which allows them to bypass a GOP filibuster, a Senate procedure that would require 60 votes to hold debate on the Bill. However, it also narrows the scope of what they could pass, as rules require Reconciliation Bills to deal directly with budgetary matters.
This past Saturday, the Senate Parliamentarian determined the price cap violated Reconciliation rules, but allowed the $35 insulin cap to apply to Medicare Beneficiaries.
*Continued*
Democrats planned to move forward with the price cap for Private Insurers, despite the ruling. Senator Lindsey Graham enforced the Parliamentarian’s ruling, which means the 60 senators would have to vote for the price cap.
Senate Minority Whip John Thune said that Democrats’ effort to overturn the Parliamentarian’s decision “undermines the whole Reconciliation process.”
“Why Insulin Price Cap for Private Insurers Won’t Be in Reconciliation Bill”
https://www.newsweek.com/why-insulin-price-cap-private-insurers-wont-reconciliation-bill-1731606
Price caps on insulin is the reason non is made in Canada, they could not sell at a loss. So, Cananda buys it from the U.S at loss. And Americans can buy it cheaper up North. Bernie Sanders never covers this part.
So has anyone actually read the whole bill? This thing seems to have every thing in it that came from other failures. Saying that these Senators voted no to lower prescription drug costs is just political. Maybe they actually apposed the free sex changes and pedophelia investment tax!
Read the bill. Then ask the Senator why they opposed the bill.
MI Ranger
This is why:
https://www.newsweek.com/why-insulin-price-cap-private-insurers-wont-reconciliation-bill-1731606
“Research indicates the plan to cap out-of-pocket insulin costs to $35 per month was for people with PRIVATE Insurance.”
“The Senate Parliamentarian did allow the $35 insulin cap to apply to MEDICARE Beneficiaries.”
“The Provision was set to be included in the Inflation Reduction Act. Democrats were trying to pass the Bill through Reconciliation, which allows them to
bypass a GOP filibuster, a Senate procedure that would require 60 votes to hold debate on the Bill. However, it also narrows the scope of what they could pass, as rules require Reconciliation Bills to deal directly with budgetary matters.”
“This past Saturday, the Senate Parliamentarian determined the price cap violated Reconciliation rules, but allowed the $35 insulin cap to apply to Medicare Beneficiaries.”
*Continue*
“Democrats planned to move forward with the price cap for Private Insurers, despite the ruling. Senator Lindsey Graham enforced the Parliamentarian’s ruling, which means the 60 senators would have to vote for the price cap.”
“Senate Minority Whip John Thune said that Democrats’ effort to overturn the Parliamentarian’s decision “undermines the whole Reconciliation process.”
“Why Insulin Price Cap for Private Insurers Won’t Be in Reconciliation Bill”
The dems are masters at putting “poison pill” items into legislation then making political hay when the other side objects to the bill. I have no doubt this is a similar item.
Except that in this case, a ‘clean bill’ just capping insulin prices was also introduced a while back – and it passed but Republicans were largely against it (Yes: 220 D’s + 12 R’s, No: 193 R’s).
https://clerk.house.gov/Votes/2022102
There is a ‘bipartisan’ version in the Senate now, co-sponsored by Susan Collins, but it hasn’t had much Republican support beyond Collins yet, with McConnell silent on it. I think the outcry over this improves that bill’s chances, but we’ll see.
The federal gov has no jurisdiction to effect insulin prices.
NEXT!
You have no coherent understanding of any part of this issue.
I understand this is a nonissue. Is that coherent enough of a proposition, Stalinista?
Go play outside!
Didn’t you say you were never coming back here?
Then explain to us, enlighten us, educate us, make some kind of point, anything other than just being an arrogant little man.
I’m old enough to remember America at least pretended not to lick the tailpipe of socialism. This shitshow is centralized planning gone amok and those assholes in Regress line their pockets via this ‘backdoor’ taxation.
You know this but have become fully-vested in your servitude.
Ask yourself, do you want the dotgov involved with something as f king simple as insulin? Because that’s precisely how you get profit margins of ~3,000%.
Anyone willing to dress in Injun drag and toss insulin into Bahstan Harbor? Cuz I’m down like Joe Biteme’s approval rating!
This has nothing to do with socialism, dimwit.
This is croney capitalism, and lack of enforcement against price fixing schemes.
There are three manufacturers that dominant the insulin market in the US. They use donations to corrupt politicians and complicit administrations to maintain a regulatory regime that prevents competitors from starting up in or entering the US market.
These companies have also decided to stop competing with each other on prices and just price match each other upwards.
And given who has been blockers to efforts to reign in insulin profiteering most of the corrupt fucks are on the right. Hell, they just gave you their names by voting against an effort to reign in prices. Both sides are complicit with the corruption that has led to medical costs in the US, but republicans have made it clear they are overwhelmingly in the pockets of pharma.
If this was socialism insulin would be about $15 a vial.
Oh, we agree on this!!!:
but the income tax rate for the median wage would be 60%. Asshole.
Calling this system ‘crony capitalism’ is like calling you a man. It is a blend of corporation and state, i.e. not free market, i.e. not capitalism, i.e. socialism, i.e. the precursor of fascist communism.
Eat a big bag of dicks and choke on every single one.
Roh-dog, you should not keep your feelings bottled up. Let us know how you really feel😎
Thanks, BC D. My parole officer and therapist both said I should express myself more.
It is amusing to me to beat the bush to flush the red diaper baby snakes.
It’s like Shave-And-A-Haircut…
Have a great day. 🇺🇸
And you a better one!!
Traitor Lars talkin’ up his socialist utopia.
Fucking disgrace.
Incorrect response. They voted against this entire bill, as that is the only way voting is allowed. This was a part of that monstrosity, so they voted against the entire thing. Not just part of it about insulin. Don’t you grasp that?
If people don’t like the insulin they need being unaffordable, they should file a class action law suit in a suitable blue leaning court and they could then get something done about it.
If this was socialism, only the political elite would have insulin.
Voting against the entire bill was a good thing. The socialist dems included this to help ensure republicans would look bad when they refused to go along with all the other pork in this monstrosity.
Yep! Nailed it. The Kongress Klowne Kritters will take care of their donors because the donors take care of the Kritters. Remember when the whole line item veto was talked about? Nipped that in the bud right fast, didn’t they.
Not insulin related but just google “Joe Manchin daughter” for a similar story about his daughter, her company, and how epi-pens shot up from $100 to over $600. 😷