drugs

9 Financial Mistakes You're Making at the Doctor's Office

Kat Tretina — Mon, 04 Jun 2018 08:30:18 +0000

If you have an ongoing medical condition, you know how expensive health care can be. Medical costs have skyrocketed the past several years, leaving people facing the very real possibility that doctor's visits, prescriptions, and procedures could deplete their bank account or even land them in debt.

There are ways to make medical care more affordable. However, a lot of people miss out on some important discounts. Below, find out what costly mistakes you might be making at the doctor's office.

1. You don't comparison shop for prescriptions

When it comes to medication, the price you pay can vary from location to location. If you go to the same pharmacy every time and never shop around, you could be overpaying for your prescriptions.

GoodRX is a site that allows you to compare prices at several different local pharmacies at once, ensuring you get the best price. According to the site, if you had a prescription for the antidepressant Lexapro and filled it at Walmart, you'd pay $46.29. But, if you filled it at Costco, you'd pay just $10.50.

2. You don't ask for generic medication

If your doctor prescribes you a new medication, going with a name brand can cost you hundreds or even thousands of dollars. For example, if you were to fill a prescription for Crestor, a medication for high cholesterol, it would cost you about $825 for a 90-day supply, according to Drugs.com. By contrast, if you got the generic version — rosuvastatin — you'd pay just $96 for the same supply.

When you're at the doctor's office, be sure to ask your doctor if there is a cheaper generic version available.

3. You don't use a discount prescription card

If you don't have insurance and need to fill a prescription, you can expect a hefty bill. However, you might not have to pay the sticker price on your own.

There are free discount programs you can sign up for to get your prescriptions at a much cheaper price. For example, if you sign up for a program like FamilyWize, you can get up to 90 percent off your prescriptions' prices. (See also: 7 Ways You Can Save Money On Prescription Medications)

4. You don't show up to appointments

Many doctor's offices are cracking down on people who miss appointments by charging them no-show fees. These fees can run anywhere from $20 to the price of a full visit, which can easily cost you hundreds.

If you can't make an appointment, contact the office as soon as possible to cancel or reschedule. If you do so early enough, you can prevent no-show fees from being added to your account.

5. You don't always pay your bills on time

If you owe your doctor money but don't pay your bill on time, you can quickly rack up late fees and interest charges. Over time, your bill can balloon thanks to those penalties. What's worse, if your doctor decides to send your delinquent account to a collections agency, your credit will also take a hit.

It's important that you make all of your payments on time. If you're in danger of falling behind, contact your doctor's office right away to see if you can get on a more affordable payment plan. It's better to be upfront about your situation than to ignore it.

6. You use the emergency room for illnesses and minor injuries

If you go to the emergency room for minor injuries or illnesses like strep throat or the flu, you could end up spending thousands. According to a 2016 report by the Health Care Cost Institute, an emergency room visit cost an average $1,917. That's an awful lot to pay for the flu.

In many cases, going to an urgent care facility rather than the emergency room can be a more cost-effective option. An urgent care visit typically costs between $100 and $200 out of pocket. These facilities can handle most minor illnesses or injuries, including broken bones. (See also: Urgent Care or ER? How to Decide Where to Go)

7. You don't negotiate costs

Although you can't negotiate costs like copays or coinsurance — your insurance provider determines those — you can negotiate services and treatments that aren't covered by insurance.

If your insurance provider refuses to cover a necessary service, explain to the office administrator that you'll be paying out of pocket and ask if they offer any discounts for cash-paying patients. In some cases, you may pay significantly less than if you used insurance. (See also: 7 Ways to Negotiate Medical Bills)

8. You see out-of-network providers

If you've always gone to the same doctor, finding a new one might be a real pain, and you might put off finding someone else. However, if your current doctor is out of your insurance provider's network, this can be a costly mistake.

Depending on the type of insurance plan you have, your insurance company might only cover a portion of a visit with an out-of-network doctor. If you have an HMO, they might not cover any of it, and you'll be solely responsible for the charges. Taking the time to find a doctor within your network can save you money (and headaches) over time. (See also: How to Choose the Best Primary Care Physician)

9. You don't keep copies of your test results

If you need to have an MRI, CT scan, or blood work done, ask the doctor or lab technician for a copy of your results. Keeping a copy for yourself can help you in the future if another doctor wants to run the same tests. If you have a recent version, you can skip getting another round of expensive tests, saving you a lot of money.

