Sunday, September 18, 2016

Price gouging on insulin is a thing, too

Remember the EpiPen price gouging story I posted not long ago?  It's funny, when I posted the story I said, "It's not related to diabetes."  But now that EpiPen prices have attracted such widespread attention, people have now brought up how much the cost of insulin has risen in recent years, too.

The EpiPen wasn't alone: Price gouging on insulin draws outrage

The rise in prices on insulin probably isn't quite as dramatic as the rise in EpiPen prices -- 200 percent on insulin, according to the Journal of the American Medical Association, contrasted with more like 500 percent on the EpiPen, but it's still a serious increase that we absolutely should be questioning.
Take, for instance, Lantus, which is a long-acting insulin that a great many diabetics are on, considering it's one of the only long-acting insulins on the market.  Between 2010 and 2015, the price of Lantus rose a whopping 168 percent -- over a space of only five years!

A lot of diabetics never actually see or feel the effects of such price gouging, since they only pay a copay for their medicine.  Their copays or premiums may go up, but they don't see the breakdown of why, or necessarily even know that the cost of their insulin is rising that rapidly.

But for the diabetics who don't have health insurance, the rapid rise of prices is a major problem.  Everyone blames Obamacare, but of course that's bullshit, since prices are substantially lower in Europe and other places where socialized healthcare is standard practice.  I personally think the medical industry is price gouging us on purpose to try to generate public outrage against Obamacare, in the hopes that people will put pressure on Washington to overturn it.

We need to get our health care system under control in this country so that this kind of thing is no longer a problem.

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