Once upon a time, as long as you had health insurance, filling a prescription for medication was pretty straightforward and, really, no big deal. You simply presented your insurance card at a pharmacy of your choice and no matter what prescription drugs you were getting, you paid one set price. That’s it—period.
Remember the good ole’ days of $10 prescription copays?
Well, unfortunately, as the cost of healthcare has continued to skyrocket, insurance carriers have had to find ways to cover their increasing costs. Guess what that means? Your once reliable insurance is paying for less and less while you are having to pay more, especially at the pharmacy counter.
To make things even more complicated, insurance companies in the United States are allowed to wheel and deal directly with pharmaceutical companies to secure the best drug pricing for, you guessed it, their own bottom line. They also hire pharmacy benefits managers (PBMs) to negotiate the best price on prescription drugs for, again, themselves.
Pharmacy Benefits Managers (PBMs)
PBMs work behind the scenes with pharmacies, too, to control their drug spending, which is why the exact same prescription medication may cost you $16.50 at CVS and $49.50 at Walgreens.
Bottom line? Your prescription copay has little to do with the actual cost of the medication.
And there’s one more thing: clawbacks. Chances are you’ve never heard of them, but make no mistake, they’re costing you—big time. PBMs often receive rebates or clawbacks on the sale of certain drugs that are calculated as a percentage of the drug manufacturer’s list prices. That means they have a major incentive to favor higher-priced drugs over ones that are more cost-effective. A clawback occurs when you’re charged more than the full cost of a drug, and the PBM that handles drug claims for your insurance companies or help determine prices for your pharmacy “claw back” the extra money.
Yes, you read that correctly. The PBMs make money while you, even with insurance, pay more than the retail cost of the drug. And get this: It’s 100% completely legal. No wonder it’s nearly impossible to figure out what a prescription actually costs!
myRxMedSaver Prescription Discount App
Luckily, you don’t have to anymore. Better yet? You can stop overpaying for prescriptions and start saving money today with the myRxMedSaver app. All you have to do is download the app to your phone or print a card for your wallet. MyRxMedSaver is totally free and is accepted at more than 65,000 pharmacies. And there’s no waiting period. Go ahead and use it today and start saving upwards of 85% on all of your prescriptions.
Getting the best price on your prescriptions has never been easier. Just present your myRxMedSaver to your pharmacist at checkout and quickly compare the cash price with your insurance copay. When the cash price is less than your copay, pay cash and pocket the difference! MyRxMedSaver even works on pet medications, too, and the discount never expires.
MyRxMedSaver has helped thousands of people—with and without insurance—save millions of dollars in prescription costs. What are you waiting for? Download myRxMedSaver now and never overpay for prescription medication again. Available at the Apple App Store and on Google Play.