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Blue Shield of California, a healthinsurancecompany that covers almost 5 million people, is restructuring how it will pay for prescription drugs by dividing the work up among five different vendors — two of which include Amazon and Mark Cuban’s pharmacy company.
The sausage-making of how insulin is priced is not for the faint of heart. It’s a complex tangle of drug manufacturers who’ve been resisting generics , healthinsurancecompanies trying to keep up impressive profits , plus the wholesalers who distribute medicines to pharmacies and the pharmacies that provide them to patients.
These include things like making sure patients aren’t paying more for their medicines than their healthinsurancecompany or requiring first-dollar coverage, so insurancecompanies cover the cost of certain lifesaving medicines from day one of the plan year. Here's how the program is (not) working.
For example, members can compare drugprices at pharmacies or find a network provider. So it’s key to find a pharmacy partner, whether a PBM or a healthinsurancecompany, that will agree to transparency. It’s tools like our app that help us consistently get top ratings in member surveys.
WASHINGTON — The Biden administration is appealing a court ruling against a Trump-era regulation that aimed to protect the way healthinsurancecompanies handle some prescription drug costs — a rare moment of harmony between the two administration’s approaches to drugpricing reform.
The executive order promises “radical transparency” on health care prices for patients by ordering the Departments of the Treasury, Labor, and Health and Human Services “to rapidly implement and enforce the health care price transparency regulations.”
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