Eliminating Copays Lowers Costs For Insurers

Rand Health recently conducted a study which shows that insurance companies can save money each year by covering the entire cost of statin drugs, instead of forcing consumers to pay a copay for the medication. According to the study, patients are more likely to take cholesterol-reducing statin drugs if they do not have to pay out-of-pocket for them, and the statin drugs prevent health problems that are extremely costly. Researchers for the study say that this conclusion could be extended to include coverage for other drugs, including asthma or diabetes medication - insurers could reduce costs by eliminating the patient copay for these drugs as well.