Tip #355- How On Earth Will We Pay For These?

Another week, another fascinating health care presentation. This one on drugs working their way to market. Ever heard of these:

• Yescarta® ; approved by the FDA 10/18/2017 for the treatment of a specific lymphoma. Estimated annual cost $373,000
• KymriahTM; FDA approved 8/30/2017 for the treatment of a type of leukemia. Estimated cost per treatment $475,000
• LuxturnaTM: FDA approved 12/12/2017 for a retinal disease. One treatment per eye at $425,000 each?

These so called “biologics” – because they are derived from living organisms – are part of a larger group called specialty medications. Health plans report only 1-2% of their members use these drugs yet they now account for nearly 50% of total prescription costs.

You can see why.

Now let me remind you that claims paid by our health insurers are with your/our premiums.

Thus, the title of this Tip!