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This article is from Kat Tretina of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

How to Make Sense of the Different Parts of Medicare

Damian Davila — Tue, 20 Feb 2018 09:30:09 +0000

If you're nearing retirement age, you probably know the gist of what Medicare does. The federal social program provides health insurance coverage to those age 65 or older, as well as younger people with certain disabilities. But do you know the specifics of each part of Medicare?

According to the 2017 EBRI Retirement Confidence Survey, only 8 percent of retirees are very confident about the future of Medicare benefits. This may be due to a lack of information about the various parts of the program and what each one of them offers. (See also: 5 Common Medicare Myths, Debunked)

Let's break down each of the Medicare parts.

Medicare Part A (hospital insurance)

Part A covers inpatient hospital stays, care in a skilled nursing facility (following a hospital stay), hospice care, and some home health care. It covers hospital services, including semiprivate rooms, meals, general nursing, drugs as part of your inpatient treatment, and other hospital services and supplies.

Once you reach age 65, you usually don't pay a monthly premium for Part A coverage as long as you or your spouse paid Medicare taxes for at least 10 years. This is known as "premium-free Part A." Those under age 65 may also qualify for premium-free Part A if they have a disability or end-stage renal disease (ESRD) or amyotrophic lateral sclerosis (ALS).

For workers who paid fewer than 30 quarters of Medicare taxes, the standard Part A premium for 2018 is $422 per month. For those who paid 30 to 39 quarters of Medicare taxes, the standard Part A premium is $232 per month.

It's important to understand that Part A coverage is the bare minimum in terms of health coverage and that you should plan to supplement this coverage with the additional parts of Medicare. Generally, you're only responsible for one deductible (about $1,340) for each benefit period and no coinsurance for hospital stays under 60 days per benefit period.

Medicare Part B (medical insurance)

This is medical insurance that covers doctors' appointments and many other medical services and supplies not covered by Part A. In most cases, you'll automatically get Part A and Part B starting the first day of the month you turn 65. You'll get your red, white, and blue Medicare card in the mail three months before your 65th birthday (or your 25th month of getting disability benefits).

Part B helps pay for necessary services and supplies to treat your medical condition, as well as preventive services to detect or prevent illness at an early stage. Most preventive services have no cost as long as you get them from a health care provider accepting the amount that Medicare approves for payment. Part B includes payments for clinical research, ambulance services, durable medical equipment, and a second opinion before surgery.

For 2018, the standard premium for Part B is $134 (and may be higher depending on your income). If you collect Social Security benefits, your premium may be slightly reduced.

Since Medicare Part B requires a monthly premium even if you don't use it, you should consider delaying Part B if you're still receiving coverage through an employer group health insurance plan. Talk with your health plan administrator to learn more about how to delay Part B (and even Part A) without paying a penalty when enrolling later.

Medicare coverage depends on federal and state laws. Use this Medicare Coverage tool to find if Medicare Part A and Part B will cover your test, item, or service. Note that there are certain things that Part A and Part B (also known together as "Original Medicare") will not cover. For example, Original Medicare doesn't cover hearing aids and exams, eye exams, and most dental care. Part C and Part D can help you cover those gaps.

Medicare Part C (Medicare Advantage plans)

Americans enrolled in Medicare Part A and Part B are also eligible to sign up for health coverage plans, known as Medicare Advantage plans, with private health carriers approved by Medicare. The primary benefit of Part C is that you get a wider choice of medical providers and a more comprehensive prescription drug coverage. When you sign up for a Medicare Advantage plan, you must continue paying your Part B premium.

There are different types of Medicare Advantage plans:

Health Maintenance Organization (HMO) plans: You generally must get your care and services from providers within the plan's network. Some HMO plans may allow you to get a referral from your primary care doctor for an out-of-network provider.
Preferred Provider Organization (PPO) plans: You pay less as long as you use the doctors, hospitals, and health care providers within the plan's network and pay more when using those outside the network. Unlike an HMO, you're not required to choose a primary care doctor and you don't need a referral to see a specialist.
Private Fee-for-Service (PFFS) plans: The main difference between a PFFS and other plans is that the insurance company, not Medicare, determines how much the provider receives and the beneficiary pays for a covered health service. PFFS plans offer flexibility but often at a higher cost.
Special Needs Plans (SNPs) plans: An SNP is only available to individuals with specific diseases or characteristics, including cancer, dementia, diabetes mellitus, or end-stage liver diseases. Benefits are tailored to the specific needs of that condition.
HMO Point of Service (HMOPOS) plans: An HMOPOS plan allows you to get some services out-of-network for a higher cost.
Medical Savings Account (MSA) plans: Plans that combine a high deductible health plan with a bank account into which Medicare makes deposits to pay for health care services throughout the year.

