When people discuss the ever-rising costs of health care, one of the most common complaints is the sometimes exorbitant price of prescription medicines. For those with multiple medical conditions or the elderly, the costs can become so overwhelming that overseas options are sought or, worst case, patients refrain from necessary treatments in order to pay for other life necessities.
In a long-term effort to reduce health care costs for Americans in the most need of such assistance, President Obama took another step in the process of reform by announcing an $80 billion deal with pharmaceutical companies to reduce prescription drug costs.
While the details of the plan were vague, it was noted that the $80 billion savings would occur over the course of the next decade and primarily come at the hands of drug manufacturers to try to help those who fall into the category of Medicare prescription drug coverage that leaves many customers with high costs.
Speculation began immediately after the announcement, as both sides of the Congressional aisle and the health care reform issue expressed concerns about the plan. Some believe the $80 billion cut will hurt drug companies, but others argue that drug companies will ultimately manufacture alternatives and benefit from the distribution of higher quantities of cheaper medications.