Millions lose coverage

[Flopper]

n return for those millions spent on promoting Obamacare, big pharma gets the privilege of spending even more money. Lots more money. For starters, the drugmakers must provide higher rebates to Medicaid for prescription drugs. This expanded rebate program will cost the industry around $20 billion over the next 10 years.

Pharmaceutical companies must also pay new excise taxes on branded drugs. Those taxes amounted to $5.3 billion over the past two years. By 2021, the cumulative total for the new taxes will top $30 billion. Since the amount a given company must pay is based on its percentage of total drug sales in the previous year, big pharma will pay the biggest bucks with this tax.

Filling part of the Medicare Part D "doughnut hole" will cost another $30 billion. Pharma companies must discount prices by 50% to senior citizens who reach the level of spending where this coverage gap exists. The grand total price tag for all of these new taxes, fees, and rebates for the industry over the next 10 years comes in at $80 billion. After helping to derail HillaryCare in the 1990s, were the folks at Pfizer, J&J, and other big pharmaceutical companies crazy to jump aboard Obamacare?

- Is Obamacare a Disaster Waiting to Happen for Big Pharma? -- The Motley Fool

Now we all know the pharma isn't paying that bill yea? $80b over 10 yrs, all to be paid by the patients. And it was unfeasible /before/ ACA taxed the bloody fuck out of pharma. It was the ticking time bomb of ACA and we pretty much knew it from the beginning. As the investor says: "My hunch is that big pharma might have gotten a better return on that $150 million spent on promoting Obamacare from another investment -- like maybe developing new and improved drugs."

Sorry, but I really can't feel sorry for big pharma with an average profit margin of over 20%, twice that of the average S&P500 company and profits of over 85 billion a year.

Nothing stops drug companies from charging the highest price the market will bear. They have increased their prices 208% in 8 years The FDA encourages it and their 20 year patents protect them from competition. The result, prices that make little sense, but lots of profits.
Why Prescription Drugs Cost So Much - AARP

Maybe Congress can help with better "amortization" for R&D costs.

The last thing we need is more tax breaks and protection for drug companies. 20 years of patent protection of brand name drugs and banning completion from abroad have made US drug prices the highest in the world and has resulted in enormous profits for drug companies.

Of course, drug companies need to recover their R&D cost but why do Americans have to bear about 90% of those costs while most other countries pay almost nothing. If the FDA allowed distributors and pharmacy chains to buy the brand name, not generics, the exact same drug you get at your drug store manufactured by the same company abroad, the cost of brand name drugs would go down by 50% in the US and would rise in the rest of the world.

 

[EverCurious]

The last thing we need is more tax breaks and protection for drug companies. 20 years of patent protection of brand name drugs and banning completion from abroad have made US drug prices the highest in the world and has resulted in enormous profits for drug companies.

Of course, drug companies need to recover their R&D cost but why do Americans have to bear about 90% of those costs while most other countries pay almost nothing. If the FDA allowed distributors and pharmacy chains to buy the brand name, not generics, the exact same drug you get at your drug store manufactured by the same company abroad, the cost of brand name drugs would go down by 50% in the US and would rise in the rest of the world.

Because most other countries are socialist, and socialist countries don't even pay for their actual costs much less pay for innovations like R&D, because socialism is a failed economic reality.

You are essentially saying that pharma shouldn't be allowed to recoup any of their average of $2.6B investment on the R&D of new drugs.

 

[Flopper]

The last thing we need is more tax breaks and protection for drug companies. 20 years of patent protection of brand name drugs and banning completion from abroad have made US drug prices the highest in the world and has resulted in enormous profits for drug companies.

Of course, drug companies need to recover their R&D cost but why do Americans have to bear about 90% of those costs while most other countries pay almost nothing. If the FDA allowed distributors and pharmacy chains to buy the brand name, not generics, the exact same drug you get at your drug store manufactured by the same company abroad, the cost of brand name drugs would go down by 50% in the US and would rise in the rest of the world.

