Sen. Elizabeth Warren has acknowledged that ObamaCare has led to increased healthcare prices and unintended consequences, including industry consolidation and price increases.
The leftist raised concerns about vertically-integrated health care companies hiking prescription drug costs and evading federal regulations.
Warren and Sen. Mike Braun have complained about the nation’s largest health insurers dodging ObamaCare’s medical loss ratio. (Trending: Biden Shamefully Removes God From National Address)
Donald Trump failed to repeal Obamacare, but he's once again threatening to rip away health care from millions of Americans. It's dangerous & must be rejected. How do we lower health costs? By taking on giant corporations who rig the system —exactly what the Biden admin's doing. pic.twitter.com/m8lGsEwaX8
— Elizabeth Warren (@SenWarren) November 28, 2023
“In functioning markets, generic drugs cost 80 to 85 percent less than their name-brand equivalents, giving patients much-needed relief from high drug costs and saving taxpayer dollars,” Warren wrote.
“But patients – including patients in public health care programs like Medicare and Medicaid – who either use or are compelled to use vertically integrated specialty pharmacies are not seeing this relief.”
“By owning every link in the chain, a conglomerate like UnitedHealth Group – which includes an insurer, a PBM, a pharmacy, and physician practices – can send inflated medical payments to its pharmacy.”
🔥👏👏🏾👏🏼Elizabeth Warren Has an ObamaCare Epiphany: NOW the Senator is complaining about the industry consolidation and price increases caused by the healthcare law. WOW, It took the Senator 13 years to understand ObamaCare’s medical loss ratio (MLR) invariably results in higher… pic.twitter.com/p7RC9zwASD
— Miss Do Tell (@BogieF) November 29, 2023
“Then, by realizing those payments on the pharmacy side – the side that charges for care – rather than the insurance side, the insurance line of business appears to be in compliance with MLR requirements, while keeping more money for itself.”
The rule has spurred insurers to merge with or acquire pharmacy benefit managers, retail and specialty pharmacies, and healthcare providers, making healthcare spending less transparent.
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