Posted on 05/26/2016 8:05:39 AM PDT by Sean_Anthony
One of the great mistakes is to judge policies and programs by their intentions rather than their results.—Milton Friedman
The story of the 340B discount drug program is a classic example of a government program that has been hijacked.
Established by the Veterans Healthcare Act of 1992, 340B was intended to give veterans and the indigent discounted drugs. Pharmaceutical companies could sell through to government veterans programs but had to offer a small amount of drugs at costs to help poor and indigent vets. According to the program’s requirements, covered entities must not resell or otherwise transfer 340B drugs to ineligible patients.
“Once ObamaCare became law, the number of facilities participating in the program rose from 14,000 to 20,000. Hospitals and other health care facilities realized they could take in the drugs at the discounted rate and then could turn around and bill Medicare and private insurance companies for the full cost of the drugs. The difference would be banked as profit. And profitable it is”
Wow...everyone is running a scheme!
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