Because most other countries are socialist, and socialist countries don't even pay for their actual costs much less pay for innovations like R&D, because socialism is a failed economic reality.

You are essentially saying that pharma shouldn't be allowed to recoup any of their average of $2.6B investment on the R&D of new drugs.

No, I'm fine with them recouping their R&D costs, as long America isn't paying the whole cost for the whole world. Americans are being royally screwed by drug companies and the FDA. This year I bought an Advair Diskus 250/50 inhaler and paid $310 at Target. The same exact product in same box manufactured by the same company is available in the UK for $135US and in Canada for $95US. You think that's fair?

 

[EverCurious]

The last thing we need is more tax breaks and protection for drug companies. 20 years of patent protection of brand name drugs and banning completion from abroad have made US drug prices the highest in the world and has resulted in enormous profits for drug companies.

Of course, drug companies need to recover their R&D cost but why do Americans have to bear about 90% of those costs while most other countries pay almost nothing. If the FDA allowed distributors and pharmacy chains to buy the brand name, not generics, the exact same drug you get at your drug store manufactured by the same company abroad, the cost of brand name drugs would go down by 50% in the US and would rise in the rest of the world.

Because most other countries are socialist, and socialist countries don't even pay for their actual costs much less pay for innovations like R&D, because socialism is a failed economic reality.

You are essentially saying that pharma shouldn't be allowed to recoup any of their average of $2.6B investment on the R&D of new drugs.

No, I'm fine with them recouping their R&D costs, as long America isn't paying the whole cost for the whole world. Americans are being royally screwed by drug companies and the FDA. This year I bought an Advair Diskus 250/50 inhaler and paid $310 at Target. The same exact product in same box manufactured by the same company is available in the UK for $135US and in Canada for $95US. You think that's fair?

What part of "part of how they are paying for ACA is through taxes on pharma" did you miss earlier? (Or did I note that in a different thread?) ACA taxes pharma, it also cuts what they are allowed to charge seniors (over 65) for their drugs (you know when most people are on long term medication...) on top of chronically underpaying for drugs (at /minimum/ by 6%) for over a decade.

Pharma is losing their ass right now - ACA has slit their throat to pay for American's health insurance - not even their medical care mind you, just to pay for the middle man insurance (who are also refusing to play the game with ACA you notice, because it's a scam and financially impossible.)

 

[danielpalos]

Sanders: How can you call it 'reform' when millions will lose insurance?

Nice one repubs, good luck with your pile of shit.

/--- it was ok for folks to lose their coverage under Obozocare. That was done with compassion

Did people actually lose all coverage or only the coverage they used to have, that was actually replaced, with something else.

Unlike, right wing, almost vaporware.

 

[danielpalos]

Sanders: How can you call it 'reform' when millions will lose insurance?

Nice one repubs, good luck with your pile of shit.

Looks like the liberal who started this fake thread, is still refusing to change the title despite being debunked time and again. He's apparently still obeying his mentor Dr. Goebbels, who said that if you tell a big enough lie, often enough, people will believe it.

It's the usual leftist fib. No one's losing anything.

The Obamacare law that forced everybody to sign up whether they wanted to or not, is gone now. Everybody can remain signed up to whatever they had before if they want to, no one loses anything.

But at least the leftist hysterics were able to take advantage of their own lie to call names and falsely accuse Republicans even more.

this is what happened the first time;

The initial version of the AHCA received a grim review by the CBO, which estimated that, while it would ultimately trim money from the federal deficit, it would leave 24 million people uninsured over the next 10 years.

That measure was pulled from consideration in March amid dwindling support from Republicans.

What did the republicans do to fix that?

 

[danielpalos]

Yes I am pissed off. I've gone my entire adult life, almost 30 years, specifically hating health insurance as the total ripoff scam and waste it is. Now the federal government is trying to tell me that I /must/ have something I hate and do not need, and further that I have to pay for every other smuck bag that didn't plan their shit out to pay their own god damn insurance bills - or medical bills as the case may be.

