CLOSINGS: View Closings

Some Aetna customers will see lower drug prices

About 3 million Aetna customers could get a break at the pharmacy next year.The health insurer announced Tuesd...

Posted: Mar 28, 2018 10:16 AM
Updated: Mar 28, 2018 10:16 AM

About 3 million Aetna customers could get a break at the pharmacy next year.

The health insurer announced Tuesday it would pass along to consumers the rebates it receives from drug manufacturers, starting January 1. This will apply to people enrolled in a certain type of job-based insurance coverage.

"We have always believed that consumers should benefit from discounts and rebates that we negotiate with drug manufacturers," said Aetna CEO Mark Bertolini. He noted that drug prices have increased nearly 25% between 2012 and 2016. "Going forward, we hope this additional transparency will encourage these companies to rationalize their pricing and end the practice of annual double-digit price increases."

Related: UnitedHealthcare will pass along drug discounts to some customers

The move comes three weeks after rival UnitedHealthcare said it would do the same for its 7 million consumers who are on the same type of job-based plans. UnitedHealthcare said the discounts can range from a few dollars to more than $1,000, depending on the medication.

Insurers say they usually funnel the rebates into lowering customers' monthly premiums.

Drug prices are now in the spotlight, with President Donald Trump and his administration promising to lower the cost of prescription medicine. The administration's fiscal 2019 budget proposes passing along more drug rebates to Medicare enrollees.

Aetna, one of the nation's largest health insurers, is in the process of being acquired by CVS, which runs a pharmacy benefits manager that helps negotiate discounts from drug manufacturers.

Article Comments

Terre Haute
Few Clouds
83° wxIcon
Hi: 87° Lo: 62°
Feels Like: 84°
Robinson
Clear
84° wxIcon
Hi: 86° Lo: 59°
Feels Like: 86°
Indianapolis
Broken Clouds
80° wxIcon
Hi: 82° Lo: 61°
Feels Like: 81°
Rockville
Few Clouds
83° wxIcon
Hi: 84° Lo: 61°
Feels Like: 84°
Casey
Scattered Clouds
85° wxIcon
Hi: 84° Lo: 61°
Feels Like: 86°
Brazil
Few Clouds
83° wxIcon
Hi: 84° Lo: 61°
Feels Like: 84°
Marshall
Few Clouds
83° wxIcon
Hi: 84° Lo: 60°
Feels Like: 84°
Sunny and warm again.
WTHI Planner
WTHI Temps
WTHI Radar

Latest Video

Image

News 10's 1995 Coverage of case involving Jerry Russell Sr.

Image

Tuesday Afternoon Weather

Image

Fall Time Healing With Judy Monday September 23rd 1pm-4pm

Image

Tuesday: partly cloudy, warm. high: 86

Image

All You Need to Know for Tuesday

Image

WV vs. Northview

Image

Monday Late Forecast

Image

NAACP and VCSC team up to discuss school safety and gun violence

Image

ISU preps for EIU

Image

Moala wins MVFC DPOW

WTHI Events