Exploring what s behind the rising costs of prescription medicine
Due to the rising costs of prescription medication, families are being forced to choose between paying their bills or purchasing medicine they need.
and last updated 2021-03-09 19:19:36-05
(WXYZ) â Due to the rising costs of prescription medication, families are being forced to choose between paying their bills or purchasing medicine they need.
Fifteen years ago, 6 percent of overall health care expense was spent on prescription drugs. Today itâs at over 22 percent.
In the midst of the pandemic, the AARP says big drug companies raised prices on hundreds of medications, including those commonly used in intensive care units and drugs being used to treat COVID-19.
Kahle testifies for bill to require health insurance to count medication coupons toward plan deductible
The Daily Telegram
LANSING A bill to help lower prescription costs by requiring health insurance to count drug coupons toward a patient’s out-of-pocket costs or plan deductible was given a hearing Thursday with the Michigan House Health Policy Committee, according to a news release Friday.
House Bill 4353, is part of a 15-bill health care plan introduced Feb. 24 and is sponsored by state Rep. Bronna Kahle, R-Adrian.
Drug manufacturers often issue coupons to help patients with their out-of-pocket costs, according to a news release from Kahle’s office, but many health plans and health benefit middlemen say that the coupons undercut their ability to manage costs and steer patients to make cost-effective choices and many health plans prohibit the value of the coupon from applying toward a patient’s deductible.
Associated Press
LANSING, Mich. (AP) A Republican legislative leader and other lawmakers on Wednesday unveiled bipartisan measures they said are designed to lower prescription drug prices, bring parity in insurance coverage of chemotherapy and improve the quality of health care.
The sweeping 15-bill package would, among other things, regulate pharmacy benefit managers that run prescription drug coverage for insurers and employers, and ban the “middlemen” PBMs from profiting by charging a health plan and their enrollees more than what is paid to the dispensing pharmacy. Three managers dominate the U.S. market: CVS Health’s Caremark business, UnitedHealth’s OptumRx and Cigna’s recently acquired Express Scripts.
Michigan lawmakers unveil sweeping, bipartisan health care plan
A new bipartisan bill endeavors to improve access to healthcare and lower drug prices.
and last updated 2021-02-24 22:33:38-05
LANSING, Mich. â Michigan lawmakers unveiled a sweeping, bipartisan plan to cut costs of health care for patients and increase accessibility.
âThis is an opportunity to make real profound change for the people of this state, and to make Michigan the leader in the nation in health care reform,â Michigan House Speaker Rep. Jason Wentworth, R-Farwell said.
A group of state reps introduced the legislative package Wednesday, that among other things, would cap the monthly cost of insulin, expand telehealth services and cut out the prescription middleman.
Michigan lawmakers unveil bills to curb health care costs
By DAVID EGGERTFebruary 25, 2021 GMT
LANSING, Mich. (AP) A Republican legislative leader and other lawmakers on Wednesday unveiled bipartisan measures they said are designed to lower prescription drug prices, bring parity in insurance coverage of chemotherapy and improve the quality of health care.
The sweeping 15-bill package would, among other things, regulate pharmacy benefit managers that run prescription drug coverage for insurers and employers, and ban the “middlemen” PBMs from profiting by charging a health plan and their enrollees more than what is paid to the dispensing pharmacy. Three managers dominate the U.S. market: CVS Health’s Caremark business, UnitedHealth’s OptumRx and Cigna’s recently acquired Express Scripts.