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RE: I just don't believe them. Why do you?

Comment a comment by Barry (Occams), published on 28 March 2009
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I am in my late 50s and I remember what you describe.

At least, not under my mother’s policy from Prudential that her employer paid for.

Don’t you see that insurance only hides the problem? It makes us pay in a less painful way. That health cover from your mother’s employer was part of a package, and in lieu of salary. It probably cost her more than the full price of all the medications she received that way.

Actually, according to this list, less than half of the top 50 (the top 30 being “Big Pharma”) are in the US; and of the top 10, only 4 are. So many equates to 13 of the top 30, and 22 of the top 50; at least in 2006.

Well the mechanism I described should work just as well on the people who live wherever the pharmaceutical companies are based. If 40% of the top ten (is that by market- share, shareholder nationality, or profitability?) are American companies then it is appropriate that we should take a large share of the pain. Probably this should be more than 40% because the USA is the likely to be most influential country in bringing this out-of- control market back to order.

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RE: I just don't believe them. Why do you? by ldsudduth :: NR6

It probably cost her more than the full price of all the medications she received that way.

You’re probably right, considering that we used it exactly twice for meds—once when I broke a collar bone, and once when she had a bunion removed from her foot. Other than that, I had stitches twice, and it paid for the ambulance and ER when my father died.

Personally, in almost 30 years I have never used my insurance other than for a few antibiotics and albuterol inhalers on the two occasions I’ve had bronchitis. Other than that, it’s only used for annual doctor visits. Now, my son’s case was a different matter. His care cost nearly $150,000; so I can say beyond a shadow of a doubt that I’ve not paid more in cost that I’ve used. I don’t use pain killers stronger than over-the counter Naproxin Sodium. I don’t like feeling out of control; hence I don’t touch stronger meds. It’s exactly why I don’t drink to excess or do drugs.

That health cover from your mother’s employer was part of a package, and in lieu of salary.

This comment made me think a bit. Some time ago (back in 2006) I posted this about teachers pay in a community here in PA. With the School District picking up 93% of the cost of health care, you make a valid case. If it were being paid for though another source (and we reformed the industry), it might lead to higher wages; I think you might be on to something there.

My wife and I have talked..and wonder if it would be a better industry if both Hospitals and Insurance companies were not-for profit entities. Some Hospitals are (notably ones attached to religious entities), but not all. If they were to become ‘non-profit’ and divert those funds to research and teaching…who knows. Insurance companies on the other hand; I’m not certain what they would do with their excess funds; just hope it wouldn’t go into CEO pockets.

If 40% of the top ten (is that by market- share, shareholder nationality, or profitability?

The list was sorted by profits.

Posted 28 March 2009, Hide, Parent, Reply

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