Many patients with health insurance are still over-paying for their prescriptions, according to Pharmaceutical Research and Manufacturers of America (PhRMA).  Priscilla VanderVeer, spokeswoman for the organization, observed many patients still have a "hard time affording their medicines". She criticized the current system in which consumers often end up paying the full list price for medication, even when they have medical cover. 

"When a patient goes to the pharmacy counter and they haven’t reached their deductible, or they have a coinsurance on their drugs, they’re [often] paying that off the list price, not the negotiated rate their insurance has," she told Kaiser Health News. This is not common practice in other areas of healthcare, where cost-sharing is based on the lower rate negotiated for patients with health insurance, VanderVeer observed. 

Patients with insurance can still save money on prescription medication using ModRN Health. When prices are high on branded medication, there may be a generic alternative available at a lower price. For more advice on switching to a cheaper generic drug, speak to your local pharmacist or physician to discuss generic alternatives. Even patients who require branded medication may find there are better prices online than the cash price they pay at the counter. Using vouchers for over-the-the-counter medication or prescription drugs such as Lipitor may work out cheaper than claiming through an insurance policy. This is because co-pays are often more than the online prices and because the price you pay at the counter in the pharmacy may be based on the full list price. 

PhRMA recently launched it's "Share the Savings" campaign to raise awareness of this issue and to educate consumers about the lack of rebate for insured patients with high deductibles and coinsurance. The campaign cites research from Amundsen Consulting, which found more than half the out-of-pocket spending for brand medicines by insured patients is based on the list prices. ModRN Health can help you make smarter decisions and find the lowest drug prices near you. We can even help insured patients, helping you reduce healthcare expenses and save money on prescriptions.