Obamacare to blame for soaring drug costs: AEI

CNBC reports:

"What we have is an under-insurance problem," he said. "People are now under-insured, especially for catastrophic drugs if they get a disease like cancer or something like that because of these new [narrow] formulary designs … popularized by the Affordable Care Act."


Defined on the government health care website, the term formulary, also known as a drug list, is described as a rundown of treatments covered by a prescription plan or another insurance plan offering prescription drug benefits.

"If the drug is not on your [Obamacare] formulary list, you have no co-insurance. You're completely on your own," said Gottlieb, an advisor to the Centers for Medicare & Medicaid Services in the Bush presidency. The agency, a division of the Health and Human Services Department, administers government health-care programs, including Obamacare. "Since these plans are the predominant structures in Obamacare, they're starting to migrate into commercial plans" in the workplace, he said.

Imagine that.