Strategic Agent Discussion - How To Counter The Inflation Reduction Act/RX Costs.....

[InsuranceGuy29]

Now that the dust has settled somewhat, we can finally see what the fallout of this act is. I think it's important to discuss how to counter it. I'm a strategic kind of guy, and my wheels are always spinning. There is now absolutely no doubt that us agents are heavily paying for this act. Everyone is, but especially us.

Many existing plans were cut, commission amounts were cut, future non-commissionable plans were enacted, a certain company has LITERALLY RESORTED TO STEALING OUR RENEWAL MONEY. Yea, safe to say we are paying.

Our commissions are basically being redirected to big pharma and their racket. Over the past few years, I have noticed (and I'm sure many of you have too) that RX companies have HEAVILY started to market prescriptions that have a super high monthly cost, and these drugs have no generics available. Make no mistake, that is no coincidence.

Drugs like Ozempic, Mounjaro, and Jardiance have become a trend. Commercials for these drugs have saturated the televisions across America. They knew how this act was gonna play out, and they saw an opportunity and pounced.......

Big Pharma Executive: "Only a $2,000 MOOP and insurance is gonna then gonna be forced to pick up the cost for everything??? GET THE ADS READY FOR OUR HIGHEST PRICED CRAP!!!! Get these high-priced drugs in all of our reps' hands and get them in those doctor's offices!!"

This whole thing is a giant circle jerk to big pharma. So, how can we counter? Obviously I, and we, are no medical experts, BUT what we can do is simply point out very similar drugs that are much cheaper.

Big Pharma's entire goal is to run crazy amounts of ads for these super high-priced drugs, in an attempt to brainwash people to ask their doctor about them. While simultaneously flooding doctor's offices with their pharmaceutical reps with samples and backdoor deals to push these specific drugs.

Over the past few years, I have encountered so many people on these drugs, and I had never even heard of them before. That's all by design. They went wild marketing and pushing these.

If a client mentions one of them, simply mention that there are other lower-priced alternatives that will save them money and will essentially do the same thing.

I think also studying and gaining knowledge about natural vitamins and supplements is also a good strategy. Again, we are not doctors or medical professionals, so we can't go recommending someone take something, but we can simply have adult discussions and plant seeds.

For instance....someone is taking Ozempic to lose weight. Well, what does Ozempic do? It simply suppresses appetite. There are many natural supplements that will do that. Go ahead and mention one. They might give it a try, they might not. If they try it and it works, you just saved the insurance company (and us, as a proxy) about $1,200/month.

Another strategy is to try and utilize the discount programs that the drug manufacturers themselves have. Research every high-priced drug and find out if they have one. For instance, Novo Nordisk has one for Ozempic and many other drugs.

If your clients rattle off that drug, or any other one on that list, then get them on that program. It makes the Ozempic free for them. It saves them money, and it saves the insurance company (and again, us, as a proxy) money.

Another strategy is to push GoodRx and other discounter cards more (obviously not for people that will hit their MOOP). Many times, people will pay less money with those than the insurance card. If it's a $7 copay for insurance and a $7 copay with GoodRx, then tell them to use GoodRx. There's no point in the insurance company (again..us) paying for this if GoodRx covers it at equal or better dollar amounts. Let them pay.

Money in the Medicare program is not infinite. I know some people think insurance companies are just an infinite money glitch, but they are not. Money is very real, and as we are now seeing, when a lot of money is taken out and/or redirected, we suffer, along with all of our clients.

We have to start looking at this money as our money, too, and being extremely fiscally responsible in what we are recommending, because all of us are paying for this big pharma blow job. If anyone else has any other good ideas, please feel free to share. Again.....we have to stick together and work as a united frontline. SOLIDARITY!

 

[Chazm]

I’m not a doctor, and I assume we as insurance agents are smart enough to know that we can’t suggest drugs to our clients. Especially natural ones. You’re asking for a lawsuit.

Stay in your lane.

 

[axeman462]

Now that the dust has settled somewhat, we can finally see what the fallout of this act is. I think it's important to discuss how to counter it. I'm a strategic kind of guy, and my wheels are always spinning. There is now absolutely no doubt that us agents are heavily paying for this act. Everyone is, but especially us.

Many existing plans were cut, commission amounts were cut, future non-commissionable plans were enacted, a certain company has LITERALLY RESORTED TO STEALING OUR RENEWAL MONEY. Yea, safe to say we are paying.

