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The feds must cover FDA approved meds and that includes the recently approved prostate cancer med Provenge. The new drug is an infusion made specifically for each patient from their own cancer cells. The cost for the three needed infusions is approximately $95,000. Medicare will pay 80% and the individual or the Medigap will have to pay the additional monies. The kicker is that the research to date is on those with far advanced cancers and only give an additional 4.5 months of life.
Several states have legislation opposing the federal health law. Missouri will allow its voters to decide whether or not to abide by the new law ordering them to either be insured or pay a fine. In Oklahoma, a bill to allow the state to join in a suit against the feds on the legality of the health bill has gone to the governor for signature.
Another example of why healthcare is expensive has just taken place in Missouri. The Senate has passed a bill mandating insurance companies cover autism. This will cover up to $45,000 per year on intensive therapy per patient. The law only applies to those in small or medium size businesses as those are regulated by the state. Individuals would have the option to buy the policies or not. The bill also has an annual inflation provision. Those in the business arena will be stuck with another unfunded mandate.
The New York Times has an article about the cost of keeping children on the parent's health insurance policy until the age of 26. The cost will be borne by all those families with employer sponsored insurance and those families will see an increase in their premiums of at least 1%. If the adult child already is in the work force and covered then they wouldn't need the parent's insurance. This as part of the great social state would be tax free to the employee. Top
DISCLAIMER: Although this
article is updated periodically, it reflects the author's point of view at the
time of publication. Nothing in this article constitutes legal advice. Readers
should consult with their own legal counsel before acting on any of the
information presented.