On November 11th, I gave a few pieces of advice/thought regarding health policy prep for the Trump Administration:
Third, if you have medications or other medical consumable goods that have substantial foreign components in them, see if you can stockpile or extend your script to a longer prescription in December. If we are to see 20-30-40-50-100% tariffs the entire supply chain is going to be an omni-shambles. Extending a 30 day scrip to 90 days might let you skip the initial ombi-shambling implementation and give you until March until you need to figure out what to do next.
This is still relevant and true today. If you can get longer fills and if you can afford to do so, it is probably a good idea to talk to your doctor/NP about it to get some policy insurance against tariff implementation omni-shambles.
Now onto deadlifting/shower thoughts from this morning — assuming there are either tariffs or substantial threats of tariffs on broad categories of goods including medication and medical supplies, how does this effect insurers in the next few years. Costs are likely to go up for each unit consumed but there might be fewer units consumed due to a combination of shortages and increased cost-sharing.
Old School
Is there an easy way to check if your medications have substantial foreign components in them?
I have no clue what happens to the medications before they reach me.
The Unmitigated Gaul
Off topic – but why does Trump have it in for Canada? Are those Melania/Trudeau stories true?
ArchTeryx
A lot of insurance carriers, unfortunately, will not cover 90 day supplies of medications – only 30 days at a time. I literally can’t stockpile and believe you me, I wish I could. But handing over thousands of dollars to them to stockpile meds out of pocket… kind of defeats the purpose.
I’m on this ride or die, and I fully expect the latter at this point. I won’t survive the next four years. I’ll be lucky if I am still alive in four months.
KatKapCC
@The Unmitigated Gaul: I mean…whatever one might think of Trudeau as a political leader, put him next to Trump and I think the choice is easy.
Of course…you could put a ferret next to Trump and the choice might still be easy.
scav
@The Unmitigated Gaul: There’s also the bit where Trudeau (like Macron) out-handshaked him, publicly, in front of cameras.
KatKapCC
@scav: Newsom did the same. I love that they know how to show him up in those subtle ways.
Anonymous At Work
How would insurers handle the Medical Loss Ratios, though?
David Anderson
@Anonymous At Work: It only matters if they are crossing a threshold — and most insurers are a couple of points above the MLR boundary condition.
Anonymous At Work
@scav: Trudeau’s on his way out, March 24th, and Trump is no one if not the type to kick someone when they are down or out because his zero-sum attitude leads him to bully others to look strong.
Sheinbaum in Mexico is punching back, so Trump’s cautious about picking fights with a woman who’s clearly not afraid of him in the slightest.
Ohio Mom
I am currently embroiled in an argument about my asthma med. The insurance insists I switch brands and to a much lower dose and my internist (now on secret probation) isn’t helping.
So right now, no band width for this. But I’ll check on Ohio Dad’s and Son’s meds. Thanks.
Anonymous At Work
@David Anderson: And if they expect higher inflation, money today is worth more than money tomorrow. And I’m guessing that medications aren’t such a huge part of their overall expenses to move the needle enough to draw scrutiny.
Starfish (she/her)
Someone near me pointed out how we had cancer drug shortages when a manufacturer in India that was FDA approved had to shut down.
Barbara
The impact of increased prices of raw materials on drug prices is likely to vary based on market position of the product. The impact will likely be much more substantial for generic products than branded — most (by no means all) generic drugs in the U.S. are practically commodities, and generic manufacturing margins are low. Manufacturers and distributors cannot absorb a price increase without passing it along. I think one of the major distributors said as much in a public pronouncement to its shareholders.
In contrast, branded drug pricing is much less influenced by the input cost of raw ingredients. High ticket items might not change at all — they are already so expensive it barely matters what the manufacturer spends to actually turn them out at the factory. Older branded items with more competition will probably be affected if the price increase is sufficiently high.
As for whether ingredients are supplied from abroad — assume that most are. It’s not all, but it’s many.
Divadias
It’s not that ingredients are supplied from abroad, meds are made abroad. Hospitals have been running short of IV fluids and other critical meds for YEARS now because of war and natural disasters. It’s not just prescription meds, it’s our everyday, over the counter medications.
I agree however, to stock up on your most important meds now, if you can afford it. If you can get your doctor to prescribe antibiotics, all the better, have a stash put back. Don’t forget the OTC meds also.