He showed up to get his monthly drug and he showed me a photo its beyond me why Insurance Companies financial incentives it strikes me it is illegal. I have a little bit of Additional Information that gets to that point here. Okay. So you laid out the speciality tiering as you stated supervisor wiener they may violate the Affordable Health care act provisions for protecting people that have preexisting conditions and maybe discriminatory and for patient it puts a substantial financial strain on people and the costs cannot can be unexpected may be a person needs a drug for a disease and its on a stoplight tier the health plan changed the policy and the cost increased dramatically as youve stated cost effects whether a person can afford their diner or medication theyll probably buy the food they need and this gets to your other point buyouts action of plan for plan the initiation of treatment with initiation of treatment for diseases coming sooner and in the stance of chronic deceased th
Insurance plan. This is important one conversation we were having in the community there are people that opt for the high digestible plans and find the dedublt are noted manageable were ask them to go to a silver plan were talking about spll silver plans having drugs that are effectively unaffordable for people thats a real problem. Absolutely and i didnt mention when i was talking about the unexpected nature of the health costs brauj plans you pay a lower amount but the minute you need health care it is far more expensive 2, 3, 4 a baggage plan the cost sharing for speciality plans can be 40 percent of the cost for drugs so what that table shows the proportion of the plans for all the drugs in a specified class into the tier for hiv medications they looked at medications broken covering medications for example 29 percent of the plans for all probable cause terrors and 60 percent of plans put the cancer medications into a stoplight column it is nationwide issue a study was done in spec
Thats out paigdz our efforts as mentioned in the presentation before me those costs of drugs are set by manufacturers upon drugs launched to the market once drugs o are on the market those prices set the prices for payers and manufacturers increase the price annually. Prices increases for and speciality drugs on the market are seen at 11 to 13 percent annually compared to the cost of living index of 1230 percent speciality drugs as mentioned are increasing at 20 to thirty percent announcing and more than 50 percent of the drugs are speciality drugs many of the drugs require long term and it is okay to place lower drugs. Could you speak directly into the microphone. Towards you. One example of the newer drug used to treat high cholesterol is a drug inhibit our their expended to cost 150 billion a year and to be the highest drugs in history estimated 270 billion in drugs expected to spend on drug in 2015 the cost per patient is 10 and 15,000 and it is not a onetime drug a drug youll take
Cost medication i think more of the issues are being seen oral medication that dont require special handling or special knowledge by the patient. So basically an Insurance Companies will say this drug is extensive so youre going to have to pay 40 percent of the drug costs. Thats right its not just health plans but the means to an end has the same definition. It is like baffling i suspect im preaching to the choir to say shocking that Insurance Companies you think you buy insurance so our covered and then all of a sudden i mean literally someone be sent me a photo with a Cash Register and he showed up to get his monthly drug and he showed me a photo its beyond me why Insurance Companies financial incentives it strikes me it is illegal. I have a little bit of Additional Information that gets to that point here. Okay. So you laid out the speciality tiering as you stated supervisor wiener they may violate the Affordable Health care act provisions for protecting people that have preexisting
Tom coburn and kelly ayotte. As well as patty murray. This is about 40 minutes. Something significant happened. I am from oklahoma. David green and his wife started a group called hobby lobby by making picture frames in their garage. With the profits they made, it was his faith and practice in his daytoday decisions that led him and his family to build a successful nationwide company. Over the years, the business has grown. 602 stores now with plans to expand. They have an annual revenue of upwards of 2. 5 billion. David has had success despite the countercultural way. All of the Retail Stores closed at 8 p. M. Each night and all day on sunday so will use spend time with their families. By thes is appreciated some 16,000 employees who are paid above the minimum wage. Benefitbby generous plan includes an onsite clinic and eligibility to enroll in medical, dental, and Prescription Drug lands tom and longterm disability and longterm insurance in a 401 k plan. This is something that they h