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_Face t1_jctq3xh wrote

> A 10-milliliter vial of insulin will be available for no more than $30, pending approval by the US Food and Drug Administration, says the release.

So every time I read these articles I always wonder the same thing. Is this cost to the end user, or to the insurance companies? Like is the insurance company still paying $100 and my copay is only $30?

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alexmbrennan t1_jctqlwb wrote

Does it matter? If the insurance companies' costs fall then they will offer lower their rates (or be undercut by their competitors)

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Zanothis t1_jcu2aeq wrote

In theory. But the invisible hand of the free market seems to be imaginary rather than invisible.

In reality, the insurance companies will all just pocket the difference. They'll then use their increased profits to pay out higher dividends or to finance a stock buyback. If it's a privately owned company, the profits will be distributed to an even smaller number of people.

But despite disagreement over the consequences, we do at least agree that it doesn't matter whether California is going to be lowering the cost for insurers.

And I'm always happy to be proven wrong about things that I'm pessimistic about. If you have strong evidence that there's a large health insurance provider that will cut premiums across the entire country from cost savings I genuinely want to see it.

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oboshoe t1_jctyxai wrote

of course it matters.

That $70 gap would have to be paid by someone. And since governments and corporations are funded by the same people. That someone is you.

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