00:00Your local pharmacy loses money on prescriptions, while your monthly insurance premiums keep rising every single year.
00:08Invisible middlemen called pharmacy benefit managers negotiate the hidden prices you pay for every single medical pill.
00:16These massive entities earn their billions by taking a specific percentage of a drug's high sticker price.
00:23This creates a perverse financial incentive for them to keep the list prices of medicine artificially high.
00:31A cheaper generic drug offers them smaller kickbacks than a branded version with those massive rebates.
00:39They frequently use spread pricing to charge your insurance company more than they pay the pharmacist.
00:45Your total copay often exceeds the actual wholesale cost of the medication due to hidden clawbacks.
00:52Drug manufacturers hike their prices just to stay on the approved lists controlled by three giants.
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