A friend told me the other day that she was apprehensive about the cost of medications as she contemplates her switch from employer-sponsored insurance to Medicare. One drug in particular — frovatriptan, for migraines — was causing her some anxiety,
I mentioned to her that she might want to look at the prices on Mark Cuban Cost Plus Drugs. When I started on Medicare, I learned that I could pay less — sometimes a lot less — for medications by putting away my Medicare card and paying cash.
She expressed surprise. But guess what? She got amazing savings.
She wrote in an email: “Thanks again for steering me to CostPlus Drugs.
“I was astounded to see that while my insurance charges about $150 for 12 tablets of frovatriptan, truly a miracle drug to alleviate migraines, the cost on the website is $32.75 — for 30 tablets.
“I was really worried about how I’d afford this medicine once I switch to Medicare, so this was a great demonstration.
“Thanks again.”
That means her $12.50 pill suddenly costs her $1.09. (There is also a postage charge from Cost Plus.) Or to look at it another way, 30 tablets at the higher price would cost $375 — as opposed to the $32.75 for all 30 at Cost Plus.
We are all programmed somehow to believe that our insurance policies get us the best prices on prescriptions and procedures. But that’s no longer true.
Always ask: “How much will that cost me with my insurance? How much will I pay on cash?”
And in person, or on the phone, I often follow up with “Can I have that in writing?” Especially with a procedure price, it’s often true that a phone quote can evaporate when you’re standing at the billing office with a checkbook or a credit card.
Think about paying cash, even if you’re insured.