I have /never/ not paid a medical bill - even when my husband hit a moose at 65 and broke his fucking neck - roughly $12k, paid out of pocket no fucking problem. It is not /my/ fault that you other assholes are underacheivers who can't plan for your own medical expenses. I don't want to pay for you, nor the illegals who pour over our fucking border and abuse our EMTALA thus driving up the medical costs.

I'm sick of idiots blaming everyone else for the problems they cause themselves. I don't want illegals, I don't want welfare so why the fuck should I have to pay for it? Oh because what? Living in the soon to be socialist failure of the US is such a fucking privilege as the freeloading liberals take away more and more prosperity and tax my kind more and more to pay for their shitty ass utopian free shit society (which they sell only to get votes) the whole process disgusts me... Slightly off topic perhaps but it's all god damn related...

you really just need a full body massage with happy ending.

don't worry. you are Only paying for the drug war. other people on the right are paying those costs for you. there, does that make you feel better.

 

[EverCurious]

Yes I am pissed off. I've gone my entire adult life, almost 30 years, specifically hating health insurance as the total ripoff scam and waste it is. Now the federal government is trying to tell me that I /must/ have something I hate and do not need, and further that I have to pay for every other smuck bag that didn't plan their shit out to pay their own god damn insurance bills - or medical bills as the case may be.

I have /never/ not paid a medical bill - even when my husband hit a moose at 65 and broke his fucking neck - roughly $12k, paid out of pocket no fucking problem. It is not /my/ fault that you other assholes are underacheivers who can't plan for your own medical expenses. I don't want to pay for you, nor the illegals who pour over our fucking border and abuse our EMTALA thus driving up the medical costs.

I'm sick of idiots blaming everyone else for the problems they cause themselves. I don't want illegals, I don't want welfare so why the fuck should I have to pay for it? Oh because what? Living in the soon to be socialist failure of the US is such a fucking privilege as the freeloading liberals take away more and more prosperity and tax my kind more and more to pay for their shitty ass utopian free shit society (which they sell only to get votes) the whole process disgusts me... Slightly off topic perhaps but it's all god damn related...

you really just need a full body massage with happy ending.

don't worry. you are Only paying for the drug war. other people on the right are paying those costs for you. there, does that make you feel better.

Fuck that, I don't like being touched unless it's ending in a rainbow; handshakes make me see red - literary...

Anyway, go ahead and break it down for me I have the perfect example; I spent a grand on new glasses last month because I left mine in Vegas, what did someone else pay for me?

 

[danielpalos]

Yes I am pissed off. I've gone my entire adult life, almost 30 years, specifically hating health insurance as the total ripoff scam and waste it is. Now the federal government is trying to tell me that I /must/ have something I hate and do not need, and further that I have to pay for every other smuck bag that didn't plan their shit out to pay their own god damn insurance bills - or medical bills as the case may be.

I have /never/ not paid a medical bill - even when my husband hit a moose at 65 and broke his fucking neck - roughly $12k, paid out of pocket no fucking problem. It is not /my/ fault that you other assholes are underacheivers who can't plan for your own medical expenses. I don't want to pay for you, nor the illegals who pour over our fucking border and abuse our EMTALA thus driving up the medical costs.

I'm sick of idiots blaming everyone else for the problems they cause themselves. I don't want illegals, I don't want welfare so why the fuck should I have to pay for it? Oh because what? Living in the soon to be socialist failure of the US is such a fucking privilege as the freeloading liberals take away more and more prosperity and tax my kind more and more to pay for their shitty ass utopian free shit society (which they sell only to get votes) the whole process disgusts me... Slightly off topic perhaps but it's all god damn related...

you really just need a full body massage with happy ending.

don't worry. you are Only paying for the drug war. other people on the right are paying those costs for you. there, does that make you feel better.

