New law puts more information in hands of prescription buyers - WGEM
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QUINCY (WGEM) - A new Illinois law aims to put more information into the hands of those paying for a prescription. The law requires pharmacies to disclose a drug’s retail price to customers in order to ensure customers are paying the right price for their medications.
Robert Ritchey, the administrative director of pharmacy for Blessing Health, says customers previously could make 10 requests for the price for medications.
This law grants them access to the price for any medication.
At Brown Pharmacy, which is owned by Blessing Health, Ritchey says they already have been working to inform customers of retail drug prices to make sure they are not overpaying.
“That provides the customer with the information of what’s going to be billed to their insurance besides what they are normally gonna pay on a co-pay, and we want to make sure that they never get upside down on that,” Ritchey said.
Ritchey says many companies, such as CVS, offer rewards programs to keep prices down, and there are apps like Good R-X, as well.
He says Brown’s also recommends generic brands at times to help customers save money.
The new law will help make sure customers don’t get stuck paying more for a prescription than the actual retain price.
“The insurance will cover a majority of that cost for you, especially Medicare, Medicaid and private insurance,” Ritchey said. “Then you are left with a co-pay instead so maybe a $10 or $7 co-pay, instead of the usual and customary price that we would use to cover our costs.”
Ritchie says he doesn’t expect many pharmacies to lose much money off of this bill.
He believes it’s beneficial to ensure the customer is well informed about what they are paying for.
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source: https://www.wgem.com/2022/01/04/new-law-puts-more-information-hands-prescription-buyers/
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