To enroll in a Medicare Advantage plan:

Use the Medicare Plan Finder to search for plans in your ZIP code (for personalized search, use your Medicare number).
Enroll in your selected plan by mailing an enrollment form, calling the plan administrator, or calling 1-800-MEDICARE (1-800-633-4227).

When joining a Part C plan, you'll need your Medicare number and start date of Part A and/or Part B coverage.

Medicare Part D (prescription drug coverage)

To help Americans with the rising cost of prescription drugs, the Social Security Administration established Medicare Part D in 2003. Like Medicare Part C, Part D is provided by private health insurance companies approved by Medicare. To enroll in Part D, you must have signed up for Part A and/or Part B. Deductibles and covered medications vary per plan. You are first eligible to sign up for Part D coverage during your Initial Enrollment Period (IEP), which typically takes place during the same seven-month window as your IEP for Original Medicare (Parts A and B).

Medicare Part D is also available to those with Part C, though some Medicare Advantage plans may already provide prescription drug coverage. Medicare Advantage plans with drug coverage are sometimes referred to as "MA-PDs." HMO and PPO plans often include some prescription drug coverage, while PFFS and MSA plans often require additional drug coverage through Medicare Part D.

Make sure to check your eligibility for your drug coverage from other organizations, such as Department of Veterans Affairs, workplace union, or TRICARE before signing up for a Part C or Part D plan. You use the same process to enroll in a Part D plan as you would for Part C.

The bottom line: Keep informed

You have unique medical needs. That is why Medicare offers a wide range of options for medical coverage. As you get closer to retirement age, keep on top of the latest developments of Medicare and its different parts so you can minimize your medical expenses. To learn more, use this directory to find Medicare contacts using your state and organization or topic of interest.

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This article is from Damian Davila of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

EpiPens and Other Ways Companies Have Profited From Your Pain

Paul Michael — Thu, 22 Sep 2016 10:00:05 +0000

The EpiPen literally saves lives. So naturally, the makers of the lifesaving product decided to cash in on that, raising the cost from $100 for a package of two, to over $600! (And that's with a coupon, by the way).

The reason behind the dramatic increase is awful. According to Tech Times, five top Mylan NV executives had to hit some pretty incredible sales figures to achieve their combined $82 million in bonuses. Knowing the EpiPen is essential to many people, they simply jacked the price up and hit their goals. But, as you'll soon discover, this isn't the first time companies like Mylan NV have stuck it to people in need of medications.

Daraprim, One Pill — $13.50 to $750

If the drug doesn't sound familiar, the awful person behind its price hike will. His name is Martin Shkreli, often described in news stories and social media outlets as a man with a face you'd love to slap. His company, Turing Pharmaceuticals, acquired Daraprim in 2015 for $55 million. The drug is used to fight AIDS, malaria, and is also an antiparasitic. On September 17th, 2015, it was reported that the price of the drug had spiked from $13.50 per pill to $750 per pill, an increase of 5,456%!

Shkreli defended the massive increase, saying "If there was a company that was selling an Aston Martin at the price of a bicycle, and we buy that company and we ask to charge Toyota prices, I don't think that that should be a crime." It was poetic justice to see Shkreli in court this year.

Cycloserine, 30 Capsules — $500 to $10,800

Used to treat drug-resistant tuberculosis, Cycloserine was already costly at $500 for 30 capsules. So when Rodelis acquired the drug and raised the price in September 2015, overnight, to $10,800 for the same number of pills, there was outrage. In fact, so much was said about it that biotechnology stocks suffered losses, with investors worried about the backlash. Rodelis caved to pressure and gave the drug back to its previous owners, a nonprofit organization affiliated with Purdue University. However, the drug did not go back to its regular price. The cost was doubled from $500 to $1,050 for 30 capsules.

