Insurance Companies Are The Problem, Not The Solution
I have chronic heart burn and I have to take medication for that heart burn. The best drug that works for me is Nexium. But, I don't take that because my insurance co-pay is too expensive. If I did take that, I would only have to take one per day.
Because Nexium isn't a preferred drug on the insurance policy, I have to take two per day of Priolsec (or its generic equivalent). So, instead of 30 pills per month, I take 60 pills per month. If I miss a pill, I have a horrible few hours until the next pill kicks in.
I thought I would do a little research on what the real cost is.
The total cost per month for my prescription is $153.99. Because I have a reasonable insurance plan, my co pay for that drug is $10.00 and the pharmacy is proud to say that I "saved" $143.99.
I decided to look at Amazon.com for comparisons.
Here is what I found. I can buy my drugs over the counter, with no prescription, - the brand name version Prilosec OTC for $38.96 per month. But, the insurance company doesn't pay anything; I am responsible for the full price.
I can also buy a generic version of the drug for $28.56 per month. Again, the insurance company is not willing to pay anything, so I have to pick up the full tab. I choose, like most people do, to have the insurance company pick up the cost. I figure the economic choice is simple. I can pay $10.00, $28.56 or $38.96 per month. I figure I pay $600 per month for my plan, I am going to use it to it's fullest.
Why should I pay 3 or 4 times the cost when I already am paying my insurance company so much to do that for me.
Which would you choose?
I find this fascinating because they are the exact same drug. Exact same dosage. Different package and different marketing route.
I think my head will explode if I hear one more politician say that we need health insurance for everyone. I am at the edge of dumping mine because of stupid pricing schemes like this one.
Hey, insurance company... I'll give you a $30 co-pay for a six month supply if you let me buy the generic over the counter stuff... I'll save $60 per year and you'll save $1,445.16.
Oh... they really didn't save me $143.99... they saved me $18.56.
Corey Smith is the president of Tribute Media a web development firm providing high performing, industry specific websites. He is a businessman, writer, technology fanatic, graphic designer and web developer. His greatest passion is teaching, consulting and speaking.
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