Fuck that, I don't like being touched unless it's ending in a rainbow; handshakes make me see red - literary...

Anyway, go ahead and break it down for me I have the perfect example; I spent a grand on new glasses last month because I left mine in Vegas, what did someone else pay for me?

since You are Only paying for the drug war; everything else from the government is paid for by everyone else.

 

[Flopper]

The last thing we need is more tax breaks and protection for drug companies. 20 years of patent protection of brand name drugs and banning completion from abroad have made US drug prices the highest in the world and has resulted in enormous profits for drug companies.

Of course, drug companies need to recover their R&D cost but why do Americans have to bear about 90% of those costs while most other countries pay almost nothing. If the FDA allowed distributors and pharmacy chains to buy the brand name, not generics, the exact same drug you get at your drug store manufactured by the same company abroad, the cost of brand name drugs would go down by 50% in the US and would rise in the rest of the world.

Because most other countries are socialist, and socialist countries don't even pay for their actual costs much less pay for innovations like R&D, because socialism is a failed economic reality.

You are essentially saying that pharma shouldn't be allowed to recoup any of their average of $2.6B investment on the R&D of new drugs.

No, I'm fine with them recouping their R&D costs, as long America isn't paying the whole cost for the whole world. Americans are being royally screwed by drug companies and the FDA. This year I bought an Advair Diskus 250/50 inhaler and paid $310 at Target. The same exact product in same box manufactured by the same company is available in the UK for $135US and in Canada for $95US. You think that's fair?

What part of "part of how they are paying for ACA is through taxes on pharma" did you miss earlier? (Or did I note that in a different thread?) ACA taxes pharma, it also cuts what they are allowed to charge seniors (over 65) for their drugs (you know when most people are on long term medication...) on top of chronically underpaying for drugs (at /minimum/ by 6%) for over a decade.

Pharma is losing their ass right now - ACA has slit their throat to pay for American's health insurance - not even their medical care mind you, just to pay for the middle man insurance (who are also refusing to play the game with ACA you notice, because it's a scam and financially impossible.)

With a 11.3% increase in prices last year and 11.7% this year, big pharma will recover ever cent of those taxes and increase their profit margins. Having no completion to hold prices down, they can raise them to whatever the market will bear and they are certainly doing it.

 

[EverCurious]

The last thing we need is more tax breaks and protection for drug companies. 20 years of patent protection of brand name drugs and banning completion from abroad have made US drug prices the highest in the world and has resulted in enormous profits for drug companies.

Of course, drug companies need to recover their R&D cost but why do Americans have to bear about 90% of those costs while most other countries pay almost nothing. If the FDA allowed distributors and pharmacy chains to buy the brand name, not generics, the exact same drug you get at your drug store manufactured by the same company abroad, the cost of brand name drugs would go down by 50% in the US and would rise in the rest of the world.

Because most other countries are socialist, and socialist countries don't even pay for their actual costs much less pay for innovations like R&D, because socialism is a failed economic reality.

You are essentially saying that pharma shouldn't be allowed to recoup any of their average of $2.6B investment on the R&D of new drugs.

No, I'm fine with them recouping their R&D costs, as long America isn't paying the whole cost for the whole world. Americans are being royally screwed by drug companies and the FDA. This year I bought an Advair Diskus 250/50 inhaler and paid $310 at Target. The same exact product in same box manufactured by the same company is available in the UK for $135US and in Canada for $95US. You think that's fair?

What part of "part of how they are paying for ACA is through taxes on pharma" did you miss earlier? (Or did I note that in a different thread?) ACA taxes pharma, it also cuts what they are allowed to charge seniors (over 65) for their drugs (you know when most people are on long term medication...) on top of chronically underpaying for drugs (at /minimum/ by 6%) for over a decade.

Pharma is losing their ass right now - ACA has slit their throat to pay for American's health insurance - not even their medical care mind you, just to pay for the middle man insurance (who are also refusing to play the game with ACA you notice, because it's a scam and financially impossible.)

