Republicans cite insurance profits as excuse to fight effort to rein in prescription drug prices

I love the excuse that Todd Gilbert, who holds the title House Minority Leader, meaning, he’s the top Republican in the Virginia House of Delegates, has for opposing an effort to rein in the cost of life-saving prescription drugs.

Seriously, Gilbert, R-Shenandoah County, cited the California wildfires.

“A whole slew of insurance companies had either pulled out or dramatically reduced coverage in California, leaving a number of people who were impacted by these fires uninsured. For every dollar they collected in premiums, they were paying out $1.09 in lawsuits. So, they just said, ‘We’re in the business of making money, whether anybody likes that or not. We can’t make money doing this,’” Gilbert said this week, in an impassioned speech defending the rights of insurance companies to make money.

Golf clap.

No doubt, the check is in the mail, Todd.

The House Labor and Commerce Committee went ahead and advanced HB1724, legislation that would create a Prescription Drug Affordability Board, by a 12-9 vote on Tuesday.

Great quote on the need for a Prescription Drug Affordability Board from Del. Alfonso Lopez, D-Arlington, who cited a Department of Health and Human Services report showing that U.S. consumers pay 258 percent higher prices for prescription drugs than the French do, 244 percent more than Italians, 225 percent more than Germans, 209 percent more than Japanese consumers, 170 percent more than is paid in Mexico.

“It’s fairly obvious that other countries are able to actually do this much cheaper for the same prescription drugs,” Lopez said.

But, but, but: insurance companies won’t be able to make as much money.

Del. Karrie Delaney, D-Fairfax, one of the bill’s two primary co-sponsors – significantly, the other is a Republican, Ellen Campbell, R-Rockbridge – called BS on Gilbert’s wail on behalf of the insurance sector.

Delaney, ahead of the committee vote, dismissed Gilbert’s concern that insurance companies would “hold hostage the health and life of Virginians” because they won’t be able to make as much money as so much “fear-mongering.”

“There is still an opportunity to make profit in Virginia,” Delaney said.

Which is to say, they don’t have to hold our health hostage to be able to make money off us because we’re sick.

‘Murica!