Skip to: Content
Skip to: Site Navigation
Skip to: Search

July 25, 2008 7:33:15 AM CDT

Learn about Newser Points »

« Back to the grid | Next story »

Insurers Quietly Hike Rx Costs

Posted Apr 14, 08 9:47 AM CDT in Science & Health,  Business 

(Newser) – Pricey prescription drugs are getting pricier, and, the New York Times reports, insurance companies are asking patients to shoulder more of the burden. Insurers are quietly phasing out traditional drug plans, which charge a fixed co-pay of $20 or $30 to fill a prescription, in favor of so-called Tier 4 plans, which squeeze patients who need certain expensive drugs for as much as a third of their cost—which can run to thousands of dollars a month.

Tier 4 began with Medicare, but has bled into traditional plans, including the ones offered by employers—often with minimal and inconspicuous notification. One MS victim saw her co-pays suddenly soar from $20 for a month's supply to $325. “This is an erosion of the traditional concept of insurance,” one health economist says. “Those beneficiaries who bear the burden of illness are also bearing the burden of cost.”

Source New York Times

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon

Related Newser Stories

  • Insurer Ties Employee Pay to Patient Health

    Apr 4, 07 8:32 AM CDT
    Insurer Ties Employee Pay to Patient Health The country's largest health insurer says it will pay up for good health--offering bonuses to employees who boost patients' use of preventive medical services. WellPoint Inc.'s plan is intended to encourage participation in programs like diabetes management, which helps patients handle their medical needs before they end up in the emergency room. More »

Pharmacist Salvatore Ciolino, Jr. reaches for a prescription bottle at a Gloucester, Mass. pharmacy, Friday, Dec. 14, 2007.   (AP Photo/Lisa Poole)
Chart shows average percentage change in manufacturer prices for brand name prescription drugs and average change in cost of therapy for chronic conditions, 2002 to 2007   (AP Photo)
Shelves of prescription drugs sit on display at Maximart Pharmacy in Palo Alto, Calif., Friday, Dec. 14, 2007.   (AP Photo/Paul Sakuma)
« Prev« Prev | Next »Next » Slideshow
Our editors also recommend:

Threads (1 of 1)

Tags

health care  • prescription drugs  • insurance  • drug companies  • insurance companies  • co-pays


Loading...

Loading...

Today's Most Popular


Other Business Stories

What is Newser?

2008 Codie Finalist

Newser gives you more news in less time. We search for the best and most important stories all over the web, read them for you, and deliver concise and sharp summaries—along with links to the full text. Newser provides a way to stay on top of an ever-expanding horizon of news and opinion—politics, sports, business, trends, technology, personalities, crimes, and controversies. Newser keeps you not just better informed, but, with our signature graphic interface and smart condensed format, more enjoyably informed.

Learn more »