NCPA Media: News Release
Jun 21, 2016
Overregulating Drug Plans Could Raise Costs to Consumers: NCPA
Would requiring disclosure of wholesale prices lower prescription drug costs? Experts say no, according to a new report by National Center for Policy Analysis Senior Fellow Devon Herrick.
In a misguided attempt to combat the high prices of some new and specialty drugs, a few politicians and trade lobbyists for pharmacies and drug makers have begun to blame high drug prices on the administrators of employee drug plans – suggesting drug plans are not passing on their discounts to consumers and employers.
This “bogus argument” posits that drug prices would be lower if drug plans were required to disclose the wholesale prices – a requirement that would be detrimental to any wholesale industry.
Regardless of the industry, wholesale prices are often negotiated among private parties and are generally considered proprietary. “If competing hardware stores knew the exact wholesale prices Home Depot negotiated with suppliers, all competing stores would bargain aggressively for the same price. Over time, the likely result is that manufacturers would ultimately set one uniform wholesale price higher than the price volume purchasers would otherwise obtain,” says Herrick.
The end result? Highly competitive firms would no longer be able to leverage buying power and pass on discounted prices to consumers.
“Drugs are affordable for most consumers because of competition among Pharmacy Benefit Managers (PBMs),” adds Herrick. “Taking away PBMs’ ability to compete by regulating price transparency would harm consumers in the long run."
A Bogus Solution for High Drug Costs: http://www.ncpa.org/pub/a-bogus-solution-for-high-drug-costs
Jun 03, 2016
Chairman Jeb Hensarling Unveils Key Points of Republican Plan: NCPA
Because the Dodd-Frank Act is harming the economy and consumers, the House Financial Services Committee plans to offer a pro-growth, pro-consumer replacement, previewed by Chairman Jeb Hensarling at a recent National Center for Policy Analysis briefing in Washington, DC.
“Dodd-Frank stands as a monument to the arrogance and hubris of man in that its answer to incomprehensible complexity and government control is even more incomprehensible complexity and government control,” says Hensarling. “Dodd-Frank codified too big to fail and taxpayer-funded bailouts into law,” made us less prosperous, and harmed our freedom – and needs to be replaced, he adds.
Hensarling says the Republican plan will be based on the following principles:
- Restoring economic growth through competitive, transparent and innovative capital markets;
- Giving every American the opportunity to achieve financial independence;
- Protecting consumers from force, fraud and deception, but also from the loss of economic liberty;
- Ending taxpayer bailouts of financial institutions and the idea that any company is “too big to fail”;
- Reducing systemic risk through market discipline;
- Replacing complexity with simplicity, because complexity can be gamed by the well-connected and abused by Washington bureaucrats;
- Holding both Wall Street and Washington accountable.
“In the weeks to come, we on the committee look forward to unveiling this legislation, receiving your feedback, and ultimately earning your support,” says Hensarling. “Because this is a fight for America’s future, and I’m more confident than ever it is a fight we can win.”
Principles of Financial Opportunity Reforms: http://www.ncpa.org/pub/principles-of-financial-opportunity-reforms
May 31, 2016
Four reforms could rein in Medicare spending growth: NCPA
NCPA: Rising numbers of retirees and excess cost growth have made it imperative that we chance how the Medicare is financed – or the cost burden will crush taxpayers, according to a new study by NCPA Senior Fellows Andrew J. Rettenmaier and Thomas R. Saving.
May 02, 2016
Hardening the state’s electric power grid key should be top priority: NCPA
NCPA: Protecting America’s most vulnerable asset – our electric power grid – starts with Texas, according to a new study by National Center for Policy Analysis Senior Fellow David Grantham.
May 02, 2016
NCPA: Texas Cowboy Hall of Fame member and 2006 Poet Laureate Red Steagall will share his poetry and his ideas on agriculture and the economy at a May 4th luncheon for the National Center for Policy Analysis.
Red intends to use “a few jokes and a couple of poems” to emphasize the importance of agriculture which he considers “essential to our common well-being.”
Apr 21, 2016
Changes in Oklahoma Could Set Costly Precedent for Other States
NCPA: New legislation just passed by the state House of Representatives in Oklahoma will allow pharmacies to request higher prices than the maximum allowable costs (MAC) on certain prescription drugs, as well as enable pharmacies to request higher consumer co-pays, according to a new report by National Center for Policy Analysis Senior Fellow Devon Herrick.
Apr 20, 2016
We Should Examine Control over Health Care Dollars, Not Just Growth of Spending: NCPA
NCPA: The assumption that health spending influences economic growth for better or worse is too simple, and could lead to detrimental policy recommendations, according to a new study by National Center for Policy Analysis Senior Fellow John R. Graham.
Apr 19, 2016
Focus Must be On Security Assurance, not Capacity Building: NCPA
NCPA: The 2017 National Defense Authorization Act must reform the military’s financial commitment to the Trans-Saharan partnerships, and its counterterrorism and “capacity-building” efforts in Africa, according to a new study by National Center for Policy Analysis Senior Fellow David Grantham.