FTC sending refunds over CVS business overcharging

September 4, 2012

(AP)—The Federal Trade Commission says it is mailing refund checks to 13,000 Medicare beneficiaries who were overcharged for drugs because a CVS Caremark Corp. business understated the price of the products.

The FTC says its redress administrator Rust Consulting Inc. began mailing the checks Tuesday. The checks are valid for 60 days from the date they were issued and they must be cashed within that time.

CVS Caremark agreed to pay $5 million in January to resolve allegations that RxAmerica understated the price of medications that treat epilepsy and symptoms of , among other drugs. CVS Caremark said RxAmerica accidentally published incorrect drug price information on a Medicare site.

The inaccurate prices appeared before CVS bought RxAmerica and appear to have ended shortly after CVS bought the company.

Explore further: The missing link in the evolution of magnetic cataclysmic stars?

shares

Related Stories

Berkshire buys 5 pct of IBM, takes other stakes

November 14, 2011

(AP) -- Warren Buffett said Monday that his company has spent $10.7 billion to buy more than 5 percent of IBM's stock this year, a surprising move by the billionaire investor who has long shied away from investing in high ...

Recommended for you

Mylan launching cheaper, generic version of EpiPen

August 29, 2016

Mylan will start selling a cheaper version of its EpiPen after absorbing waves of criticism over a list price for the emergency allergy treatment that has grown to $608 for a two-pack, making it unaffordable for many patients.

Can exercise be replaced with a pill?

October 2, 2015

Everyone knows that exercise improves health, and ongoing research continues to uncover increasingly detailed information on its benefits for metabolism, circulation, and improved functioning of organs such as the heart, ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.