Our commissions are basically being redirected to big pharma and their racket. Over the past few years, I have noticed (and I'm sure many of you have too) that RX companies have HEAVILY started to market prescriptions that have a super high monthly cost, and these drugs have no generics available. Make no mistake, that is no coincidence.

Drugs like Ozempic, Mounjaro, and Jardiance have become a trend. Commercials for these drugs have saturated the televisions across America. They knew how this act was gonna play out, and they saw an opportunity and pounced.......

Big Pharma Executive: "Only a $2,000 MOOP and insurance is gonna then gonna be forced to pick up the cost for everything??? GET THE ADS READY FOR OUR HIGHEST PRICED CRAP!!!! Get these high-priced drugs in all of our reps' hands and get them in those doctor's offices!!"

This whole thing is a giant circle jerk to big pharma. So, how can we counter? Obviously I, and we, are no medical experts, BUT what we can do is simply point out very similar drugs that are much cheaper.

Big Pharma's entire goal is to run crazy amounts of ads for these super high-priced drugs, in an attempt to brainwash people to ask their doctor about them. While simultaneously flooding doctor's offices with their pharmaceutical reps with samples and backdoor deals to push these specific drugs.

Over the past few years, I have encountered so many people on these drugs, and I had never even heard of them before. That's all by design. They went wild marketing and pushing these.

If a client mentions one of them, simply mention that there are other lower-priced alternatives that will save them money and will essentially do the same thing.

I think also studying and gaining knowledge about natural vitamins and supplements is also a good strategy. Again, we are not doctors or medical professionals, so we can't go recommending someone take something, but we can simply have adult discussions and plant seeds.

For instance....someone is taking Ozempic to lose weight. Well, what does Ozempic do? It simply suppresses appetite. There are many natural supplements that will do that. Go ahead and mention one. They might give it a try, they might not. If they try it and it works, you just saved the insurance company (and us, as a proxy) about $1,200/month.

Another strategy is to try and utilize the discount programs that the drug manufacturers themselves have. Research every high-priced drug and find out if they have one. For instance, Novo Nordisk has one for Ozempic and many other drugs.

If your clients rattle off that drug, or any other one on that list, then get them on that program. It makes the Ozempic free for them. It saves them money, and it saves the insurance company (and again, us, as a proxy) money.

Another strategy is to push GoodRx and other discounter cards more (obviously not for people that will hit their MOOP). Many times, people will pay less money with those than the insurance card. If it's a $7 copay for insurance and a $7 copay with GoodRx, then tell them to use GoodRx. There's no point in the insurance company (again..us) paying for this if GoodRx covers it at equal or better dollar amounts. Let them pay.

Money in the Medicare program is not infinite. I know some people think insurance companies are just an infinite money glitch, but they are not. Money is very real, and as we are now seeing, when a lot of money is taken out and/or redirected, we suffer, along with all of our clients.

We have to start looking at this money as our money, too, and being extremely fiscally responsible in what we are recommending, because all of us are paying for this big pharma blow job. If anyone else has any other good ideas, please feel free to share. Again.....we have to stick together and work as a united frontline. SOLIDARITY!

You counter it by voting people in office that will repeal the IRA. Until then work within rules and regulations that you have. The chaos that it has created has created business opportunities. Seize them!

Also your 15th paragraph is completely wrong. Money, specifically the US Dollar is infinite. There is no supply cap on the Dollar. If Medicare needs more money the Fed will just print more. If the government needs more money to pay Debt, the Fed will just print more. It's as simple as that.

They will just keep printing until the Dollar collapses (or close to it) then, introduce a new currency. They did it in 1971 when they depegged us from gold and let the currency float. Again in 1913 with the introduction of the Federal Reserve Note. In 1836 when the Dollar was first backed by gold, and a couple other times in the early days of the country.

You could argue that we a due for a new currency.

The only way to have money be yours, fiscally sound, and stable is to own Bitcoin.

By the way, do you know why it's called "sound money"?

 

[InsuranceGuy29]

I’m not a doctor, and I assume we as insurance agents are smart enough to know that we can’t suggest drugs to our clients. Especially natural ones. You’re asking for a lawsuit.

Stay in your lane.

