WRAL TV

Before the story airs: WRAL Investigates: Generic prescription overcharging

Posted October 30, 2014 4:25 p.m. EDT
Updated November 3, 2014 1:37 p.m. EST

I'm very lucky to have health insurance that includes prescription drug coverage. If I need to get a prescription filled, I go to my pharmacy and pay a small co-pay. Assuming the medication is expensive, I'm thankful for only having to pay $10 (in most cases) for a month's supply. Insurance should give you the best deal on your prescription meds, right?

Wrong.

Hundreds of generic prescription medications can be bought for LESS than your insurance co-pay. These drugs treat high blood pressure, high cholesterol, diabetes and arthritis. They include antibiotics, antidepressants and pain relievers. In fact, we found out those low prices are available to everyone, whether they have insurance or not.

WRAL Investigates reveals the true cost of generic medications. We looked into how much pharmacies across the country pay for nearly every prescribed drug in the U.S. Chances are the generic meds you and your family are taking -- really only cost just pennies a pill. Sure, pharmacies have to make a profit. But as one doctor put it -- you're likely "getting ripped off." WRAL Investigates lets you know where you can find generic prescription drugs for cheaper than what you would pay with insurance elsewhere. We talked with one woman who takes six prescription drugs and found she could save hundreds of dollars a year, just by shopping around! We also reached out to the North Carolina Association of Pharmacists for comment on this story.

If you're paying the insurance co-pay on a generic medication, you're likely paying too much.

Watch Monday at 5:30 p.m. to find out how you can save on your prescription medication costs. Watch a preview of the story below: