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Lawsuit settlement may result in refunds for Medicare Part B subscribers
Friday, 08 April 2011 11:03

Lawsuit settlement may result in refunds for Medicare Part B subscribersLawsuit settlement may result in refunds for Medicare Part B subscribersA recent class action lawsuit involving approximately 200 medications and several drug manufacturers has reached a proposed settlement. The drugs included treatments for cancer, HIV, pain and inflammation, gastrointestinal illnesses, allergies and infections. According to the lawsuit, consumers - and Medicare Part B subscribers in particular - may have paid too much for these products.

In response to these allegations, the manufacturers have agreed to pay $125 million. Of these funds, an estimated $21.8 million will be refunded in consumer claims, including those of Medicare Part B beneficiaries.

Individuals who subscribe to this type of plan are eligible to receive a refund if they made percentage co-payments that were not covered by Medicare. Such fees tend to vary with the cost of the drug, while a flat co-payment is not dependent on the price of the medication.

Eligible consumers who made percentage co-payments between 1991 and 2005 should file claims by July 1, 2011.

"This settlement is a victory for the millions of Medicare Part B subscribers who overpaid for prescription medications," said class counsel Edward Notargiacomo.
 

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