Big Pharma’s Greed Is Killing American Citizens



A few days ago, I got a notification from
CVS pharmacy letting me know that my daughter's a prescription for her. A steroid asthma inhaler was ready for pickup. It is a 60 day supply, or excuse me, 60 puff
supply mental last 30 days. One of the one puff in the morning, one puff
in the evening. And the reason I'm telling you this story
is because my daughter has to be on that inhaler in order to avoid some of the worst complications
of her asthma. It's pretty bad right now. Uh, for her age, CVS and notification let
me know that that prescription was almost $400 for one month's supply of her inhaler,
nearly $400 I have health insurance. I have had health insurance through my employer
for well over a decade now. When I first started getting her this prescription
three years ago, it was $50 a month and no, we had not met the deductible at the time. It was just $50 a month today, $400 a month. My own inhalers are $300 a month. EpiPens for my daughter and my son who both
have peanut allergies, $650 a piece, and the kicker there is that they expire after nine
months, so you're guaranteed to basically always have to buy two per kid per year for
a grand total. For those keeping count at home, $650 a piece,
$1,300 a pop twice a year, $2,600 just on EpiPens that we pray we never even have to
use. I've never had to use one. I throw them in the trash like I'm supposed
to when they expire and that's basically throwing money away. Now these are just me, my prescriptions for
my family, and again, we have had health insurance. My kids have had health insurance every single
day of their lives. Millions of people in this country do not
have health insurance show that $400 inhaler for me might be $700 for them. Maybe they can find a coupon, but here's the
kicker on a lot of coupons, and I don't think people realize this, and I know because I've
used them. That's a one and done thing. Most of these coupons, if you read the fine
print, they actually say that you can only use this once in your lifetime. Now it might be good for a full 12 months,
but then after that you could never use it again ever. That's how they rope you in. But the point is millions of people in this
country, and I'm one of them, we can't afford our, our, our prescription drugs. Even if we have health insurance. It is insane what's happening with the pharmaceutical
industry today. As we have pointed out, as brave members of
Congress, including AOC, have pointed out, uh, we're already paying for the development
of these prescription drugs. The majority of the funding for prescription
drug research and development actually comes from taxpayers in the forms of grants from
the federal government. We're already paying for them. We already paid for them. We made them okay and then they turn around
and do this crap to us, charging us the highest percentage markups of any country on the planet. And they tell us, they lie to us and tell
us that they have to do it because they have to recoup their cost of research and development. The truth is they have to recoup their cost
of advertising prior to lifting the ban on direct to consumer advertising, Americans
did not pay these markups for prescription drugs. We simply didn't. They didn't exist back before insurance companies
went sideways and started screwing people over. Any prescription you got would be $5 for generic,
$10 for name brand because you were on a, uh, a copay system instead of a deductible
system. Go to the doctor was $20 every time. Now, this wasn't necessarily every single
person, but it was most of them. But then insurance companies realized they
could make more money putting you on the deductible system. Oh, we don't pay a dime or we only pay 10%
until you've paid $6,000 out of pocket. And then we'll cover half. And then when you hit $9,000 out of pocket,
then everything is free. But keep in mind, you have to pay $9,000 out
of pocket after you're all so paying $300 per month to have this. So you're really paying $12,600 out of pocket
and at that point, once you've paid that much, everything is free. That is exactly what my current insurance
plan is and I can only use myself as an example because I only know my numbers. I only know what my plan is, but I'm willing
to bet I'm not the only one. And I do know that as a country, yes we pay
higher markups than any one else. And at this point, given what we know about
pharmaceutical markups and who actually pays for R and D and what they're actually trying
to get their money back for the advertising, given what we've seen from insurance companies,
given the astronomical price of services from hospital corporations, there is one solution,
only one solution and that is Medicare for All. That is the only thing we can do at this point. And for me personally in a presidential candidate
for 2020 I will not accept anything less than that. That's the bottom line. That's the deal breaker. Do you support Medicare for All yes or no? If the answer is yes, great. We can continue the conversation. If the answer is no, thank you for your time. Have a good day. I wish you nothing but the best, but get out
of my sight. That's where we're at as a country and I know
I'm not the only one who feels that way.

