4/8/14 Bloomberg Columnist Attacks Drug Coupons:
Obamacare Needs to Start Clipping Drug Coupons … coupons for pricey drugs are a bit of a racket … Your doctor, however, isn't paying the cost of the drug; your insurance company is … Drugmakers know this, and they offer some patients coupons offsetting that copayment … What looks like a freebie ends up being anything but … Massachusetts banned those programs in 1988, and the state has one of the country's lowest levels of spending on prescription drugs as a share of total health-care costs … [Bloomberg View]
The above piece implies that Massachusetts has one of the lowest levels of spending on prescription drugs as a share of total health-care costs due to it's former stance of "no drug coupons allowed".
However, according to the data source referenced in the piece, a 2009 spreadsheet compiled by Kaiser Permanente, an insurance company with a bias against drug coupons, 3 states and the district of Colombia, which allow coupons have LOWER levels of spending than Massachusetts.
Vermont has an identical level of spending on prescription drugs and it also allows coupons, so your argument is entirely spurious.
In addition, the $32 billion figure that coupons allegedly inflate drug spending is based on a biased report compiled by by a consortium of insurance companies and PBM's who dislike coupons because coupons cut into their profit margins. This report's methodology has been questioned by experts who study the healthcare supply chain and discredited by experts who study the healthcare supply chain.
The fact is that drug coupons redistribute cost savings away from the PBM’s and insurance companies and place the savings directly in the pockets of consumers.
2 Ways To Save Money On Your Drug Bills Starting Today:
1 - Use Drug Coupons to reduce your Co-Pay - that's how most people use them!
We maintain the largest database of manufacturer drug coupons on the internet. We check each link once per week to weed out expired coupons.
2 - Try Our Free Drug Buying Group For The Uninsured Or People With High Copays
We got the idea from they way the AAA card gets you discounts on hotel rooms. We started in 2007 and now more than 22,000 people use our buying group coupons each month!
Drugstores give our members a group rate discount on their prescriptions because we steer thousands of cash paying customers to their store. It's accepted at all the big chains and most privately owned drugstores!