With a 11.3% increase in prices last year and 11.7% this year, big pharma will recover ever cent of those taxes and increase their profit margins. Having no completion to hold prices down, they can raise them to whatever the market will bear and they are certainly doing it.

Again. It is irresponsible for a company, especially pharma, to operate on the profit they have. Even the biggest ones are seriously like one lab failure from going under. I wish profit sheets allowed some way to show folks "reserves required for down times." In that business they should have like probably 5 years operating costs in reserve, they probably couldn't even weather one year...

(Used to put that under "cash assets" but I never see it anymore)

 

[Flopper]

The last thing we need is more tax breaks and protection for drug companies. 20 years of patent protection of brand name drugs and banning completion from abroad have made US drug prices the highest in the world and has resulted in enormous profits for drug companies.

Of course, drug companies need to recover their R&D cost but why do Americans have to bear about 90% of those costs while most other countries pay almost nothing. If the FDA allowed distributors and pharmacy chains to buy the brand name, not generics, the exact same drug you get at your drug store manufactured by the same company abroad, the cost of brand name drugs would go down by 50% in the US and would rise in the rest of the world.

Because most other countries are socialist, and socialist countries don't even pay for their actual costs much less pay for innovations like R&D, because socialism is a failed economic reality.

You are essentially saying that pharma shouldn't be allowed to recoup any of their average of $2.6B investment on the R&D of new drugs.

No, I'm fine with them recouping their R&D costs, as long America isn't paying the whole cost for the whole world. Americans are being royally screwed by drug companies and the FDA. This year I bought an Advair Diskus 250/50 inhaler and paid $310 at Target. The same exact product in same box manufactured by the same company is available in the UK for $135US and in Canada for $95US. You think that's fair?

What part of "part of how they are paying for ACA is through taxes on pharma" did you miss earlier? (Or did I note that in a different thread?) ACA taxes pharma, it also cuts what they are allowed to charge seniors (over 65) for their drugs (you know when most people are on long term medication...) on top of chronically underpaying for drugs (at /minimum/ by 6%) for over a decade.

Pharma is losing their ass right now - ACA has slit their throat to pay for American's health insurance - not even their medical care mind you, just to pay for the middle man insurance (who are also refusing to play the game with ACA you notice, because it's a scam and financially impossible.)

With a 11.3% increase in prices last year and 11.7% this year, big pharma will recover ever cent of those taxes and increase their profit margins. Having no completion to hold prices down, they can raise them to whatever the market will bear and they are certainly doing it.

Again. It is irresponsible for a company, especially pharma, to operate on the profit they have. Even the biggest ones are seriously like one lab failure from going under. I wish profit sheets allowed some way to show folks "reserves required for down times." In that business they should have like probably 5 years operating costs in reserve, they probably couldn't even weather one year...

(Used to put that under "cash assets" but I never see it anymore)

Down times? Big Pharma doesn't lose money

• Johnson and Johnson, has not lost a dine in at least 25 years and raised their dividend ever year.
• Novartis has never lost money since it was founded.
• Pfiser has earned a profit for at least 15 years and has had increasing earnings for at least 12 years.
• Merck has earned a profit for 27 consecutive years, increasing earnings 21 of those years.
• GlaxoSmithKline has earned a profit every year since it's founding in 2000

 

[EverCurious]

I suspect you've not investigated your claims Flopper.

First, /no/ business is supposed to lose money, if they do then they go under. (save some government - aka America - stepping in to bail their asses out.)

