My chemotherapy bill is $30,000 per treatment and my insurance pays for $8600 of it, the rest the clinic must write off since I have met my maximum out of pocket and am no longer required to pay my $50 co-payment.
Yesterday morning, I watched this CBS This Morning feature on the cost of cancer drugs in the US. It was basically a synopsis of this 60 minutes feature, well worth watching:
Key takeaways from this video:
- 14.5 million people alive in the USA are diagnosed with cancer.
- Average cost of a new cancer drug is $100,000 per year.
- The drug companies set their own prices.
- Private insurance companies, including those available through the health insurance marketplace, set their own payment threshold.
- MEDICARE is NOT ALLOWED to negotiate due to current laws.
This is the way it has been for decades. Nothing has changed in recent years, except perhaps, the companies are getting greedier.
Here is a novel idea, how about we all tell congress, you know the men and women we elected to represent us, that we want medicare to NEGOTIATE drug prices. This will save the USA millions and millions of dollars each year!! Tell congress we are tired of lobbyists dictating our national expenditures.
November 15th open enrollment begins for the Health Insurance Marketplace. If you do not have insurance, do not let a negative stigma that you may feel towards the nickname that has been given to the healthcare law. Get your family insured! Trust me, it’s a lot cheaper than paying $30,000 per treatment if you end up with breast cancer.