6 ms·

I have seen videos where he explains: insurance pays for the medicine, not individuals, and people who can't afford/have insurance gets them freely from governm

I have seen videos where he explains: insurance pays for the medicine, not individuals, and people who can't afford/have insurance gets them freely from government programs/their company programs.

ZenoArrow 9y ago
Price gouging by pharmaceutical companies almost certainly drives up health insurance costs. It's not a victimless crime.
- ptr_void 9y ago
  By his explanation: There are only a small amount of patient that patients that needs this drug. I think the number was around 2000. Also drugs are not the largest part of insurances pay for.
  - ZenoArrow 9y ago
    That doesn't make my previous statement any less true. Also, I'd suggest focusing on the wider picture. Price gouging on a single drug may have a minimal impact, but there have been numerous cases of drug companies artificially hiking prices of their products, which does make a substantial difference. There are numerous studies into this if you're interested.
    - ptr_void 9y ago
      I don't have much understanding of wider picture of drug prices and insurance to know it, but there certainly could be such issues. I think the comment I replied to was edited or I might have accidentally replied to wrong comment, I am not sure. On similar issue, here's Martin Shkreli proposing his own idea on this matter to keep prices down: https://www.youtube.com/watch?v=xbkz2VVUBLE https://www.youtube.com/watch?v=xbkz2VVUBLE
frgtpsswrdlame 9y ago
>insurance pays for the medicine, not individuals And who pays for insurance? (Hint: It's individuals) Shkreli is right in that by raising the prices he wasn't really gouging the sick for thousands and thousands of dollars, he was gouging all of us with insurance for some fraction of a penny. It's still wrong.
hellofunk 9y ago
There is a reason why most international insurers will cover your health concerns everywhere in the world except the U.S. The American health system has out of control expenses that are putting immense strain on its every seam. Making distributors or insurance companies pay much more because "fuck them" (as Shkreli proudly said) only adds to a very serious problem in American healthcare.
- MichaelGG 9y ago
  Good, more people should do this until it breaks and reforms. And not just do it, but do it with his face and smile. Because companies have been doing this for a long time, but there's no one to direct the anger onto.
  - hellofunk 9y ago
    You sound quite a lot like Trump. "Just let it fail..."
    - apsec112 9y ago
      Please don't make personal attacks on HN, especially politically charged ones.
      - hellofunk 9y ago
        Please don't litter HN all over various threads with your attempt to be a moderator.
    - MichaelGG 9y ago
      Versus what? Relying on the goodwill of pharmaceutical companies? Seeing as this has been going on for a while but there haven't been lots of airtime about it until now, I'd say Martin's on the right path.
      - hellofunk 9y ago

I have seen videos where he explains: insurance pays for the medicine, not individuals, and people who can't afford/have insurance gets them freely from government programs/their company programs.

ZenoArrow 9y ago

Price gouging by pharmaceutical companies almost certainly drives up health insurance costs. It's not a victimless crime.

ptr_void 9y ago
By his explanation: There are only a small amount of patient that patients that needs this drug. I think the number was around 2000. Also drugs are not the largest part of insurances pay for.
- ZenoArrow 9y ago
  That doesn't make my previous statement any less true. Also, I'd suggest focusing on the wider picture. Price gouging on a single drug may have a minimal impact, but there have been numerous cases of drug companies artificially hiking prices of their products, which does make a substantial difference. There are numerous studies into this if you're interested.
  - ptr_void 9y ago
    I don't have much understanding of wider picture of drug prices and insurance to know it, but there certainly could be such issues. I think the comment I replied to was edited or I might have accidentally replied to wrong comment, I am not sure. On similar issue, here's Martin Shkreli proposing his own idea on this matter to keep prices down: https://www.youtube.com/watch?v=xbkz2VVUBLE https://www.youtube.com/watch?v=xbkz2VVUBLE

frgtpsswrdlame 9y ago

>insurance pays for the medicine, not individuals And who pays for insurance? (Hint: It's individuals) Shkreli is right in that by raising the prices he wasn't really gouging the sick for thousands and thousands of dollars, he was gouging all of us with insurance for some fraction of a penny. It's still wrong.

hellofunk 9y ago

There is a reason why most international insurers will cover your health concerns everywhere in the world except the U.S. The American health system has out of control expenses that are putting immense strain on its every seam. Making distributors or insurance companies pay much more because "fuck them" (as Shkreli proudly said) only adds to a very serious problem in American healthcare.

MichaelGG 9y ago
Good, more people should do this until it breaks and reforms. And not just do it, but do it with his face and smile. Because companies have been doing this for a long time, but there's no one to direct the anger onto.
- hellofunk 9y ago
  You sound quite a lot like Trump. "Just let it fail..."
  - apsec112 9y ago
    Please don't make personal attacks on HN, especially politically charged ones.
    - hellofunk 9y ago
      Please don't litter HN all over various threads with your attempt to be a moderator.
  - MichaelGG 9y ago
    Versus what? Relying on the goodwill of pharmaceutical companies? Seeing as this has been going on for a while but there haven't been lots of airtime about it until now, I'd say Martin's on the right path.
    - hellofunk 9y ago