Complexity of Purchasing Prescription Medications

[Graybeard]

I ran across this today and was shocked at the cost of drugs using Cost Plus Drugs!

The cost of prescription medicines has many Americans in a bind. Inflation is at a record level, but drug prices have risen even faster over the past decade, increasing 35% since 2014, compared to 19% for all goods and services, according to Healthcare Finance.
...
How does Mark Cuban Cost Plus Drugs work, why are its prices so cheap and how can you take advantage of those low prices? We'll give you all the details on a service that could potentially save you hundreds or more per year on needed medications

https://www.cnet.com/personal-finance/get-lower-cost-prescriptions-at-mark-cuban-cost-plus-drugs-how-it-works/

 

[travelover]

I ran across this today and was shocked at the cost of drugs using Cost Plus Drugs!...........

The small time crooks wear hoodies, the big time crooks wear suits. It looks like we may finally have legislation to allow Medicare to negotiate drug prices.

 

[Chuckanut]

The small time crooks wear hoodies, the big time crooks wear suits. It looks like we may finally have legislation to allow Medicare to negotiate drug prices.

It's only for a handful of very expensive drugs for which there are no generics. That is my understanding.

 

[EastWest Gal]

It's only for a handful of very expensive drugs for which there are no generics. That is my understanding.

It’s at least a start. Don’t let perfect get in the way of good.

 

[travelover]

It's only for a handful of very expensive drugs for which there are no generics. That is my understanding.

From my link:

CBO estimates $101.8 billion in Medicare savings from the drug negotiation provision.

 

[harllee]

It's only for a handful of very expensive drugs for which there are no generics. That is my understanding.

My DH takes one of these drugs and he has to pay over $8000 per year (using his Medicare Part D). Overall it will be a huge savings to Medicare recipients.

 

[target2019]

Certainly not a brag, but after group health insurance my co-pay has gone from $5 to $3230. Monthly. I'm in the deciding stage on that.

It reminds me of the "$7,000 for an aircraft coffee maker."
Source: https://en.wikipedia.org/wiki/Packa...e mid-1980s, the,for an aircraft coffee maker.

Put lobyists in a city with elected officials? Follow the money, friends.

 

[Chuckanut]

It’s at least a start. Don’t let perfect get in the way of good.

I'm not arguing against it. I'm saying don't expect your next Rx for Pretenda to be significantly cheaper.

 

[orchid55]

Are the Part D companies going to eat the higher costs or will premiums be substantially raised?

 

[harllee]

Are the Part D companies going to eat the higher costs or will premiums be substantially raised?

For the drugs that Medicare will negotiate the lower rates I think that the drug manufacturers will have to absorb the higher costs. Every other insurer negotiates drug costs, Medicare will finally be able to do it. Of course it is only going to be the 10 most expensive drugs at first. I doubt this will affect Part D premiums.

 

[Telly]

From my link:

travelover, thanks for posting again... I missed the hypertext link up in your post #77. This is the first time I have seen any real details on what "letting Medicare negotiate drug costs" actually meant as part of the bill.

 

[travelover]

travelover, thanks for posting again... I missed the hypertext link up in your post #77. This is the first time I have seen any real details on what "letting Medicare negotiate drug costs" actually meant as part of the bill.

Yeah, it is not as good as it could be, but the crooks in suits own a lot of Congress.

 

[target2019]

It's only for a handful of very expensive drugs for which there are no generics. That is my understanding.

I think it would be better to assume one won't be in the group who benefit from the legislation in a significant way. If you do benefit, that is great.

When I look at the KFF graphic, it seems a slippery slope to count on this as part of your plan. Sure, there will be perks, but it doesn't "fix" the problem. Also note this legislation is not signed.

Source: https://www.kff.org/medicare/issue-...ation-proposal-affect-medicare-beneficiaries/

 

[azxracer]

I ran across this today and was shocked at the cost of drugs using Cost Plus Drugs!



https://www.cnet.com/personal-finan...s-at-mark-cuban-cost-plus-drugs-how-it-works/

Not sure what you mean with this. The few things I've looked at and compared to thru my Part D plan, offer significant savings. I take generic Bystolic and my Part D charges $168 for 90 day supply (it's not on the formulary and doesn't count against the yearly deductible) . Cost Plus Drugs charges $11 (plus $4 shipping) for a 90 day supply

 

[ERD50]

I think it would be better to assume one won't be in the group who benefit from the legislation in a significant way. If you do benefit, that is great.

When I look at the KFF graphic, it seems a slippery slope to count on this as part of your plan. Sure, there will be perks, but it doesn't "fix" the problem. Also note this legislation is not signed.

Source: https://www.kff.org/medicare/issue-...ation-proposal-affect-medicare-beneficiaries/

Devil's in the details, but that seems like a very odd way to go about it. I fear any sort of cost-control/price-fixing will just have the drug companies doing an end around. Squeeze a balloon, and it pops out somewhere else. I sure hope some good comes from it, but color me skeptical.