Isuprel, One Vial — $180 to $1,472

A drug used to treat abnormal heart rhythms is, as you can imagine, vital to many people in the U.S. and around the world. Valeant Pharmaceuticals International didn't see that as a good enough reason to keep the drug at its already steep price, and jacked the cost up by 718% in February last year. Valeant were called before Congress to explain their actions, and agreed to set up discounts of as much as 40% on the drug. As of May 11th, many heart hospitals were still waiting for those discounts to appear.

Nitropress, One Vial — $215 to $881

The same company responsible for the Isuprel price hike were also behind the massive cost increase of Nitropress last year, a drug used to keep blood pressure low during heart surgeries. However, it wasn't quite as steep as the Isuprel rise, costing hospitals, and therefore patients, 312% more. The then CEO of Valeant, J. Michael Pearson (who has a net worth of $175 million) issued a statement saying the price increases were mistakes, saying "The company was too aggressive — and I, as its leader, was too aggressive — in pursuing price increases on certain drugs." That probably comes as little comfort to the people who receive their hospital bills.

Vimovo, One Tablet — $1.88 to $23.86

There are over 100 types of arthritis, including osteoarthritis and rheumatoid arthritis. If you are diagnosed with it, you will be suffering from joint pain that can be crippling and debilitating. So, a drug that helps ease this pain should not be just as painful to buy.

Horizon Pharma acquired the rights to the drug Vimovo, which helps to fight arthritis, in 2013. It then hiked the price by 597%, taking one tablet from $1.88 to $23.86. Considering a vast number of people suffering from this condition are in retirement and on a fixed income, this is a disgrace. But the company hiked the price again recently, with a pack of 60 tablets now costing over $2,000 (with a coupon). Ironically, the drug is simply a mixture of two very cheap drugs, esomeprazole and naproxen. Many doctors are encouraged (that means kickbacks) by big pharma companies to write "prescriptions made easy" for these combination drugs. Always ask your doctor if there is a cheaper alternative that works just as well.

Dutoprol, One Pill — $0.52 to $5.26

This drug is used to treat high blood pressure, and up until 2013, the price was fairly reasonable — around $15 for a bottle of 30 pills. Clearly, the company the manufactures Dutoprol, Covis Pharma, was not happy with a reasonable price. So, they hiked the price by 1,013% to $5.26 per pill, or $157.80 for a bottle of 30 pills.

Sprix Nasal Spray, One Bottle — $32.07 to $183.97

If you have severe nasal pain, you will require a good pain reliever. Sprix is the only nonsteroidal Anti-Inflammatory Drug (NSAID) on the market, and is preferred by people who do not want to use opioids or controlled substances. That preference will now cost a lot more. In February of 2015, Egalet Corp raised the price of one bottle from $32.07 to $183.97, an increase of 574%. And as the spray is often sold in packs of five, you will be paying over $900 for that much-needed pain relief.

Tasmar, One Tablet — $15.70 to $105.98

Perhaps the most famous person you'll know of that may need Tasmar is Michael J. Fox. It's a drug used to treat the effects of Parkinson's disease. And once again, Valeant Pharmaceuticals is behind the massive price hike. In April last year, the company decided to raise the price of one tablet from $15.70 to $105.98, an increase of 675%. While a movie star may not have issues paying that bill, most people will get serious sticker shock when they have to pay over $6,300 for their bottle of 60 tablets.

Edecrin, One Vial — $470 to $4,600

Used in the treatment of edema and heart failure, Edecrin is a diuretic that helps your body get rid of excess salt and water. When Valeant acquired the rights to this drug, it started raising prices. Not once. Not twice. Not three times. The price has been increased an astonishing nine times since 2014, and is now $4,600 per vial.

Targretin Gel, One Tube — $1,687 to $30,320

Those are not typos. You did read that correctly. There is clearly something going wrong somewhere when a company can charge more than the price of a Dodge Charger for a tube of topical gel. And, of course, it's used to address the symptoms of a form of cancer, which is one of the most expensive diseases to treat. Once again, those wonderful people at Valeant are behind the rise, and at over $1,600 a tube to begin with, it was hardly in desperate need of a price hike. But, they did it, making the small tube of gel 18 times more expensive after they bought the rights to the drug in 2013.

Valeant has defended the rise, saying full retail prices "rarely represent the prices that patients and insurers are paying or what the pharmaceutical company receives." If you don't have good insurance, or any insurance, you likely won't have the money needed for this drug. Incidentally, at the same time, Valeant raised the price of Carac cream, another topical treatment dealing with skin cancer, from $159 to $2,705. The message this company is sending is clear…you get sick, we get rich.

