Since the Democrats have taken control of the House, the word around town is that Nanci Pelosi is going to shake things up. First on her itinerary, to allow Medicare to negotiate with drug manufactures the price of it purchases its prescription medication. Although this should bring the cost of Medicare down, will this lofty goal ever materialize?
Recently, the United States House of Representatives passed a bill with a vote of 255 to 170. If that bill becomes a law, this would allow drug prices to be negotiated by the Secretary of Health and Human Services.
Opponents of the bill argue that interference with the current system will decrease the amount of competition in the market, driving current prices even higher.
While both sides battle it out, the consumers are stuck in the middle, destined to pay the high, ever-increasing cost of prescription drugs that is rising at more than double the rate of inflation.
Will the bill make it through and take away the high cost healthcare burden placed upon senior citizens and the beneficiaries of Medicare? No. Odds are the bill will not make it passed the veto promised by the president. As goedwardsville.com points out, “we hope it will at least allow (not necessarily mandate) for price negotiation on the part of the federal government, in the event private insurers and manufacturers fail the public's trust and prices continue to skyrocket. ”
goedwardsville.com also points out that a recent Kaiser report states that 80 percent of Americans favor allowing price negotiations with prescription drug manufacturers in order to drive down the cost of Medicare.
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