Jared S. Hopkins
speaker
109 appearances
3 recordings
1 series
first heard Jan 2020
last heard Nov 2024
Jared S. Hopkins’s voice in public audio — every appearance, attributed to the second.
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Appearances
If there's 2,000 different prescription drug plans, there might be 2,000 different prices.
And they might range from the lowest price, costing Medicare maybe $50, $60.
And it could go all the way up where the most expensive price is maybe $8,000, $10,000.
Medicare is the largest purchaser of drugs.
It's
They pick a plan, and they can go online, and they can put in what drug and what it would cost them from a copay perspective or a coinsurance.
And eventually, they pick a prescription drug plan.
It's not unlike what individuals have on the commercial market.
It might differ, though, in terms of pricing and in terms of formulary or what type of drugs their Medicare plan will cover.
So Medicare shares costs with patients, and patients usually pay a percentage of the drug cost, which is typically a copay or what's known as a coinsurance, which is a percentage of the overall cost.
I mean, how much time do we have here?
So the complex, complicated nature of the US healthcare system is why we have so many different prices here with so much different variability.
There is a factor such as just geography.
where people live is going to affect the overall cost of the drug.
You also have sort of what pharmacy they are picking it up at.
hundreds or thousands upon prices for some drugs.
A drug might have more than 2,200 prices across all the different health plans.
If there's 2,000 different prescription drug plans, there might be 2,000 different prices.
And they might range from the lowest price, costing Medicare, I don't know, maybe $50, $60.
And it could go all the way up
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