Jared S. Hopkins

speaker

109 appearances 3 recordings 1 series first heard Jan 2020 last heard Nov 2024

Jared S. Hopkins’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Why Some Seniors Are Paying Different Prices for the Same Drug Under Medicare · 26 Nov 2024 podcast

Usually you can go to another plan, but that's usually once a year when Medicare enrollment rolls around.

And also just because you go into a plan one time, the cost of the drugs out of pocket to a senior could change the next year.

WSJ Your Money Briefing · Your Money, Your Vote: Making Healthcare More Affordable · 6 Oct 2024 podcast

So how much time do you have?

So by the time you get to your pharmacy counter and you go get this, there's a number of transactions that have gone on to bring the cost of the drug down.

to a price that might be $5, $20 from maybe $1,000 at the list price.

And these various parties that are involved are buying and selling the drug essentially before it gets done to the patient.

And that includes the insurance company, that it could include a pharmacy benefit manager.

There are wholesalers, which sort of move the drug and ship the drug.

And then there's pharmacies.

And the pharmacy purchases the drug and gets reimbursed for the drug.

There's a lot of people involved, yet it is the average consumer, the average patient who is often paying more as time goes on.

They're seeing higher out-of-pocket costs.

Prescription drug spending is going up in the United States and continues to go up.

The president has the ability to issue executive orders, and that can have a desired effect on drug pricings.

For example, President Trump did some executive orders related to drug pricing.

One of them was so that drug prices would be the same price in the U.S.

as they are in other countries.

It's what's called a sort of most favored nation order.

President Trump also had something called the rebate rule, which basically drug companies give rebates to pharmacy benefit managers who are the middlemen that manage prescription drug benefits.

Those rebates help get drug companies coverage of their prescription drugs.

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