Insurance formularies are shrinking, limiting coverage for prescription drugs, exposing patients to hurdles and limited access, highlighting the impact of high drug prices alongside poor insurance coverage.
Commercial insurance plans offer even more restricted drug coverage compared to Medicare, with additional barriers like prior authorization that complicate the drug acquisition process, potentially discouraging prescription fills.
Insurance companies utilize limited formularies and access restrictions to bolster negotiation power, favoring pharmacy benefit managers in tackling rising drug costs and spending.
#insurance-coverage #prescription-drugs #healthcare-economics #health-insurance #access-to-medication
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