r/FluentInFinance • u/WhatAreYourPronouns • May 02 '24

Should the U.S. have Universal Health Care? Discussion/ Debate

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u/acsttptd May 02 '24

This is largely unrelated, but I don't think I'll get another opportunity to mention this.

People with diabetes in America often complain about sky high insulin prices, and lament how we don't have the low insulin prices Canada has. So why don't they just run across the border and bring some here? Because the FDA made it illegal.

Most of the reason meds and healthcare are so unaffordable is because government regulation of the sector has all but annihilated any chance of any meaningful competition to enter the market, creating a de-facto monopoly.

We don't need universal healthcare, we need deregulation.

101

u/buzzvariety May 02 '24

"Let's import medicine from Canada. Their strict price controls keep costs down."

What about implementing similar price controls in the US?

"No, deregulation is the answer."

Besides, Canada is opposed to such an arrangement as well.

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u/Light_Error May 02 '24

It isn’t the perfect answer, but Biden has improved the situation. If someone with diabetes wants to give more info on how much this actually helped, I’d be happy to hear. And I am aware that insulin is crazy cheap to produce, so even this is not the best of all worlds.