Prescription Costs: What to Do About Them
5 ways to save on rising prescription drug costs from Consumer Reports.
As I mentioned in a prior post, most of my patients are noticing double digit increases in prescription drug costs annually, higher deductibles, less drugs covered and approval delays in getting prescriptions filled. For those with a Medicare D drug plan, this means they reach the "donut hole" at $2,700 much sooner, with no help with the ensuing several thousand dollars in prescription drug costs. Studies show that more than a quarter of patients reduce or stop refilling their medicines when they reach the Part D coverage gap.
Reducing prescription drug costs should be on every doctor's and patient's mind. It's certainly on my mind, especially if that means my patients continue to take necessary medications that I have prescribed. In fact, while reading the January 2016 issue of Consumer Reports magazine, I noticed this published report that may help my patients. Read the article, Save Money on your Medicines, and note the following conclusions:
1. Skip the chain drugstores. CVS, Walgreens & RiteAid had the highest prices for all drugs surveyed by Consumer Reports:
2. Don't always use your insurance. Common generic prescription drug medicines are often priced lower than insurance deductibles.
3. Always ask "Is this your lowest price?" Contracts for Medicare D and other insurance plans prohibit pharmacists from offering a better cash price unless customers ask.
4. Search online. Check GoodRx.com to find the best price. Use this information to negotiate if a pharmacist quotes you a higher price.
5. Buy online. You can fill a prescription with an online pharmacy. Consumer Reports found that HealthWarehouse.com had the lowest prices overall. Choose an online pharmacy in the U.S. that displays the “VIPPS” symbol to show that it’s a Verified Internet Pharmacy Practice Site (by the National Association of Boards of Pharmacy (NABP), a nonprofit organization that accredits pharmacy websites).
