Depending on how your health insurance is structured, you may be paying too much for your prescription medications, the Pharmaceutical Research and Manufacturers of America (PhRMA) said.
According to an April 6 release, the advocacy group claims patients with coverage through their employers rarely see the savings from negotiated rebates between drug makers and insurance companies. How much is at stake? Over 30 percent, according to research from The Berkeley Research Group.
PhRMA said that is why it recently launched Share the Savings, an ad campaign online and in print or radio broadcast, to make patients aware of potential cost savings.
PhRMA President and CEO Stephen Ubl said the campaign will increase transparency in health insurance.
“We need to ensure patients receive more of the benefit of price negotiations between biopharmaceutical companies and payers,” Ubl said in the release. “Providing access to discounted prices at the point-of-sale could dramatically lower patients’ out-of-pocket costs.”
To see the ads, go to http://PhRMA.org/discounts.