That said, again, you do not operate a business with zero profit, you keep enough in the bank to pay for oh shits. I gave the Pfizer financial reports in post #503 in this thread and they were down 3% this year, was 4% last year (don't recall before that.) They are operating at a /dangerous/ profit level for emergencies right now. When you're operating costs for a year are around $40B and all you've got in the bank is $7B you're in deep shit... One fucking country deciding to "fuck them over" (like America does by only letting them charge 50% on medicines for those over 65 years old when people buy the most drugs, for example) could /very/ easily wipe them out. They couldn't even get through the year if, ya know, like France just did their elections and were to adopt the American version of "fuck you rich people." No way they'd be able to float for 7 months, so they'd have to dump R&D (which ultimately means American's losing jobs heh) If they're not investing in R&D then ya won't be getting all the fricking awesome new drugs they're coming out with (yes in part help with government grants and tax credits, but not enough to cover the costs which, again, are up 148%)

 

[depotoo]

Coverage may be unaffordable for low-wage workers
This is about Obamacare

Sanders: How can you call it 'reform' when millions will lose insurance?

Nice one repubs, good luck with your pile of shit.

 

[Flopper]

I suspect you've not investigated your claims Flopper.

First, /no/ business is supposed to lose money, if they do then they go under. (save some government - aka America - stepping in to bail their asses out.)

That said, again, you do not operate a business with zero profit, you keep enough in the bank to pay for oh shits. I gave the Pfizer financial reports in post #503 in this thread and they were down 3% this year, was 4% last year (don't recall before that.) They are operating at a /dangerous/ profit level for emergencies right now. When you're operating costs for a year are around $40B and all you've got in the bank is $7B you're in deep shit... One fucking country deciding to "fuck them over" (like America does by only letting them charge 50% on medicines for those over 65 years old when people buy the most drugs, for example) could /very/ easily wipe them out. They couldn't even get through the year if, ya know, like France just did their elections and were to adopt the American version of "fuck you rich people." No way they'd be able to float for 7 months, so they'd have to dump R&D (which ultimately means American's losing jobs heh) If they're not investing in R&D then ya won't be getting all the fricking awesome new drugs they're coming out with (yes in part help with government grants and tax credits, but not enough to cover the costs which, again, are up 148%)

Dangerous profit level? You mean they may actually lose money for the first time in 25 years, not gonna happen.

Phizer net income for the first quarter 2017 is 3.1 billion dollars, 3% above first quarter 2016. You call this a dangerous profit level. Phizer has earned a substantial net income for over 25 years. There cumulative earnings over the period is over 278 billion dollars. There net profit margin for 2016 fell to 14% but was still in top 20% of S&P500. They are also sitting on 39 billion in current assets. Big Pharma does not lose money. Year after they poor mouth about drugs coming off patent, increased costs, trial delays, and taxes. However the fact is they are among the most profitable businesses in the country and will remain so with 20 year patent protection limiting competition in the US and congress limiting completion from abroad.

PFIZER REPORTS FIRST-QUARTER 2017 RESULTS | Pfizer Pharmaceutical News and Media | Pfizer: the world's largest research-based pharmaceutical company
Income Statement for Pfizer Inc (PFE) from Morningstar.com

 

[charwin95]

1. Uninsured people, or people who fucking don't pay? I'm uninsured, but I pay my damn bills.
2. Waahhhh. Fuck off.
3. I pay my bills kiss off. Illegals shouldn't be using our fucking shit, they should be deported. I'd go under, and I'd sue the clients for not paying, if I got the money out of them okay, if not like all businesses I'd have to fucking suck it up because no one would ever come to my rescue with magic money out of nowhere. Part of the risk of doing business, sometimes you get your clock fucking cleaned - thus why a good deal of the "rich" in this nation go broke. I lost two businesses myself (not bankrupt, one I broke my wrist and couldn't' continue, the second my clients went under so that was that. I lost about $50k, just poof no more oops - no one helped, no one gave a shit cause that's the way it is in business.)

My dear. The world is not about fuck this and fuck that. If most or all Americans think like you then this country will be so fucked up as it is.

