Although claiming to lower prescription drugs prices and extend affordable health care insurance to low-income families, the Manchin-Biden Build Back Better bill will stifle competition, significantly hamper the development of new cures, and redirect hundreds of billions of dollars from Medicare to insurance companies and Green New Deal policies, writes Ways and Means Member Rep. Greg Murphy (R-NC) in Newsweek.
Democrats wave the white flag in the fight against curing cancer by halting development and innovation of new cancer drugs.
- “First, the bill would grant the secretary of Health and Human Services sole authority to set drug price controls for Medicare Part B and D. While all Americans see lowering drug prices as a top priority, this is a horrendous approach. ”
- “The University of Chicago estimates that this scheme will prevent up to 342 new drugs from coming to market over the next 20 years.”
More doctors will have to close their doors, forcing patients to seek out more expensive care.
- “According to an Avalere analysis, the partisan reconciliation package would ‘lead to a total reduction of 39.8 percent in add-on payments across all providers administering top Medicare Part B drugs.’ For rheumatologists and medical oncologists, these specialists will see 48.5 percent and 42.9 percent reductions, respectively, in reimbursement.”
- “If the Democrats’ reconciliation package is signed into law, not only will Americans lose access to new curative medicines, but they also won’t have the doctors to administer them. Even if patients are lucky enough to find a physician, patients will have to pay more for treatments and cures.”
Taxpayers will be on the hook to pay for Obamacare subsidies, benefiting wealthy Americans.
- “…The new ‘enhanced’ Obamacare subsidies authorized in this bill will cost taxpayers $248 billion over 10 years. These subsidies will inexplicably extend premium tax credits to wealthy Americans, which will line insurance companies’ pockets to artificially lower premiums.”
- “…under this proposal, a couple in Pennington County, South Dakota making $500,000 per year would receive nearly $2,000 in annual subsidies. Think about that for a second. In President Joe Biden’s America, someone making half a million dollars a year will have his health care subsidized. That is absolutely absurd.”