This app has saved Americans $10 billion on prescriptions so far Disruptor50
Even with insurance, Americans are struggling to pay for medications. Since Obamacare, more and more Americans have insurance, but most are underinsured. A recent report by the Kaiser Family Foundation found that 40% of Americans have a high-deductible health insurance plan that requires them to pay more than $1,000 out of pocket before insurance kicks in. Yet less than half of Americans have $1,000 in emergency savings.
Americans are struggling to pay for prescription drugs which have huge consequences for their health.But the site only has access to information on how much patients would pay without insurance. Pricing agreements between insurance companies and pharmacies are not available, and patients generally cannot get that information until they get to the pharmacy counter.
There are now various bills pushing for more transparency around health-care costs, including prescription drugs, at the federal level and in most states. There's discussion on both the state and federal level about creating expert review boards to examine pricing and evaluate ways to reduce prices or focus on price gouging by requiring companies to justify huge price increases.
The pharmaceutical industry, which says pricing information is a trade secret that should not be revealed, is fighting these transparency efforts through the legislatures and various lawsuits.
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