Cost Of Care Hits Many Americans, Even As Insured Rates Hit Highs
A Stateline report notes that many citizens have policies that only provide limited financial protection, such that many patients forgo necessary care to avoid difficult out-of-pocket costs. Meanwhile, the New York Times investigates how insurers "exploited" Medicare for billions in profits.
Stateline:
Many Patients Can't Afford Health Costs Even With Insurance
The number of Americans with health insurance has climbed to historic highs during the COVID-19 pandemic, but within that silver lining is a darker hue. Many Americans have policies that only provide limited financial protection, to the point that many patients report forgoing needed medical care or prescriptions to avoid being hit with punishing out-of-pocket costs. (Ollove, 10/7)
More on the high cost of health care —
The New York Times:
‘The Cash Monster Was Insatiable’: How Insurers Exploited Medicare for Billions
A New York Times review of dozens of fraud lawsuits, inspector general audits and investigations by watchdogs shows how major health insurers exploited the program to inflate their profits by billions of dollars. (Abelson and Sanger-Katz, 10/8)
The Wall Street Journal:
Why A $158,000 Drug With Unclear Benefits Hurts Whole Health System
Like many patients suffering from amyotrophic lateral sclerosis, or ALS—also known as Lou Gehrig’s disease—Layne Oliff didn’t have any time to waste. Even before the drug Relyvrio was approved late last month by the Food and Drug Administration, he has had his own do-it-yourself method: He gets sodium phenylbutyrate in liquid form from a New Jersey pharmacy and taurursodiol online from Amazon. That costs him over $7,000 a year, but he says it has been well worth it because he feels the combination has helped stabilize a disease that often causes death within a few years. (Wainer, 10/10)
USA Today:
Medicare Part D Drug Prices Vary Widely Between States
New data from the Medicare startup Chapter shows the cost of prescriptions can vary widely from one state to another and even from one zip code to another. For seniors with chronic medical conditions, a difference in geography could mean paying thousands of dollars more per year out-of-pocket for the same medicine. (Wedell, 10/9)
In related news —
Dallas Morning News:
CVS Counters Texas ‘Tampon Tax’ With 25% Off Of Menstrual Products
CVS Health will reduce the cost of its branded menstrual products by 25% in Texas to offset a state “tampon tax.” The price reduction will occur in 12 states where the company said it can legally pay on behalf of the consumer. CVS Health will also partner with national organizations working to eliminate taxes on menstrual products in some two dozen other states, the company said. (Skores, 10/11)
The New York Times:
‘A New Frontier’ For Hearing Aids
The world of hearing health will change on Oct. 17, when the Food and Drug Administration’s new regulations, announced in August, will make quality hearing aids an over-the-counter product. It just won’t transform as quickly or as dramatically, at least at first, as advocates, technology and consumer electronics companies and people with mild to moderate hearing loss have been hoping. (Span, 10/10)