Yeah, it is not as good as it could be, but the crooks in suits own a lot of Congress.

It takes two to tango. It's rather disingenuous to talk about the crooks 'owning Congress', without also mentioning that Congress has put themselves up for sale.

If I offer a bribe to a good cop, I end up in jail. As it should be. This "owning" can't happen without a willing partner.

-ERD50

 

[teej1985]

I think it would be better to assume one won't be in the group who benefit from the legislation in a significant way. If you do benefit, that is great.

When I look at the KFF graphic, it seems a slippery slope to count on this as part of your plan. Sure, there will be perks, but it doesn't "fix" the problem. Also note this legislation is not signed.

Source: https://www.kff.org/medicare/issue-...ation-proposal-affect-medicare-beneficiaries/

Does the "eliminate vaccines cost sharing for Part D" solve the Shringix issue people have had?

 

[harllee]

Does the "eliminate vaccines cost sharing for Part D" solve the Shringix issue people have had?

It should, I was reading some background on the bill and the Shingles vaccine was mentioned as one of the main reasons for the change on Part D payment for vaccines. Maybe more people will get the Shingles vaccine now. I know some people who told me they could not get Shingrix because of the cost.

 

[target2019]

Does the "eliminate vaccines cost sharing for Part D" solve the Shringix issue people have had?

TBH, I'm not holding my breath for any of this.

I may get a Shingrix shot. I'm not gonna let the cost get in the way once I decide.

My mother had shingles bad, maybe two or three times.

 

[harllee]

TBH, I'm not holding my breath for any of this.

I may get a Shingrix shot. I'm not gonna let the cost get in the way once I decide.

My mother had shingles bad, maybe two or three times.

For sure, get the Shingles shot as soon as you can. I had an awful case of Shingles at age 50, you definitely do not want it.

 

[Graybeard]

Not sure what you mean with this. The few things I've looked at and compared to thru my Part D plan, offer significant savings. I take generic Bystolic and my Part D charges $168 for 90 day supply (it's not on the formulary and doesn't count against the yearly deductible) . Cost Plus Drugs charges $11 (plus $4 shipping) for a 90 day supply

THAT is exactly what I meant. In the examples given, Cost plus are significantly cheaper.

 

[Z3Dreamer]

One more. ENT doctor prescribes a compounding mixture for my allergies. The pharmacy tells me that I can pay the cash price of $70 or go back to the ENT to get the prescription redone so that my insurance will accept. I say not to bother as he told me it would only be a few bucks. Of course, paying it this way will not satisfy any deductibles.

After two months of filling the prescription, the doctor wants me to continue so I ask the pharmacy to get the prescription redone. This charge submitted to insurance is $234. The insurance company pays them $177, leaving me to pay $57.

Yes, I save $13 but what a racket!

 

[KarenF]

One more. ENT doctor prescribes a compounding mixture for my allergies. The pharmacy tells me that I can pay the cash price of $70 or go back to the ENT to get the prescription redone so that my insurance will accept. I say not to bother as he told me it would only be a few bucks. Of course, paying it this way will not satisfy any deductibles.

After two months of filling the prescription, the doctor wants me to continue so I ask the pharmacy to get the prescription redone. This charge submitted to insurance is $234. The insurance company pays them $177, leaving me to pay $57.

Yes, I save $13 but what a racket!

That is infuriating, and yes, SUCH a racket!

 

[ShokWaveRider]

That is infuriating, and yes, SUCH a racket!

You are not kidding, I just spent an hour on the phone with Aetna trying to find out if Tdap (Boostrix) a Tetanus booster is covered. Apart from the fact the CS Rep had no idea what I was talking about and could not find anything for me, defaulted to telling me that it "probably" was not covered.

I called CVS and in 2 minutes was told it was $63 with insurance and $45 with GoodRX.

What is the point of Part D for folks with minimal Meds, all Generic? Apart to make easy money and doing Sweet Fanny Adams to do so.

 

[harllee]

You are not kidding, I just spent an hour on the phone with Aetna trying to find out if Tdap (Boostrix) a Tetanus booster is covered. Apart from the fact the CS Rep had no idea what I was talking about and could not find anything for me, defaulted to telling me that it "probably" was not covered.

I called CVS and in 2 minutes was told it was $63 with insurance and $45 with GoodRX.

What is the point of Part D? Apart to make easy money and do Sweet Fanny Adams to do so.

If you are ever prescribed a very expensive medication (like a cancer medication or Humira) having Part D will save you thousands, especially once the new rules limiting patient cost to $2000 per year. Even now having Part D saves my husband over $10,000 per year on his Humira.

 

[ShokWaveRider]

If you are ever prescribed a very expensive medication (like a cancer medication or Humira) having Part D will save you thousands, especially once the new rules limiting patient cost to $2000 per year. Even now having Part D saves my husband over $10,000 per year on his Humira.

I should have been more specific, I updated my post; in your case I can see the benefit. However, we take no expensive medications so for us it is almost cheaper to buy them without insurance.