John Rother
John Rother
faster inflation prices
Drug prices are going up faster than inflation and we need to do more to keep them affordable.
certainly compared consumers explain generic good kept news previous prices reason sure switch
That was a real surprise. Generic drug prices have been kept down substantially compared to previous years. I'm not sure I can explain that, but it's certainly good news for consumers and more reason than ever to switch to a generic drug if you have that option.
across board category chronic difference hit increases involved people price seem suffer
What we find is that these price increases are pretty much across the board -- it doesn't seem to make much difference what category of drug is involved or what manufacturer. Obviously, those people that are chronically ill, and particularly those who suffer from more than one chronic illness, they are getting hit pretty hard.
far price putting spotlight
We're putting a spotlight on what manufacturers are charging, which is by far the most significant part of the price equation.
cumulative effect increases moving price rate row sixth twice year
It's moving in the right direction. I will say that. But this is the sixth year in a row of price increases that are at least twice the rate of inflation, so it has a cumulative effect that I think is pretty serious.
counteract discount full hurting impact none price prices programs
Still, none of these discount programs can counteract the full impact of these price increases. Even with the discounts, these prices are hurting people.
costs higher prices reflected
These prices are reflected in higher premiums as well as higher out-of-pocket costs at the pharmacy.
care costs finance keeping per successful
Even if we're extraordinarily successful ... at keeping the per capita costs limited, there has to be some way to finance care for that many people.
coverage joining people rush
There's no need to rush in, but most people will probably be better off getting the coverage than not joining up.
ability bringing continued earnings emphasized four health individual normal pass pensions people pillars ready retirement second social terms third
We really need to think about four pillars for retirement. ... The first pillar is Social Security. The second is individual pensions or savings. The third is health insurance, very important. And the fourth, surprisingly, is the continued ability to earn, because many people are going to need to find some way of bringing in earnings after they pass normal retirement age, and we think that that should be more and more emphasized in terms of getting ready for that possibility.
four pillars retirement
We really need to think about four pillars for retirement.
job likely mostly moving point seem
It doesn't seem at this point that there's likely to be legislation moving on to the president. I think our job is mostly done.
family gains ordinary overall people richer rising seeing wage
We do have overall growth. But it's not translating into family income. The haves are getting richer and ordinary people are seeing their wage gains go to rising health-care costs.
among future high insurance likely negative people percent program risk seniors sign spread
If only 20 percent or even 30 percent of seniors sign up, that is every negative for the future of the program because the people most likely to sign up are the people with high drug expenses, and you don't have insurance if you don't spread the risk among people who are healthy.