Mark Cuban, the billionaire proprietor of the Dallas Mavericks and “Shark Tank” star, has a brand new on-line pharmacy that might make your prescription drugs extra inexpensive.
On Jan. 25, Cuban introduced the launch of the Mark Cuban Price Plus Drug Firm. Presently, 100 generic prescription drugs can be found on the pharmacy web site, costplusdrugs.com. Drugs are priced at value plus a 15% markup and a $3 pharmacist price.
To know how pricing works, take the instance of a 30-day prescription of Colchicine, a generic model of anti-inflammatory medicine Colcrys that’s generally used to deal with gout. The drug’s retail worth is $176.10, however solely prices $4.80 to fabricate.
Cuban’s Price Plus Drug Firm fees the $4.80 value to make the drug, plus $0.90 for the 15% markup, plus the $3 pharmacist price. The entire value for a 30-day provide: $8.70.
Another widespread drugs the web pharmacy provides embody:
- Albendazole, which is used to deal with parasitic infections, prices $33. Its retail worth is $437.68.
- Fluoxetine, the generic model of antidepressant Prozac, prices $3.90. Its retail worth is $22.94.
- Imatinib, a drug that treats leukemia and different cancers, prices $17.10. Its retail worth is $2,502.50.
- Lisinopril, a medicine used to decrease hypertension, prices $3.60. Its retail worth is $24.
- Mesalamine, which is used to deal with ulcerative colitis, prices $36.90. Its retail worth is $959.07.
Does the Pharmacy Settle for Insurance coverage?
No. Price Plus Drug Firm doesn’t settle for insurance coverage as a result of it doesn’t work with third-party pharmacy profit administration corporations that handle drug advantages on behalf of insurers. Which means sufferers must pay out of pocket. Nonetheless, the corporate’s web site states that its costs are sometimes decrease than a affected person’s co-pay for a similar drug at a retail pharmacy.
When you have a well being financial savings account (HSA) or versatile spending account (FSA), you should utilize your HSA/FSA card to pay for drugs.
Are Coupons Accepted?
No, the pharmacy doesn’t presently settle for coupons.
How A lot Is Supply?
Transport prices $5 and is supplied by digital healthcare firm Truepill.
How Do I Order Prescriptions?
Use the pharmacy’s website to see if the medicine you’re taking is accessible. Then you’ll be able to contact your physician and ask them to send your prescriptions directly to the Mark Cuban Price Plus Drug Firm.
What if My Medicine Isn’t Supplied?
The pharmacy presently provides 100 generic medication, although it plans so as to add extra to its roster. Should you’re taking a brand-name medicine, you possibly can ask your physician should you might change to the generic model. Different choices for decreasing the price of your pharmaceuticals:
- Use Amazon Prime. When you have an Amazon Prime membership, it can save you as much as 80% on generic medication and 40% on name-brand drugs by Amazon Pharmacy should you’re paying with out insurance coverage. Most insurance coverage are accepted, although. You’ll additionally obtain free transport, which may take as much as 5 days, although you’ll be able to pay $5.99 to expedite transport.
- Use a prescription low cost card. With a prescription low cost card service, you’ll be able to seek for a pharmacy close to you that provides the bottom pricing in your medicine. After you’ve chosen your pharmacy, print out the coupon or present the pharmacist the code utilizing the cell app. When you have insurance coverage, you’ll be able to ask the pharmacist whether or not it’s cheaper to make use of the low cost code or undergo your insurance coverage and pay the co-pay. (You may’t use each insurance coverage and a reduction card for a similar prescription.)
- Attempt different mail-order pharmacies. Mail-order pharmacies can typically prevent cash on prescription drugs. As a result of supply will be gradual, this feature is greatest for medication you are taking frequently in an effort to get them organized not less than two weeks upfront. You may typically save much more cash by ordering a 90-day provide as an alternative of a 30-day provide.
Robin Hartill is a licensed monetary planner and a senior author at The PNW. Ship your difficult cash inquiries to [email protected] or chat along with her in The PNW Community.