Seems to depend on a case by case basis.
My math worked out great. Previously I paid 50% of the premium for my company's blue cross PPO group health insurance plan to the tune of $400/mo. It had a $60 copay, $60 drug copay, and $5000 annual deductible.
Now I pay $350/mo for a blue cross Silver PPO with the same doctors I had before. It has a $30 copay, $150 drug copay (the drug copay seems to be where the insurance companies are really jacking up prices, I guess since they can't stop you from signing up if you're already sick) and I think a $4000 annual deductible. Thanks to my employer not being an asshole and giving me the other $400/mo it used to contribute towards my insurance, I'm coming out on top even after the extra $150/mo for my meds.