Can Mark Cuban’s New Pharmacy Save You Money on Prescriptions?

Mark Cuban, the billionaire proprietor of the Dallas Mavericks and “Shark Tank” star, has a brand new on-line pharmacy that would 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 price plus a 15% markup and a $3 pharmacist payment.

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 prices the $4.80 price to make the drug, plus $0.90 for the 15% markup, plus the $3 pharmacist payment. The overall price for a 30-day provide: $8.70.

Another frequent drugs the web pharmacy gives 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 firms that handle drug advantages on behalf of insurers. Meaning sufferers should pay out of pocket. Nevertheless, 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.

You probably have a well being financial savings account (HSA) or versatile spending account (FSA), you need to use 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?

Delivery prices $5 and is offered by digital healthcare firm Truepill.

How Do I Order Prescriptions?

Use the pharmacy’s web site to see if the medicine you’re taking is obtainable. Then you may contact your physician and ask them to ship your prescriptions on to the Mark Cuban Price Plus Drug Firm.

What if My Remedy Isn’t Supplied?

The pharmacy presently gives 100 generic medication, although it plans so as to add extra to its roster. If you happen to’re taking a brand-name medicine, you would ask your physician if you happen to might change to the generic model. Different choices for decreasing the price of your prescribed drugs:

• Use Amazon Prime. You probably 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 if you happen to’re paying with out insurance coverage. Most insurance policy are accepted, although. You’ll additionally obtain free transport, which might take as much as 5 days, although you may pay $5.99 to expedite transport.

• Use a prescription low cost card. With a prescription low cost card service, you may seek for a pharmacy close to you that gives the bottom pricing in your medicine. After you’ve chosen your pharmacy, print out the coupon or present the pharmacist the code utilizing the cellular app. You probably have insurance coverage, you may 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 possibly can’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 may be sluggish, this selection is greatest for medication you’re taking recurrently as a way to organize them a minimum of two weeks prematurely. You possibly can typically save much more cash by ordering a 90-day provide as a substitute of a 30-day provide.

Robin Hartill is a licensed monetary planner and a senior author at The BaghdadTime. Ship your difficult cash inquiries to [email protected] or chat along with her in The BaghdadTime Group.