Maryland pharmacies close as drug reimbursements squeeze stores

HANCOCK, Md. — For 21 years, Ken Reed kept his pharmacy open in this small Western Maryland town, filling prescriptions for neighbors who knew the pharmacist by name and sometimes stopped in simply to ask a question about their health.

Then the economics stopped making sense.

Reed said some prescription drugs cost his pharmacy more to buy than insurance middlemen paid him to dispense. An insulin prescription that cost his pharmacy about $400, he said, could bring only about $200 in reimbursement...

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