» How to Save on Prescriptions and Get Less Expensive Medications
February 22, 2023
Behavioral Health, Health Equity, Healthcare, Prescription Drugs
The rising cost of medications are a leading healthcare issue for people today. More than 40% of Americans reported struggling to pay for the cost of their medications, despite health insurance coverage.
When the cost of their prescriptions go up, people are forced to make tough decisions, including rationing necessary medications or skipping meals or medications.
This is bad for people and bad for employers who provide health benefits. Our goal is to help employers provide accessible and affordable healthcare, and expensive medications run headlong into this mission.
Here are resources for you to find lower-cost medications for yourself and your loved ones because no one should have to go without needed medicine due to costs:
Mark Cuban Cost Plus Drug Company
We’ve written about the MCCPDC before and it’s a great resource for people looking for low-cost medications.
MCCPDC is a resource for finding generic versions of prescription medications for pennies on the dollar.
If you receive a prescription from your doctor, this website has to be one of your first visits. In some cases, people are saving hundreds of dollars a month on their prescriptions.
Amazon Prime RxPass
Amazon has entered the prescription drug arena with RxPass and seems poised to crush the market.
Their offer is pretty compelling; Prime members pay a flat $5/month for eligible medications, versus $10-50+ a month at other pharmacies.
This is a great resource if you’re; A) paying more than $5 a month for medications, B) taking a generic medication that’s eligible for RxPass, or C) paying out-of-pocket for medications.
RxPass is great if you don’t have insurance or when your insurance doesn’t cover certain medications. People with diabetes, high blood pressure, and anxiety may have great experiences in particular with this program.
Not available in CA, LA, MN, NH, PA, TX and WA as of Feb 2023
GoodRx was an early entrant in this space, where they function as a PBM (Pharmacy Benefit Manager) and pass savings such as rebates through to consumers in the form of lower prices. Over the last six years, more than 55 million people have used its website or app.
You can easily search the price of medications and order a fill at a local pharmacy at a discounted price.
It’s worth pointing out that GoodRx was forced by the FTC to pay $1.5 million to settle health privacy allegations. They were accused of sharing PHI with Google, Facebook, and others. As a condition of the settlement, RoodRx is banned from sharing health data with other companies for advertising.
Manufacturer Assistance Programs
Many pharmaceutical companies, state programs, and nonprofits offer drug assistance programs (PAPs) to reduce the consumer cost of medications. One consumer resource is MAT or Manufacturer Assistance Tool, a search engine to help patients and providers find available resources for a given patient and medication.
High-cost drugs are a significant barrier to people living healthier and happier lives. And high costs don’t just employees; employers bear a share of these costs in the form of higher insurance costs and worse employee health outcomes which impact future claims.
Offer these resources to your team and use them yourself. The savings can make a material impact on your health today and into the future.
Posted by John Hansbrough in Behavioral Health, Health Equity, Healthcare, Prescription Drugs