President Barack Obama promised affordable health insurance under his new law, and yes, Americans with serious illnesses are finding plans with relatively low monthly premiums. In a lot of cases, they’re getting first-time access to health insurance. But these cheap plans come with a staggering cost.
Enrollees are shocked at how much their prescriptions are costing as insurers create complex drug tiers, and in some cases charging co-insurance rates as high as 50 percent, leaving patients with thousands of dollars of copay.
“Avalere Health, a market research and consulting firm, estimates some consumers will pay 50 percent of the cost of their specialty drugs — that compares to about 30 percent in the private market.” writes AP.