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Rising Prescription Drug Cost Essay

2470 Words10 Pages

A man’s wife is dying of cancer and there is one medicine that can save her. This drug is rare as it is only made by one chemist, and as a result, the price is exorbitant, ten times the actual cost of production. The man cannot afford to pay it and must either forgo the chance to save his wife’s life, or undertake desperate measures. Now, this scenario could be viewed as the Heinz Dilemma, a story often told in order to gauge the levels of moral reasoning, but unfortunately, it could also serve as an example of what the United States’ healthcare system has become. Prescription drug prices have been rapidly rising, so much so that they may not reasonably be attainable for the typical citizen. Just in the year from 2014 to 2015, the total amount …show more content…

If individuals are not able to reach their greatest potential, they will not be able to contribute to society to their greatest degree. But also, there are more concrete ways society is harmed. Due to health insurance, people do not have to bear the costs of treatment completely on their own. Instead, the expenses are mitigated by being spread out among policy members. The problem is then the high cost of prescription medications is transformed into higher premiums for everyone with the insurance. Higher deductibles often result as well. Health insurance, while partly privatized, is not entirely so with government programs such as Medicare, Medicaid, Veterans Health Association provides coverage as well. The rise of prescription drug prices is greatly felt by these entities. Medicare serves as the best illustration given 29% of the country’s prescription drug expenses are handled through the program with 90% of participating seniors requiring medication. When more must be spent on the medications, there are less funds available than originally budgeted. Consequently, more money must be added to the program through tax increases or deficit spending. Otherwise, the services must be reduced and coverage denied to many in need. With either course taken, society is

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