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Jan 25
2012
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More from the "greed and scam" department!Posted by: drmishner on Jan 25, 2012 Tagged in: prescription drugs , Federal Trade Commission
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“The Federal Trade Commission announced that CVS Caremark Corp. agreed to pay $5 million to settle a complaint that it misinformed seniors about the price of certain Medicare Part D prescription drugs sold through CVS and Walgreens pharmacies.
The action by the company, according to the FTC, caused seniors and consumers with disabilities to pay significantly more for drugs. It also pushed them more quickly into the so-called “doughnut hole,” in which drug costs aren’t covered by the federal program.
The FTC says Caremark offers drug plans through its subsidiary RxAmerica, acquired in 2008. Consumers shopping for a drug plan looked up the prices of drugs on RxAmerica’s website, where the prices were low-balled, the FTC says. Sometimes, the agency says, the actual price of the drugs was more than 10 times the price quoted online.
The money will be used to reimburse consumers.”







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