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URL:  http://boards.fool.com/pauleckler-writes-ltltmedco-is-basically-a-30813780.aspx

Subject:  Re: Medicare Part D - Estimate Costs Date:  8/6/2013  5:28 PM
Author:  intercst Number:  18585 of 19222

pauleckler writes,

<<Medco is basically a complete fraud.>>

Let's keep in mind that insurance is not about someone else pays your bills, but rather that you pay into the pool a predictable amount when you are healthy, and the pool then pays your bills when you are ill.

</snip>


I understand the concept of an insurance pool.

My problem with Medco is that they charge my insurance company 3 or 4 times the cash price at Costco, and my co-pay is 30% on some of the prescriptions.

What Medco charged the insurance company used to be secret until they were charged with a massive nationwide fraud. As part of the settlement, they now have to disclose prices to their customers.

http://www.badfaithinsurance.org/reference/LMCOPBM/0016a.pdf...

There's more disclosure from Medco today, but the same price gouging. That's why the cash price at Costco is often less than the co-pay with Medco.

intercst

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