Medicare and Obamacare have made considerable changes regarding the medicine that is being provided to Americans. The Medicare drug plans that are given use something called a formulary which is a list of drugs that are covered with the plan that each person might choose for themselves or their families. In contrast, Obamacare does the job of totally abolishing the so called “donut hole” that was created by Medicare and instead makes the drugs that are offered incredibly more affordable for Senior Citizens. Weighing the two together is a good way to decide which would be the better in regards to medicinal practice for me after graduation. I’m currently in the Pre-pharmacy School and it is imperative for me to understand why and how Obamacare …show more content…
Based on a chart developed by the Obama administration the amount paid by the individual for brand name drugs distributed to the general public from 47.5% to 25% from 2015 through 2020. At the same time, the percentage paid on generic drugs during this coverage gap decreases existentially from 2020 to 2015 bringing the percentage from a mountainous 79% to a measly 25% in just that 5 year period. “This legislation includes physician payment reforms that encourage physicians, hospitals, and other providers to join together to form accountable care organizations to gain efficiencies and improve quality of care.” (Obamacare: Pros and Cons, page 3) According to Forbes, “The Affordable Care Act, Despite expiring patents on blockbuster drugs and a wave of new regulation from the Affordable Care Act that will cost drug makers, the pharmaceutical industry will reap between $10 billion and $35 billion in additional profits over the next decade.” While this is an abundance of revenue coming in for these companies, the brand name drugs will not see a good amount of growth in income until the end of 2016. Up and until then, the generic drugs being distributed will see the most