1. Un insured people like you and illegals are the one screwing our system. What happened if you or other people used up all their savings and can no longer afford let say continuous treatment of chemotherapy or dialysis? Dialysis is about $53k to $72k a year then multiply that to how many years. There goes your house and your savings. Transplant is around $280k and that is just the xplant. Diabetes, cancer etc etc etc------ Go bankrupt then ER as your primary care? I'm honored that you pay your bills.
2 & 3. Fuck off? I'm not here to convince you how to manage your your health care but it bothers me how you display your irresponsible arrogance.
I sense anger, frustration and stress. Stress also affects your mitosis process --------- cells reproduce or die prematurely. Your are 40s our organs and body deteriorate and will not work efficiently as we get older. Let see how tough you are 5 to 10 years from now.

Alaska is the fourth highest share of population that lacked health insurance. And third as the highest crime rate.

Only a fool would trust insurance companies or even the concept to back someone up, the whole concept of insurance as fucked up as is paying into a pool...
never trust the collective

Another uninsured citizen. You can afford to armed yourself to the teeth with massive arsenals in your basement but you don't have health insurance. What's up with that?
All you've got to do is give up one of your Apache AH-64 or M109A6 Paladin howitzer.

Your buddy Trump is pushing for health care. Are you saying your god is a fool?

I don't care to pay for something that might happen, forcing someone to do that is legalized extortion. Insurance is not healthcare and insurance does not make life better.

If you are waiting for apocalypse or civil war yes. Sorry it's not going to happen. But you might get sick before that from inhaling all those gun powders. Now what your gonna do?

 

[charwin95]

It would be patently irresponsible for an insurance company to /not/ carry profit enough to handle running their business in a down turn.

Again - 208% increase in prices and there was a 148% increase in the cost of developing a drug for market, they were forced to give a 50% discount on drugs for every American over 65 (Can you say baby boomers?) On top of that they were taxed. That's $80 Billion they have to make up for in the 10 years after ACA's passage to even break /even/ - not even to make a profit, but to break even.

Seriously read the financial report of a pharma before you complain about their bottom line. Take Pfizer, check their stock write up - Pfizer Inc. They break even and they're not even spending that much on research and development (because they can't afford to, that means no new drugs not a good thing at all.)

Here more in depth - Pfizer Income Statement for 2016, 2015 - Amigobulls -- They're bringing in 40B and their net profit is 7B. They couldn't even weather a single bad year right now, they don't have the reserves (which come out of profits.) They are in deeep shit financially despite your idea that they're making money hand over fist, they are actually operating with such a dangerously low reserve (profit) that they could go under at the slightest drop of a hat.

Check this shit out - PFE Income Statement Compare 2013 to 2016... They're spending their reserves to pay for ACA's cuts into their profit - expect them to have to raise prices again because they're down like 3% since last year and it's only going to get worse...

Even with the ACA tax on drug manufactures, the top 10 drug companies had profits ranging from a low 4.47 billion to a high 15.94 billion in 2016. If republicans are successful, the drug companies can look for a tax cut that will add 30 billion more to profits. It looks like 2017 drug company prices will increase by 11.7% beating their record 11.3% increase in 2016. With no chance of legislation to allow Medicare, the largest purchaser of drugs to negotiate prices, no real completion in the brand name market, and insurance company formulates increasing coverage, prices will just go up and up as will insurance premiums.

It's none of your business who makes what…

It becomes my business if I have to pay for your health care every time you go to ER.

 

[Rustic]

It would be patently irresponsible for an insurance company to /not/ carry profit enough to handle running their business in a down turn.

Again - 208% increase in prices and there was a 148% increase in the cost of developing a drug for market, they were forced to give a 50% discount on drugs for every American over 65 (Can you say baby boomers?) On top of that they were taxed. That's $80 Billion they have to make up for in the 10 years after ACA's passage to even break /even/ - not even to make a profit, but to break even.

Seriously read the financial report of a pharma before you complain about their bottom line. Take Pfizer, check their stock write up - Pfizer Inc. They break even and they're not even spending that much on research and development (because they can't afford to, that means no new drugs not a good thing at all.)

