Why the Obama administration is giving up on affordable prescription drugs
- by admin
It was a bad idea.
It was cruel.
It has never worked.
But the Obama Administration has agreed to allow the companies to bring back their old drugs that were once the lifeblood of the Affordable Care Act, in exchange for some of the government’s most basic financial incentives.
The White House and the Food and Drug Administration have agreed to the deal, a major step toward ensuring that the health care law’s cost-sharing reductions, or COVID-19 funding, will be paid for.
The accord will allow the government to pay about $5 billion annually for COVID drugs, and to provide other benefits, such as the right to refinance loans for patients with high medical bills, to keep the payments flowing.
The administration’s plan is one of the most significant in years, as the administration tries to revive its once-bustling COVID treatment market.
But it is still an imperfect solution to a much bigger problem.
The deal represents a dramatic reversal for the administration, which has faced criticism for failing to adequately explain the deal to the public and Congress.
The agency has also drawn criticism for not doing more to address the COVID pandemic, which began in late February and has killed at least 1,065 people.
The agreement will allow companies to continue making COVID medications that have already been approved by the Food, Drug and Cosmetic Act, or FDA.
But those drugs will also be subject to a different set of regulations, which would affect how they are marketed and used.
The companies will also have to set up a new, private COVID testing program to ensure that the drugs are safe for consumers and that the companies have a strong track record.
The government is not the only entity that has been left holding the bag.
Many states and health care groups are also opposed to the proposal.
“The plan is really an admission that they failed, and that they really did not have the resources to fix this,” said Andrew Cherkasov, a senior fellow at the conservative American Enterprise Institute.
“It’s a huge setback for the whole ACA.”
But the deal has drawn praise from some of those who supported the bill, who argue that it will help the agency avoid a costly shutdown that would have required millions of federal workers to work.
“I think it’s a great deal,” said Steve Stavins, chief executive of the American Academy of Actuaries, which represents drugmakers.
“They’re going to get the money back.”
But many of the same critics have also voiced concern that the proposal will only serve to drive up costs for the companies.
The plan “is not going to solve the problem,” said William Ruckelshaus, a professor of economics at the University of California, Berkeley.
“We need to fix the problem.”
The proposal “will only serve the drug industry, not the public,” he said.
“When you’re talking about COVID, and it’s very costly to treat, you want to get everybody covered.”
But experts say that will not happen, at least not quickly enough to stop the pandemic.
The federal government has spent more than $10 billion on COVID treatments so far.
The cost has climbed as the coronavirus epidemic has grown, with more than 7 million Americans having COVID symptoms, according to the Centers for Disease Control and Prevention.
The U.S. has spent $5.5 billion on treatment for patients who are already sick, and another $3 billion on people who have symptoms but are not showing any signs of COVID.
The costs have been rising at a faster rate than the costs of other illnesses, including HIV and other sexually transmitted infections.
But experts agree that even if the government could bring back all the drugs that the drug companies were forced to sell off, the overall cost of care would still be high.
The total cost of COV-19 has exceeded $1 trillion, and the cost of the current pandemic has surpassed $600 billion.
A more effective approach is needed to get rid of the pandemics virus, said Peter Munk, a co-director of the University at Buffalo’s Center for Health Security, which focuses on public health.
The current system of government subsidies and incentives to companies to produce COVID therapies is working.
But Munk said the current system has been slow to catch up to the pandemia.
The COVID vaccine was made in a limited number of factories, and there are still a lot of manufacturing plants that are not producing the vaccine.
The vaccine is also being produced at a much higher rate than it should be, and in some cases, the companies are not making enough vaccines.
“What we need is a much more efficient system, and one that’s designed to deal with the pandemaker,” he added.
But even with the new COVID funding, the cost for patients and their families will likely be higher than the cost to the government.
The proposed deal is still in the early stages of negotiation.
But one thing is
It was a bad idea.It was cruel.It has never worked.But the Obama Administration has agreed to allow the companies to…