Comments on: Avoid These Pharmacies That Mark Up Generic Drugs A Ridiculous Amount. http://www.mytwodollars.com/2007/03/15/avoid-these-pharmacies-that-mark-up-generic-drugs-a-ridiculous-amount/ A place to discuss money...for the rest of us. Fri, 10 Feb 2012 05:21:23 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Bargain Quest » Comparison Shop Those Generic Drugshttp://www.mytwodollars.com/2007/03/15/avoid-these-pharmacies-that-mark-up-generic-drugs-a-ridiculous-amount/#comment-1998 Bargain Quest » Comparison Shop Those Generic Drugs Fri, 23 Mar 2007 12:22:35 +0000 http://www.mytwodollars.com/2007/03/15/avoid-these-pharmacies-that-mark-up-generic-drugs-a-ridiculous-amount/#comment-1998 [...] It’s worse than I thought. After writing about my discoveries shopping around for drug prices, I was quite interested to read a Freakonomics blog post “If Crack Dealers Took Lessons From Walgreens They Would Really Be Rich,” inspired by a Wall Street Journal story “Why Generic Doesn’t Always Mean Cheap” (Found through My Two Dollars - “Avoid These Pharmacies That Mark Up Drugs a Ridiculous Amount.”) [...] [...] It’s worse than I thought. After writing about my discoveries shopping around for drug prices, I was quite interested to read a Freakonomics blog post “If Crack Dealers Took Lessons From Walgreens They Would Really Be Rich,” inspired by a Wall Street Journal story “Why Generic Doesn’t Always Mean Cheap” (Found through My Two Dollars – “Avoid These Pharmacies That Mark Up Drugs a Ridiculous Amount.”) [...]

]]> By: davidhttp://www.mytwodollars.com/2007/03/15/avoid-these-pharmacies-that-mark-up-generic-drugs-a-ridiculous-amount/#comment-1825 david Fri, 16 Mar 2007 22:34:41 +0000 http://www.mytwodollars.com/2007/03/15/avoid-these-pharmacies-that-mark-up-generic-drugs-a-ridiculous-amount/#comment-1825 Good point Kellie! Our prescription copay is $10 no matter where we buy...but for those without insurance, please shop around! Good point Kellie! Our prescription copay is $10 no matter where we buy…but for those without insurance, please shop around!

]]> By: Kelliehttp://www.mytwodollars.com/2007/03/15/avoid-these-pharmacies-that-mark-up-generic-drugs-a-ridiculous-amount/#comment-1824 Kellie Fri, 16 Mar 2007 22:28:25 +0000 http://www.mytwodollars.com/2007/03/15/avoid-these-pharmacies-that-mark-up-generic-drugs-a-ridiculous-amount/#comment-1824 It should be pointed out that this only matters to people who do not have insurance and pay the cash price. Then they would want to shop around and see who offers a better deal. However, if you have insurance no matter what the pharmacy charges - the insurance company knows the usual and customary charge for that medication and that is what they will base the co-insurance on. So if you pay a percentage copay (technically called a co-insurance) and your pharmacy charges $50 for your prescription but the U&C is $30, the insurance will figure your copay based on the U&C. It doesn't matter what the pharmacy charges or what the U&C is if you pay a flat copay (like $10 for generics and $20 for brand). This is the same for hospital charges. Every noticed your itemized statement of charges totals are different than what your insurance actually paid? It's because of the U&C. It should be pointed out that this only matters to people who do not have insurance and pay the cash price. Then they would want to shop around and see who offers a better deal. However, if you have insurance no matter what the pharmacy charges – the insurance company knows the usual and customary charge for that medication and that is what they will base the co-insurance on. So if you pay a percentage copay (technically called a co-insurance) and your pharmacy charges $50 for your prescription but the U&C is $30, the insurance will figure your copay based on the U&C. It doesn’t matter what the pharmacy charges or what the U&C is if you pay a flat copay (like $10 for generics and $20 for brand).

This is the same for hospital charges. Every noticed your itemized statement of charges totals are different than what your insurance actually paid? It’s because of the U&C.

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