BIG FAT PHARMA
The term for the amount a pharmaceutical company initially charges for a medication before insurance negotiations and discounts
What is List price?
The amount a patient pays each month to maintain their health insurance coverage
What is a premium?
PBM stands for...
What is a Pharmacy Benefit Manager?
True or false: Generic drugs have the same active ingredient as their brand-name counterparts
What is True?
The generic name for Advil
What is Ibuprofen?
A drug company sets a high list price, but the patient still pays a large amount because their insurance has a high deductible. Who ultimately feels the impact of that price?
What is the patient?
the amount a patient must pay out-of-pocket before insurance begins paying for many covered services
What is a deductible?
This term describes the amount a patient is responsible for paying themselves rather than having insurance cover it.
What is out-of-pocket cost?
Some narratives blame this group for inventing conditions or releasing viruses for monetary gain?
What is Big Pharma?
The generic name for Tylenol
Acetaminophen
This federal agency is responsible for approving new drugs and ensuring they are safe and effective before they reach the market.
What is the FDA?
This is the fixed amount a patient typically pays for a covered service or prescription, such as $20 for a doctor visit.
What is a copay?
When a drug company offers money back to an insurer or PBM after a medication is purchased, this is called a...
What is a rebate?
A false political claim from 2009 alleged that the Affordable Care Act (ACA), commonly called Obamacare, would create government committees to decide whether elderly or disabled patients were "worthy" of medical care.
What is the "Death Panel" Myth?
The generic name for Prozac
Fluoxetine
Name one reason pharmaceutical companies justify high prices for some new medications
What are research and development costs, clinical trials, regulatory approval, and the need to recover investment?
A patient is told their insurance will only cover a cheaper medication before approving the one their doctor prescribed. What insurance process might be involved?
Prior authorization
True or false: The United States spends more on prescription drugs per person than most other wealthy countries.
What is true?
BLANK is a federal government-run website designed to "lower" out-of-pocket prescription drug costs for American consumers by enabling direct-to-consumer purchases at discounted rates-- but does not do what advertised.
What is TrumpRx?
The generic name for Claritin
What is Loratadine?
A pharmaceutical company may receive this legal protection that prevents competitors from selling the same drug for a certain period of time.
What is a patent?
An insurance company refuses to cover a medication because it is not on its approved list. What is this list called?
What is a formulary?
What is one major way PBMs attempt to lower prescription drug costs for insurance plans?
What is negotiating rebates/discounts with pharmaceutical companies?
BLANK, a Connecticut-based pharmaceutical company, took extreme measures by purposely choosing not-as-highly-trained physicians to prescribe the addictive drug and were sued for their contribution to the opioid crisis.
What is Purdue Pharma?
The generic name for Benadryl
What is diphenhydramine?