No. Obamacare isn’t killing the insurance industry. In fact WellCare’s stock is up 1,410% since 2009.Cigna 1,113%. Humana 1,010%. UnitedHealth 814%. Aetna 628%. These are FOR PROFIT companies. I just think healthcare no longer needs to be for profit for anything life-sustaining. Diabetes, just go to your doctor, figure out your prescription dosage, get your insulin, take it, you live. Breast augmentation or sex change surgery is elective. You can continue to live with the wrong gender. I do not mind elective/cosmetic procedures incurring profit.
Big case in point with the lifesaving vs. profit, Medicare BY LAW cannot negotiate drug prices. $1100 per dose of chemotherapy. Medicare has to pay it. Even with a $500 per dose chemo agent showing the same outcome results. In fact chemo was 42% of Medicare’s budget in 2014. Medicare cannot tell your physician which chemo you should have. But the reimbursement rate to physician’s offices & outpatient clinics is currently a percentage of the cost of the medication. So a $10 medication would see the clinic making ~$0.60. An equivalent drug with the same outcomes that cost $1,000 would make the clinic ~$60. Medicare is looking at ways to change this so that clinics would look at using cheaper medications with equivalent outcomes.
One lifesaving medication I have to have is an EpiPen because of an allergen that I might get exposure to at work. In the UK a similar device costs $68. Here in the US the current cost is $600+. EpiPen has ~94% of the market share in the US. The CEO of the company has been called before Congress to be questioned about the price. Honestly my plan for when they expire is to get some needles & pre-fill 2 syringes with the right amount of Epinephrine (~$5 per vial). Someone can just push the plunger manually. That’s over 1/3 of a take home paycheck for me that I wouldn’t have to give those corporate goblins.
Enough ranting. I am going to shut up now.