31 comments

  1. For profit insurance is the stupidest idea ever. We essentially give a company guaranteed business and then they attempt to screw you out of your money whenever you make a claim. What exactly are you buying with the money you pay to insurance companies? Insurance should be nationalized to ensure that it serves the purpose it was intended for: to provide relief in an emergency situation. These companies are stealing from us, and our worthless elected officials are letting it happen.

    Abolish for profit insurance.

  2. Trump emboldens fraud.
    Trump is a product of the college fraud.
    Trump proves fraud pays and he'll protect them.

  3. Ask the Republicans and trump to fix the problem, that is why supporters voted them in office. They won't help us. Greed and greedy billionaires 👹 keep every cent for themselves!

  4. It seems the only values is greed and war in this nation. Weapons and Profit, nothing else counts. Not education, killing students with student loans, not housing the taxes and evil bank practice and damn not healthcare. I am tired of people saying support the troops with their damn mouths and no action. When the troops come home and if they are injured they get nothing to help them. We pay most of our money to weapons, to the military. There should not be organization to help troops, it should be the damn Government, because they sacrifice their lives for the damn government. Support the Troops for real and provide adequate healthcare.

  5. In my country people dont pay anything if its permanent ilness, we dont pay the doctor anything the hospital is free, they will treat any ilness they can, its all paid through tax, and i will bet the doctors are cheaper than the one in the US…

  6. Guess who doesn't support Medicare for all? Corporate Joe Biden of course. He's a Republican in a Democratic candidates clothing. Bernie is for Medicare for all. But the MSM seems to be pushing for Biden for some reason? Well said Farron. Medicare for all should be the focus in this election. Just say no to Corporate Uncle Joe. He's a creepy hair sniffer anyways lol! Bernie 2020!

  7. This is why Universal Healthcare is so important! Big Healthcare and Big Pharma have gotten out of control in America. American healthcare is rife with greed, and corrupt to the core. Government involvement is needed at this point. And guess which candidate is one of the only Democrats that isn't for Universal Healthcare? "Corporate Joe Biden," of course. Biden has become the mascot of Corporate America's greed and lack of empathy for the common person. Just say no to Corporate Creepy Uncle Joe! Bernie 2020!

  8. Thank you for this video, Farron. I, too, have the same problem with my prescription meds, including the epipen. Also, suddenly, my insurance company wont pay anything for my much needed Restasis prescription ($600/3 mos), which the insurance company tells me I can use over the counter eyedrops. Apparently, the advisory boards of these insurance companies know more than our physicians.

  9. I've been a pharmacy tech for 15 years and I remember when Epi-Pens were relatively inexpensive. Now I work in a health insurance company doing prior authorization reviews on IV admin meds and those are truly outrageously expensive. I see drugs now that are routinely over $10,000 a month and some that are $700,000 a year. It's insane and I often have a hard time imaging how people can pay co-insurances on some of these drugs. I would be bankrupt or going without.

  10. The Federal government funded the creation of the EpiPen. If it chooses to do so, it could void the patent and declare the EpiPen design to be in the public domain, free for any company to manufacture.
    It could. It should.

  11. Sorry Farron, I like your show very much but you are wrong in one regard. If somehow Joe Biden is the candidate then we all need to support him. Look, as a 56 year old man who is struggling week to week I would love Medicare For All. But, as a voter, I know we need to rid ourselves of these horrible republikkkans first and foremost. We cannot have a group of Millennials pouting again and refusing to vote because Bernie got screwed again. It's because of them who didn't vote last time that we now have where we are. But to say full stop that it is "Medicare for All or I don't come out to vote" is worse than voting for the monster who is already in "The People's House". Moderate President with a Progressive Congress might work well together.