Here more in depth - Pfizer Income Statement for 2016, 2015 - Amigobulls -- They're bringing in 40B and their net profit is 7B. They couldn't even weather a single bad year right now, they don't have the reserves (which come out of profits.) They are in deeep shit financially despite your idea that they're making money hand over fist, they are actually operating with such a dangerously low reserve (profit) that they could go under at the slightest drop of a hat.

Check this shit out - PFE Income Statement Compare 2013 to 2016... They're spending their reserves to pay for ACA's cuts into their profit - expect them to have to raise prices again because they're down like 3% since last year and it's only going to get worse...

Even with the ACA tax on drug manufactures, the top 10 drug companies had profits ranging from a low 4.47 billion to a high 15.94 billion in 2016. If republicans are successful, the drug companies can look for a tax cut that will add 30 billion more to profits. It looks like 2017 drug company prices will increase by 11.7% beating their record 11.3% increase in 2016. With no chance of legislation to allow Medicare, the largest purchaser of drugs to negotiate prices, no real completion in the brand name market, and insurance company formulates increasing coverage, prices will just go up and up as will insurance premiums.

It's none of your business who makes what…

It becomes my business if I have to pay for your health care every time you go to ER.

Sorry to disappoint ya, never had to go to the ER.

 

[charwin95]

Also those were meant as reply to charwin95 but I forgot to tag them cause I'm irritated by the "whats yours is mine" crap. I spent my entire life planning for my retirement, planning for the lifestyle that /I/ wanted to have. The left wants to take more and more from me. It's stealing and it chased my friends out of the country. I don't want to leave the US because I love what America was when I was growing up - but the left is destroying it by greed and it irks me...

Post #504 just incase you got lost.

Are you fucking telling me the left are taking your money? Are you telling me that only the left are pushing health care insurance? Are you telling these so-called conservative do not have health insurance like you? Are you telling me that only the left own the health insurance business?

Your arrogance and irresponsible is just incredibly unbelievable.

 

[charwin95]

It would be patently irresponsible for an insurance company to /not/ carry profit enough to handle running their business in a down turn.

Again - 208% increase in prices and there was a 148% increase in the cost of developing a drug for market, they were forced to give a 50% discount on drugs for every American over 65 (Can you say baby boomers?) On top of that they were taxed. That's $80 Billion they have to make up for in the 10 years after ACA's passage to even break /even/ - not even to make a profit, but to break even.

Seriously read the financial report of a pharma before you complain about their bottom line. Take Pfizer, check their stock write up - Pfizer Inc. They break even and they're not even spending that much on research and development (because they can't afford to, that means no new drugs not a good thing at all.)

Here more in depth - Pfizer Income Statement for 2016, 2015 - Amigobulls -- They're bringing in 40B and their net profit is 7B. They couldn't even weather a single bad year right now, they don't have the reserves (which come out of profits.) They are in deeep shit financially despite your idea that they're making money hand over fist, they are actually operating with such a dangerously low reserve (profit) that they could go under at the slightest drop of a hat.

Check this shit out - PFE Income Statement Compare 2013 to 2016... They're spending their reserves to pay for ACA's cuts into their profit - expect them to have to raise prices again because they're down like 3% since last year and it's only going to get worse...

Even with the ACA tax on drug manufactures, the top 10 drug companies had profits ranging from a low 4.47 billion to a high 15.94 billion in 2016. If republicans are successful, the drug companies can look for a tax cut that will add 30 billion more to profits. It looks like 2017 drug company prices will increase by 11.7% beating their record 11.3% increase in 2016. With no chance of legislation to allow Medicare, the largest purchaser of drugs to negotiate prices, no real completion in the brand name market, and insurance company formulates increasing coverage, prices will just go up and up as will insurance premiums.

It's none of your business who makes what…

It becomes my business if I have to pay for your health care every time you go to ER.

Sorry to disappoint ya, never had to go to the ER.

Consider yourself lucky Rust. I'm sure you have family that you should be considering.