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Author: intercst Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19221  
Subject: Re: Medicare Part D - Estimate Costs Date: 8/6/2013 5:28 PM
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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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