Cremation Consultants Available 24/7

Sunshine Cremation Services - Palm Beach, Broward, Miami-Dade > Blogs > Insurers Forced to Disclose What They Pay For Prescription Drugs

Insurers Forced to Disclose What They Pay For Prescription Drugs

Prescription Drug Costs

Have you ever asked your insurance company what it pays for prescription drugs? 

I’ll give you a hint, they won’t tell you.

Everyone knows that insurance companies do not pay the same price for prescription drugs as consumers without insurance, but no one knows how much less they pay for any individual drug.

It is nearly impossible for consumers to learn what their insurer actually pays for prescription drugs.  This lack of transparency reinforces the perception that consumers are being ripped off by drug manufacturers and insurance companies.   

New Health Insurance Rules

Finally, Washington regulators have done something to shed light on the real cost of healthcare.

There are now new rules that require health insurance companies to disclose the negotiated price that they pay for drugs.

The new rule goes into effect in 2022 and this important cost information will be accessible via the internet. 

If you would like to learn more about this development, click here for a Kaiser Health News summary of the initiative, or here for a summary provided by the Centers for Medicare & Medicaid Services.  

Leave a Comment

9070 Kimberly Boulevard
Boca Raton, FL 33434

© 2023 Sunshine Cremation Services LLC. ALL RIGHTS RESERVED. Privacy Notice.

All Funeral Services will be provided by either Sunshine Cremation Services or its parent company Kronish, Sunshine & Co., a licensed funeral establishment. This website is for informational purposes only. No funeral services are being offered and sold herein.