Medicare Part D, Big PHARMA, Crestor & The Doughnut Hole. America Ripping Off It's Senior Citizens

There's a big difference between $494.08 and $127.80 when it comes to 90 20mg Crestor tablets.

I'm writing this article about Medicare Part D's over pricing of Crestor, but the same is true of countless other drugs. I'm not asking you to take my word, just go to Canada Drugs and compare what you're paying for your prescriptions here in the USA to the price you would pay in Canada.

Here in the good old USA, crony capitalist society, 90 20mg Crestor tablets cost $494.08 and in Canada, where healthcare is taken seriously and Canadians aren't trying to screw their citizens and/or their senior citizen, so big PHARMA and the insurance companies can make big bucks, 90 20mg Crestor tablets cost $127.80.

In 2011 Medicare Part D started paying for half of brand name formulary drugs when folks enter the doughnut hole, but paying half of over inflated brand name formulary prescriptions can mean paying twice as much as the prescription is worth. It's nothing but greedy profiteering at the expense of America's senior citizens and America's senior citizens don't seem to have a clue.

August 14, 2012 my wife partially entered the Medicare Part D doughnut hole and her share of a 90 20mg Crestor tablet refill was $226.44 and Medicare Part D paid $267.64. Her next 90 20mg Crestor tablet refill will cost $247.04 and Medicare Part D will pay the other half $247.04. Big f*?king deal. I can get the 90 20mg Crestor tablets in Canada for $127.80.

United Health Care Medicare Part D Cost For 90 20mg Crestor tablets $494.08.

 

Canada Drugs Cost For 90 20mg Crestor Tablets $127.80. Note, you can get generic Crestor in Canada.

The Facts about Health Care Reform and the Medicare Retiree Drug Subsidy

The Medicare Modernization Act of 2003 (MMA) created an out patient prescription drug benefit (known as MedicarePartD). The law included a subsidy for employers who provide retiree drug benefits at least equal in value to the Part D benefits. The subsidy was intended as an incentive for employers to continue to provide benefits.

The subsidy reimbursed employers 28percent of the cost of actual spending on prescription drugs for Medicare eligible retirees.

The subsidy was provided tax free. The cost of providing retiree prescription drug benefits was already tax deductible. So,employers could deduct the total cost of their retiree drug plans, plus get a subsidy, and not have to pay any taxes on the subsidy. For example, an employer who paid out $100 million in retiree drug benefits would qualify for a $28million subsidy. The Company’’s real expenses were only $72 million in benefits, but it was able to deduct the full $100 million from its taxable income.

The Medicare Prescription Drug and Modernization Act of 2003, in my opinion, was designed to help employers move their retirees off of company funded prescription drug plans they had promised their retirees for years to Medicare Part D and in turn the employers got tax subsidies and the retired employees got the shaft Medicare Part D and a terrible prescription drug plan. To put this in very simple terms: Employers shifted their prescription drug plan cost to their retired employees.

This is what my employer, Michelin, did to me.

Michelin Press Release December 15, 2005
Michelin North America is modifying its prescription drug plans for part of its retiree base in the United States. Recently announced changes to the U.S. government Medicare program –– specifically, the introduction of Part D prescription drug coverage –– have permitted Michelin North America to offset a portion of the dramatic increases in prescription drug costs and further strengthen Michelin’’s global competitive position.

The modifications Michelin North America has made to its prescription drug plans will be effective Jan. 1, 2006, and already have been fully communicated to Michelin’’s affected U.S. retirees. These changes will result in a $ 476 million (€€ 380.6 million∗) reduction in the Group’’s projected benefit obligation (PBO) and in Michelin realizing in its consolidated accounts a gain before taxes of $ 317 million (€€ 253.5 million*) in its 2005 results. In addition, Michelin North America will realize in 2006 annual savings in benefits-related costs in the United States of an estimated $ 37 million (€€ 30 million*).

With these new measures, Michelin North America continues to fine-tune the balance between the healthcare needs of its U.S. employees, retirees and their dependents and the requirement to remain fully competitive in the global marketplace.

This wasn't what I was promised during my 30 plus years at American Synthetic Rubber Corporation (a subsidiary of Michelin), but it's what I ended up with. A Medicare Part D bull$hit prescription drug plan that lines the pockets of the insurance companies, big PHARMA, and corporate America leaving my pockets empty.

Medicare Prescription Drug and Modernization Act of 2003 is 415 pages of bull$hit that only  a big PHARMA and corporate lobbyist could understand and I suspect they understand it because they wrote it. How else could you get legislation with doughnut holes, over priced drugs and tax subsidies for their rich pals and screw America's retired workers all at the same time?

So what's the difference between $494.08 and $127.80? Well when you get on Medicare Part D you'll know the difference and you'll be pissed just like I am. My advice. Don't get sick!

Oh, by the way the corporate goons in Washington, DC, our corporate owned Representatives, are working 24/7 to keep us from getting our prescriptions filled in Canada and keep the money flowing to their big PHARMA masters.

RxRights.org
Section 708 of the new FDA Safety and Innovation Act (S. 3187) gives government agencies the authority to seize and destroy prescription drugs that are imported for personal use.

We are calling on our supporters to let the Obama Administration know how you feel about this unfair regulation.

This provision was clearly crafted by big drug companies at the expense of public health. It has no business being a part of the FDA bill. Over a million Americans each year rely on importation to access their vital medicines at prices they can afford.

I guess I'll see how this works when I get my wife's prescription filled at Canada Drugs. Stay tuned.

Medicare Prescription Drug and Modernization Act of 2003

Medicare Prescription Drug and Modernization Act of 2003

 

 

Go to KY State Page
origin Blog: 
origin Author: 
Comments Count: 
0
Showing 0 comments