Vincent Rajkumar: At some point we all face the high cost of healthcare

Vincent Rajkumar shared a post on X:

“Healthcare is highly expensive. Unlike other perils in life, everyone faces illness; at some point we all face the high cost of healthcare. All of life’s savings may go with the cost of one serious illness. Insurance is no certainty. Denials/out of network etc.

We need reform.

We need overall costs to come down. We need to be assured of a reasonable maximum out of pocket limit whether in or out of network We need premiums to be affordable. We need universal healthcare in some form so no one is left without affordable healthcare in our rich country.

The peace of mind that seniors will have next year with the $2000 out of pocket max for Part D drugs needs to extend with a similar program for Part B drugs.

In all my talks, the audience is thrilled when I talk about the peace of mind Medicare recipients finally have because the maximum out of pocket is capped at $2000 for Part D prescription meds starting next year. But few seem to know how close the vote was that made it happen.

Similarly, an annual out of pocket max for all healthcare per person must be in the law. The public needs that peace of mind. But we have to control healthcare costs simultaneously, to keep premiums affordable There is too much monopoly and waste in healthcare. Needs to be cut.”

Vincent Rajkumar is a Professor of Medicine at the Mayo Clinic in Rochester, Minnesota, and Chair for the Mayo Clinic Myeloma, Amyloidosis, and Dysproteinemia Group.  He also chairs the Board of directors of  The International Myeloma Foundation and the Eastern Cooperative Oncology Group (ECOG) Myeloma Committee. His extensive contributions include over 230 peer-reviewed publications, predominantly focusing on multiple myeloma and related plasma cell disorders. Furthermore, Dr. Rajkumar is a Section Editor for multiple myeloma and related disorders for Leukemia and an Associate Editor for the Mayo Clinic Proceedings.