According to a recent article, new york times, People in the United States pay more for prescription drugs than in any other country in the world.
The main reason is that the U.S. government does not work with drug companies to regulate drug prices. This gives these companies the freedom to eliminate competition and manipulate patents to control the market.
In Europe, the second-largest prescription drug market after the United States, governments are negotiating with drug companies to lower prices.
The United States and New Zealand are the only two countries in the world that allow pharmaceutical companies to advertise directly to consumers. In 2022, U.S. drug companies will spend nearly $8.1 billion on consumer advertising, contributing to rising drug prices.
Here’s some inside information. New drugs are being prescribed all the time and traditional medications are being modified, requiring pharmacists to take continuing education classes to keep up with the changes. Doctors then rely on pharmacists to learn about the drugs they prescribe.
Approximately 20% of Americans, or more than 60 million people, are enrolled in Medicare, and obtaining prescriptions through Medicare presents unique challenges.
Medicare Part D is for prescription drugs and includes four different tiers.
Tier 1 — Lowest out-of-pocket costs: Most generic prescription drugs.
Tier 2 — Moderate copay: Preferred brand name prescription drugs.
Tier 3 — High out-of-pocket costs: Non-recommended branded prescription drugs
Specialty – Highest out-of-pocket costs: Very expensive prescription drugs
Most providers try to work with patients and Medicare to find the best price.
Medicare Advantage plans, also known as Part C, are Medicare health plans offered by Medicare-certified private insurance companies in accordance with Medicare policies and procedures. Most Medicare Advantage plans include Part D drug coverage. These companies can offer good or at least decent prices on prescriptions.
Coverage options change from year to year, so it’s wise to check with your insurance company at the end of each year.
An important side note is that if a person signs up for Medicare but declines Part D and then signs up for Medicare in the future, that person will be penalized for not signing up for Medicare in the first place.
SHIBA is a free organization for Washington State residents that helps people of all ages deal with Medicare issues.
I have good news. More reliable alternatives to purchasing medicines at lower costs are now available, and more are likely to emerge.
• PharmacyChecker.com is a site for ordering affordable prescriptions from other countries, especially Canada.
• CostPlusDrugs.com was started by Shark Tank celebrity Mark Cuban to offer low prices on especially expensive medications.
• HealthWarehouse.com is another reputable online pharmacy that also offers over-the-counter medications and supplies.
• GoodRx.com
• Pharmacy.amazon.com
• BlinkHealth.com
Here are three suggestions to help you find the lowest possible price.
1) Ask your healthcare provider if generic brands work for you, then ask your insurance company what they cover.
2) Ask your pharmacist about regional coupons, manufacturer coupons, and drug company patient assistance programs.
3) Discuss the option of purchasing a 90-day supply with your healthcare provider and insurance company, as it is more affordable to buy in bulk. If possible, also discuss with your doctor the option of cutting the pill (dosage) in half to save money.
Another idea that most patients aren’t aware of is to ask your healthcare provider if there are any supplements that may work as an alternative to prescription drugs. For example, vitamin B-1 is currently used for sleep apnea, and frankincense is used for certain cancers.
Email us your comments and suggestions regarding prescription drug coverage. I personally reply to all emails. Visit WellnessWithAge.com.
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Crystal Linn is a multi-published author and award-winning poet. When she’s not writing or teaching workshops, she enjoys reading good mysteries, hiking, and sailing with her friends and family. Visit crystalline.com.
