Are the COVID vaccines fairly priced?

Marijn Raemaekers

As of April 2021, the horrific pandemic that is COVID-19 has taken the lives of over 3 million people and continues to surge in over 180 countries and territories. However, a long-awaited light of hope seems to be uncovering itself as a dozen authorized vaccinations are being distributed around the globe. A light at the end of the tunnel, one I may argue is priceless. Therefore, although some may argue otherwise, I claim the COVID vaccines to be fairly priced. 

On the contrary, many argue that vaccines are a currency of life and death. They dispute the fact of the matter that is the urgency and importance of mass vaccine distribution, regardless of the price. In dispute to common contradictions, due to the consequence of a raging pandemic that has confined over 3.9 billion people into their homes, the cost of humanity’s wellbeing along with a sense of normalcy has become priceless.

One reason you may rethink the comparably minuscule cost of a COVID vaccine is the average cost of hospitalization if needed as a consequence of the virus. In fact, the average cost of each dose of vaccines such as the Pfizer and Moderna vaccine, both proving as 95 percent effective, ranges from $3 to $37. The average cost of hospital care depending on age ranges from $51,000 to $78,000. This shows the incomparable cost of COVID treatment when placed in comparison to that of a vaccine providing almost guaranteed protection.

Another reason I believe the COVID vaccinations to be priceless is the immense economic recovery that will be a consequent recurrence of the reopening of our world following mass vaccination. According to a brief by the Penn Wharton Budget Model, if the number of vaccine doses provided daily was doubled to 3 million, 2 million new jobs would be created and real GDP would increase by about 1% over the summer of 2021. Consequences like this are predicted to be observed globally, and smaller effects will continue to be noted as the year progresses.

Finally, the mental health effects of COVID are undeniable, and the potential reopening of schools and the return of numerous social interactions will promise better health for numerous children, teens, and adults. According to a study conducted on the mental health of adults during the pandemic, there was an increase from 1 in 10 to 4 in 10 in the US that experienced symptoms of anxiety and depressive disorder during the pandemic.

I believe it has now been proven clear to you: the COVID vaccines are fairly priced, as the cost of wellbeing and the potential of a new sense of normalcy is priceless. When placed into comparison with both mental and physical health effects of the virus, as well as economic reopening the choice is sat in your hands. What would you rather pay for? A hospital bed, or the return of  normalcy that has almost been forgotten.

Michael S.

In this day and age, our health and safety depend even more on the system that we trust. The implementation of proper health procedures and care is being continuously and arduously tested to prevent the further spread of Covid. With the rapid development of new technology to aid the world, along came several vaccines that provide immunity to Sars Covid-19. However, as per the decision of those private industries, there is a monetary price to be paid to be safe. Therefore, the covid vaccines are unfairly priced because prioritizing each citizen’s health should be freely given.

Firstly, a country’s healthcare should be provided by the leading body in power: the government. And so the system must be able to provide a universal healthcare system at least. Universal healthcare, in layman's terms,  is where every citizen of a country has free access to basic health needs. This would alleviate the needs of citizens to worry about being able to afford stable income for families, especially to those who are in the lower socioeconomic classes. As we can see from recent events all over the world, each nation’s healthcare systems are being challenged to their limits. Efficiency is key to being able to halt the further contamination of the population. 

However, efficiency is not enough to be able to contain the virus. Coverage would be crucial in order to completely flatten the curve of new cases. Most of the world would consent to having a vaccine available to the public. Many citizens are also being affected by their unemployment. According to Rappler, roughly 4 million Filipinos have become unemployed due to quarantine and the pandemic. Sources of income are a more pressing issue. The lack of being able to work outside, or the inability to be able to work online, has caused a majority of the country to be relying on government funds. People are already struggling to provide food on the table, much less pay for vaccines. If economic situation would be an obstacle to achieve a dire need, then maybe it’s less about what the people are doing and more about what those in power are doing.

Therefore, the priorities of the government should be rewritten due to this rare occurrence of an epidemic. According to CNN, the Philippines government intends to allocate roughly P205.5 billion to National Defense or AFP. Granted, the budget for healthcare is P287.5 billion, but most of that money is aid for the health workers and frontliners. Despite the budget for labor and employment, which is P36.6 billion, the government’s Ayuda program would only be able to give P4000 to P8000 per family. This alone would not be able to support a family’s essentials, let alone purchasing vaccines with numerous doses for everyone in the household.

Therefore, the covid vaccines are unfairly priced and should be decreased. The needs of citizens should not be accessible only to those who are able to afford it. Economic inequality should not add as another major problem amidst the pandemic.