Overpriced Prescriptions: from National Consumer Protection Week (NCPW)

Overpriced Prescriptions

January 12th, 2012 by Amy

Paying for medications can be a struggle. So for some seniors and people with disabilities, the prospect of money back in their pockets might be welcome news.

In a settlement with the FTC, CVS Caremark Corporation will pay $5 million to settle charges that its RxAmerica subsidiary misrepresented the prices of certain Medicare Part D prescription drugs at CVS and Walgreens pharmacies. As a result, many RxAmerica enrollees paid significantly more for their drugs and were pushed into the “donut hole” of Part D coverage — the coverage gap where none of their drug costs are reimbursed — sooner than they expected. The $5 million will be used by the FTC to reimburse affected Medicare Part D consumers for the price discrepancy. If you are due to be reimbursed, there’s no need to do anything. The FTC will be sending checks to eligible consumers once the order becomes final.

Speaking of older consumers, if you’re looking for reliable sources of information on health topics important to older consumers, check out ftc.gov/whocares. You’ll find articles on topics including Medicare Part D Plans, Buying Prescription Drugs Online, and Generic Drugs and Switching Prescriptions.

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One Response to Overpriced Prescriptions

kathyv says:
%A %B %e%q, %Y at %I:%M %p

i recently paid 389.00 for a rx and was told i had to pay the hole fee until my next rx but still i pay 40% of my ssi check on meds.I sure hope I do recieve money back.

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