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A medication that cost $165.68 under insurance would've cost only $92 had it been paid for in cash without insurance.
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That's what a new lawsuit filed against CVS is alleging. The suit claims that the pharmacy agrees with pharmacy benefit managers, or PBMs — the middlemen of the industry that manage the list of what drugs an insurer will and will not pay for — to sell certain drugs at a higher price if a customer is paying with insurance.
Rather appalling, the article details how pharmacist are not allowed, under the terms of some contract with the Pharmaceutical Care Management Association, to even tell customers if their prescribed, generic, medication would cost less (i.e., less than co-pay) if they paid cash (no insurance filed).
Insurance companies are ripping us off. They only want the healthy and kick the old and sick off their policies whenever they can, hence Medicare. In addition, health insurance companies are robbing us blind. Government programs, such as Medicare and Medicaid, cover the majority of healthcare related expenditures. Why not get healthy people into the pool with Medicare thereby making Medicare solvent and allowing the healthy to enjoy that which they already pay for with their taxes?
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Fifty years ago, Medicare and Medicaid did not yet exist, and about half of hospital care was not covered by insurance. In 1960, almost 100% of the spending on prescription drugs came out of the consumer's pocket, but by 2014, out-of-pocket spending was down to 15%. This interactive graphic uses data from the US Centers for Medicare and Medicaid Services (CMS) to show national spending trends from 1960 to 2014 for health care by payer
Time to get rid of health insurance and go to one single risk pool for healthcare. Health insurance companies are siphoning off money.
That's so absurd it should be illegal to do. That's not about supply and demand nor the free market. It's about insurance companies taking people for a ride over a cliff considering the huge amounts people pay monthly to them.
So you pay hundreds of dollars to your medical insurance every month plus a large deductible if you use them and in return they jack up the prices for medication. Boy that sounds really fair. No wonder so many people are wanting universal health care.
Universal HC won't stop this. Don't kid yourselves, the Pharma lobby would be sure of it.
Only if Republicans allow that as they did with Medicare part D.
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The fact that Medicare is forbidden in the law that created Medicare Part D to negotiate lower prices is no accident. The drug lobby worked hard to ensure Medicare wouldn’t be allowed to cut into the profits which would flow to big Pharma thanks to millions of new customers delivered to them by Part D. (this was a GOP sponsored bill).
Yep. ALL medical costs are lower when you don't use insurance. HC providers charge more than they usually get to the insurance companies so when the INS company chews them down, they get close to what they would have gotten.
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