Not suggesting they take anything. If something should come up, it goes like this….”Ozempic?….I heard there’s a cheaper alternative out there. You might be able to save some money.” Then simply name the name. That’s literally it. You’re not suggesting they take anything. All you’re doing is putting information out there. They can then either go bring it up to their doctor to make them aware of it, or not. It’s no different than how commercials put things in their consciousness.

 

[InsuranceGuy29]

You counter it by voting people in office that will repeal the IRA. Until then work within rules and regulations that you have. The chaos that it has created has created business opportunities. Seize them!

Also your 15th paragraph is completely wrong. Money, specifically the US Dollar is infinite. There is no supply cap on the Dollar. If Medicare needs more money the Fed will just print more. If the government needs more money to pay Debt, the Fed will just print more. It's as simple as that.

They will just keep printing until the Dollar collapses (or close to it) then, introduce a new currency. They did it in 1971 when they depegged us from gold and let the currency float. Again in 1913 with the introduction of the Federal Reserve Note. In 1836 when the Dollar was first backed by gold, and a couple other times in the early days of the country.

You could argue that we a due for a new currency.

The only way to have money be yours, fiscally sound, and stable is to own Bitcoin.

By the way, do you know why it's called "sound money"?

A lot of “if’s” in there. Respectfully, no, money actually isn’t infinite. No one knows what the future holds. Printing money has real (bad) consequences, like austerity measures and less for us. Sure, they can keep printing money, but every time they do, it just keeps devaluing our dollar more-and-more, which leads to less-and-less buying power. This attitude is how this country got into this giant mess. The more people think “Ah, we can just print more money,” the worse things will keep getting.

 

[axeman462]

A lot of “if’s” in there.

Not Really

Respectfully, no, money actually isn’t infinite.

What's the supply cap of the Dollar?

Printing money has real (bad) consequences, like austerity measures and less for us.

Austerity is basically the opposite of printing money. The US Government has not practiced austerity, in the last 100 years.

Sure, they can keep printing money, but every time they do, it just keeps devaluing our dollar more-and-more, which leads to less-and-less buying power. This attitude is how this country got into this giant mess. The more people think “Ah, we can just print more money,” the worse things will keep getting.

I agree.

 

[InsuranceGuy29]

Not Really


What's the supply cap of the Dollar?


Austerity is basically the opposite of printing money. The US Government has not practiced austerity, in the last 100 years.

I agree.

I mean that you’re making a lot of assumptions about what would happen in the future. There’s just simply no way to know that for sure.

There is no cap, and that’s the problem. We cannot just keep printing money. Sure, you could theoretically keep printing money, but my point is that if you do, things are just gonna keep getting worse-and-worse for us.

Austerity has a few different meanings. I mean it in the sense of us simply having less-and-less luxuries and basic necessities.

 

[LeeV]

Sorry, but while I understand your frustration, your argument and solution(s) are laughable. You are correct that The Inflation Reduction Act has brought about some very real problems, including in your world (I am an employee benefits guy). You posit yourself as a strategic thinker and offer 4 strategies to counter the effects of The Inflation Reduction Act. Whether it is these 4, or any additional strategies that you may come up with, the chances of impacting the implications of The Inflation Reduction Act are zero.

 

[InsuranceGuy29]

Sorry, but while I understand your frustration, your argument and solution(s) are laughable. You are correct that The Inflation Reduction Act has brought about some very real problems, including in your world (I am an employee benefits guy). You posit yourself as a strategic thinker and offer 4 strategies to counter the effects of The Inflation Reduction Act. Whether it is these 4, or any additional strategies that you may come up with, the chances of impacting the implications of The Inflation Reduction Act are zero.

That’s your opinion. They’re like assholes….everyone has one.

I simply refuse to lay down and do nothing…..not happening.

The problem is easily identifiable and there are many easy ways to counter it.

So not exactly sure what’s “laughable” about basic problem solving.

 

[GoPokes]

Let's move this conversation over to the 1,000 mile club, and get real strategic! Ha!

But in reality, not a lot we can do individually, really need an organized effort, if you want boots on the ground field agents to make an impact.

You're gonna need a multi prong approach to make a change. Big Pharma has hurt quite a few people, and now we are just collateral damage...

Remember when Martin Shkreli was outcast by society and the media, for being so outwardly spoken, using a big Pharma tactic? They buried him quickly.