We may think that the "co-pay" that we plunk down when buying drugs that are covered by insurance is too large. Here comes a study that exceeds our worst suspicions: 28% of the time (for generic drugs) the co-pay is actually more than the drug costs, and your insurance company is pocketing the difference. They get you coming and going.
"12 of the 20 most frequently-prescribed drugs involved overpayment rates above 33%."
(It doesn't mean you're better off just buying the drug yourself. Insurance companies negotiate with pharmacies so they get a steep discount. You as an individual pay the full, inflated retail price set by the drug company.)
What it does mean is that the insurance companies are deceiving you, and making profit in every honest and dishonest way that they think they can get away with.
This study was published in the Journal of the American Medical Assoc, March 14.
At jamanetwork.com
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