We give them trillions and they return billions

[SHRED]

How is this a turning point?
Doesn't Obama realize that people are dying as I type this and it is big pharma and corporate insurance that is killing them??

Where is the public plan we all need and have earned?


Obama praises drug deal, declares 'turning point'

13 hours ago

WASHINGTON (AP) — President Barack Obama praised the agreement that has been reached between Sen. Max Baucus and the nation's pharmaceutical companies intended to reduce costs of prescription drugs for millions of America's seniors.

He said the nation is at "a turning point" in the nation's efforts to change health care.

Obama praised the Montana Democrat Saturday for the deal to extend discounts on prescription drugs to millions of seniors who currently are subjected to heavy out-of-pocket expenses in the yearly amounts they pay for medication.

Baucus has been negotiating with numerous industry groups for weeks as he tries to draft legislation that meets Obama's goals.

Baucus' announcement said drug companies would pay half of the cost of brand-name drugs for seniors in the so-called doughnut hole — a gap in coverage that is a feature of many of the plans providing prescription coverage under Medicare.

http://www.google.com/hostednews/ap/article/ALeqM5joDnB-KhxNGD7A9yh1fOdWhpKhwAD98UOQT80

[angstlessk]

1. that's IT 1/2 the out of pocket during the donut hole???

screw them...give us a total discount on all drugs so we will have more to provide the public option...this saves the government NOTHING...NADA ZILCH

[SHRED]

2. It is sickening

And even more sickening that our President views it as a "turning point".

So we have the bailouts taking our tax dollars and giving them to the finance criminals and it appears we will now have the same happening for big pharma and the health insurance vipers.

[WillowTree]

3. For many, this will do exactly nothing.

It doesn't reduce what they will have to pay out-of-pocket for their medications, it will just take longer to fill the gap.

In other words, the "donut hole" amount will still be $2,850/year, but during whatever period the person is in that gap, the drug which previously cost them $100 will now cost them $50. So if his drug regimen would previously have kept him in the "donut hole" for three months, it will now take 6 months to get through the gap before Part D will kick back in again because the drug companies will be reducing the price by 50%.......but note, only for brand-named drugs. Generics apparently are excluded from this provision. The only benefit I can see to the patient in this is that it will spread the out-of-pocket expense out because he or she won't have to shell-out as much at any one time as they would have before.

Interesting thing about this "turning point" change in the Part D provisions, though, if you think about it. There would be some savings to folks whose Rx expenses are such that they enter the "hole", but will no longer be high enough to exceed the entire gap. But it also saves Medicare because Part D won't kick back in again. But for each Medicare beneficiary who passes all the way through the "donut hole" during the year, it will cost the pharmaceutical companies $1,425, but saves the patient nothing. Nada. Not one red cent. All of the savings go to.......Medicare. Slick little bit of sleight-of-hand, that.

[elehhhhna]

4. Baucus' buddies paid him $2,500.00 (each) this weekend for access & he cut this "deal". THANKS.

A Reel-y Good Time for Fishing and Fundraising

By Alan K. Ota, CQ Staff
Senate Finance Chairman Max Baucus plans to take a break from the grind of crafting a health care overhaul to serve as a Democratic rainmaker with a few of his friends along the Madison, Gallatin and Yellowstone rivers in Montana this weekend.

Lobbyists and political supporters will get their chance to cast fishing lines and drive golf balls with the Senate’s top tax writer at his Fly-Fishing & Golfing in Big Sky event. The cost is $2,500 per person, $5,000 for a political action committee. And for the same price, more fun lies ahead at Camp Baucus, the summer camp he holds for friends and their families in his home state between July 31 and Aug. 2.

Advocates of public financing of elections — such as Craig Holman, a lobbyist for Public Citizen — say lucrative parties like the Baucus events give special interests undue influence over legislation.

“It’s unseemly to be doing this just before the markup,” said Holman, referring to pending committee action on Baucus’ draft health care bill. “This kind of schmoozing of lawmakers clearly buys influence. This kind of event clearly shows why we need public financing.”

Baucus brushed aside the criticism. “There’s no problem,” he said. “I’ve been doing these events for more than 10 years.” Baucus said he did not know how many contributors would be attending.

http://www.cqpolitics.com/wmspage.cfm?parm1=5&docID=news-000003148680