ED Magedson – Founder
MEDCO - Medco Health Solutionspo box 6052 parsippany, New Jersey United States of America
I am a lady that is living with cancer. After I was diagnosed andreached the point when I could no longer work my former employer filed incorrect termination dates with COBRA which led to a 5 month battle to get that problem corrected. During this 5 months I had no prescription coverage. All medication cost was paid out of pocket. When my insurance problem was straightened out I had to pay the monthly premium cost (6 months X monthly premium). I was told to submit receipts and pharmacy printouts to MEDCO for reimbursement. This is what happened and I promise it will show you how much these companies fight there customers.
With insurance you pay 1 copay for a monthly supply. It is normally a round figure like $ 10. With no insurance I had to buy 3 to 5 pills at a time. The cost is very high. Here is how they calculated there responsibility. This is an actual example.
I paid $38.59 for 3 pills (the copay for 30 pills is $40)
MEDCO replied saying the approved amount for this claim is $29.02. Copay amount is $29.02. Total payable by MEDCO is $ 0.00.
It goes on page after page. 95% of the specific claims have the approved amount as equal to copay amount. Leaving MEDCO owing nothing. Copay amounts are on a sliding scale. And this is the truth - the copay amount for 5 pills is more than the copay for 30, if you pay $50 dollars out of pocket or $ 5 the copay amount adjust magically to MEDCO 's approved amount, in the rare case that they agree to pay on a claim then the amount they say a drug should cost is applied and not what a national chain like CVS would charge!
Out of $2000 of prescription cost MEDCO with their in house formula agreed to pay (drumroll)
ONLY (2000 X 0.07) of the cost, thats right %7. Has anyone else experienced this type of problem? Has legal action ever taken place for this?
This report was posted on Ripoff Report on 09/30/2009 06:25 AM and is a permanent record located here: http://www.ripoffreport.com/r/MEDCO-Medco-Health-Solutions/parsippany-New-Jersey-07054-7052/MEDCO-Medco-Health-Solutions-will-not-reimburse-prescription-cost-Can-someone-help-with-501997. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
If you would like to see more Rip-off Reports on this company/individual, search here:Search Tips
In order to assure the best results in your search:
Advertisers above have met our
strict standards for business conduct.