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U.S. Health Insurance Reform At A Crossroads

Armen Hareyan's picture

The American pharmaceutical industry has agreed to spend 80 billion dollars over ten years to help reform the welfare system and improve health insurance coverage for the elderly. This constitutes "a milestone" in the implementation of the promise of the President Barack Obama to ensure all its citizens have access to affordable health insurance and health care.

"We are at a turning point of a journey leading the United States to a health care reform," said the president a week ago.

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After secret negotiations between lawyers for the pharmaceutical industry and the White House, drug manufacturers have agreed to reduce prescription drug prices for seniors under the Medicare program. This in turn will reduce the differences between the beneficiaries.

Therefore, this move by the Pharmaceutical industry will help the government as the cost of health care reform has become a major stumbling block as to how much will the public health insurance cost. Now, the cost of health insurance coverage will be less for the government and the Treasury should also find funding for these programs with the support of industrialists.

Prescription drug makers, according to this pledge, will make greater discounts for those people who hold Medicaid insurance policy. Usually, these are the most disadvantaged people receiving health insurance coverage.