  12. This is the corporatocracy we have; we grant charters to corporations with no questions asked about their interest or lack thereof in the larger community that supports them. This was not always so, the first corporations were considered part of the government with strictly limited charters that were revocable for bad behavior and the people behind the corporate veil were personally liable for their misdeeds. No longer. The kind of charters we foolishly give out and our lack of oversight has allowed corporations to amass more wealth than nations, with which they have essentially bought up political control for their own profits. Even the courts are in their pockets. Besides the cartelized price agreements, health insurance doctors are now withholding needed drugs if you refuse testing they think you should have, even if they know you are unable to foot the copays for further testing and treatment. This situation with corporations is not going to improve anytime soon. They now have the money, the power, most of the media, and most of the government including the judicial system, even a good part of our philosophical beliefs, in their back pockets. Things are only going to get worse, for workers, for voters, for our environment, for generations to come … basically everything will get worse.

  13. Profiting off the pain of another is despicable on its face. Big American Pharma is yet another disgrace & symptom of a failed nation.

  14. Your first step to reduce drug prices would be to federally mandate the removal of advertising for prescription drugs to consumers.
    Then introduce Medicare for once the drug companies are out of the way medical expenses will come down.

  15. 0:29 i have asthma myself though fortunately i only need to take medication on an as needed basis when i have difficulty breathing

  16. Why I don’t have insurance. It’s the same either way. I’m disabled. Can’t work but have too high social security check for Medicaid. Guess we’re all in the same boat right now. A few years ago I had insurance because it was worth it. 9 thousand out of pocket is most of my yearly income and half my husbands income. To meet the deductible for each of us, we’d be left with less than rent money. Screw that!

  17. I have a prescription that is over 3000 a month, but I have an organization that helps me with both my insurance and my prescriptions because I have a very particular health problem. If I didn't have it, I couldn't afford health insurance or medications.

  18. Sorry hear the way phamaceutical companies swindling public.
    Man we need to fight tooth and nail

  19. I have private insurance through my husband's job & Medicare for inpatient services. My doctor appointments copay is $70. I go every month. My prescriptions are $350 every month. Last month I had to go to the ER. I was in the ER for 12 hours. I had a CT, MRI & an ultrasound. I saw 4 doctors in that time, all of whom told me different diagnoses, each one scarier than the last. At midnight I was transferred from my local hospital to one across town, by ambulance. I spent another 12 hours there & was 3 more doctors & one more scan. I had numerous blood draws for tests. I left without a diagnosis, without any treatment & over $1200 poorer. Now I can't afford my monthly doctor's appointment or my medicatiins, plus I need to see a specialist. Medicare for all cannot be ushered in soon enough!

  20. Steroidal inhalers (such as Advair) are a bit of a racket. They give you a coupon good for a month's supply. You take it for a month and discover that you are now dependent on the stuff. Try to quit and you discover that you are sicker than ever because you have stopped making as much of the hormones the Advair mimics. Now you have to pay whatever they want to charge.

  21. Worth pointing out that the patents on all these drugs have expired.

    The EpiPen and Advair inhaler are available generic but hardly any knows. They are still overpriced, but are cheaper. When congress prohibited Medicare from negotiating drug pricing , it became clear that congress was in bed with big pharma and not looking out for the American people.

    I’m all for Medicare for all.

  22. I was supposed to have an Epipen for a possible reaction to medication I was getting by IV. I never bought it. Too much money. I figured I wouldn't have a reaction and bet my life on it. That's what happens, too.

  23. Epipen in Toronto, Canada is $100

    Mafia can smuggle $100 Billion in Cocaine

    Why not a few Epipens from Canada ?

    Not suggesting
    Just ASKING a Question

  24. Medical care is more expensive in America because Americans do not value life. We only value the wealth of rich people and large corporations.

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