Even worse many times the "discount" or part of it is not a reduction in price but a refund from the drug company back to the insurer. So if you haven't met your deductible you may pay $300 for the drug but your insurance company is getting $100 refunded to them that goes into their coffers even though they expended nothing in the transaction.

In fact if you don't submit the claim for the medication to your insurance you may be able to reap that $100 of savings yourself in the form of a discount. Until very recently when the law changed to prevent it the contracts insurance companies had with pharmacies prevented your pharmacist from telling you that a drug could be obtained cheaper by not using your insurance.