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This article is from Paul Michael of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Your Daily Dose of Caffeine May Be Hurting You

Sarah Winfrey — Mon, 28 Oct 2013 10:24:03 +0000

Over half of Americans over 18 drink at least one cup of coffee a day, and over 90% of people in the world (PDF) consume caffeine in one form or another. Caffeine is a favored stimulant, and one that many of us don't even think about using. (See also: Cheap Ways to Get Your Caffeine Fix)

We see caffeine as a safe choice — a good way to wake up, give ourselves energy when we need it, and help us keep working when we feel too tired and want to quit. We feel like it is a necessary, because otherwise we would be tired, lethargic, and unable to finish everything we feel like we need to get done.

While it's rare to hear about caffeine killing anyone, we also shouldn't put anything into our bodies without thinking about it first. If you've never considered your consumption of caffeine, or if you are struggling with issues like anxiety and dehydration, it might be time to think through some of the downsides of caffeine and decide whether you want to continue putting it in your body.

Dehydration

Coffee is a diuretic, which means that it increases your urine output. This means that, when you consume it, you will lose more water than you would have otherwise. Unless you're conscientious about replenishing that water, you could easily end up dehydrated.

Even minor dehydration can ruin your day, causing headaches, tiredness, and problems concentrating. And major dehydration is a major deal, making it difficult for your body to function on many different levels.

Curbs Hunger

In most people, drinking caffeine interferes with your body's hunger mechanisms. You'll feel less hungry than you are. This is why many people who consume caffeine end up skipping meals, because they don't even recognize their own hunger.

Anything that shuts down the body's normal ways of functioning should raise some questions. Sure, we can be vigilant, knowing that we need to feed our bodies even though we take in caffeine, but do we want to be changing the way our bodies interpret natural signals?

Withdrawal

Anyone who has ever tried to stop drinking caffeine can tell you that it sucks. You feel tired, you get headaches, and sometimes you just don't feel like your brain is functioning at optimum levels. These symptoms can last anywhere from a couple of days to a couple of weeks.

While the withdrawal itself is something you can survive if you're determined to leave caffeinated beverages behind, it's not something that anyone wants to deal with. Add to that the fact that caffeine causes withdrawal symptoms because your body is dependent on it, and you have to ask yourself if the stimulant is something you want in your body at all. (See also: Kicky Drinks Without the Caffeine)

Stress

Even a small amount of caffeine can trigger a stress response, raising levels of adrenaline and mimicking a stressful situation. If you're continually consuming caffeine, your body will always be functioning as if you are stressed. (See also: 99 Free Ways to De-Stress)

Many people claim that coffee helps them jump start their days. However, what you're actually doing is giving yourself a small adrenaline rush every morning. Over time, this can contribute to adrenal fatigue. Even if that doesn't happen, though, most people would choose to be relaxed rather than stressed, even if they don't have quite as much energy.

Sleep Disturbance

Caffeine can disrupt your sleep for up to 24 hours after you consume it. While most people don't feel like they are under caffeine's influence after a couple of hours, it is still in the body and still affects how you function. (See also: Foods That Help You Sleep)

In most people, caffeine disrupts REM sleep, which is the part of sleep where your body processes emotions and interprets your day. This may not seem important, but over many nights, the cumulative effect can be a hampered emotional intelligence. You may struggle with your own feelings or in interpreting and responding to the feelings of people around you. Since these are skills that make life smoother, you may notice a change in how you feel about the world, how much you can handle, or how even your emotions are.

For young adults, recent research has shown that caffeine-induced sleep disturbances can slow brain development. Caffeine really may "stunt your growth."

Whether you choose to continue consuming caffeine or not, knowing these downsides can help you if you do begin to feel like your body isn't functioning as well as you might like. While quitting caffeine can be hard, some people find that it frees them and helps them become more balanced — and like they don't have to take on the world.

How much caffeine do you consume in a typical day?

This article is from Sarah Winfrey of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Making Money From Clinical Trials: Worth the Risk?

Darwins Money — Mon, 23 May 2011 10:24:20 +0000

As a broke college student, the allure of a huge payday for a weekend of "selling my body to science" was all too appealing. My roommate and I saw an ad for a study that would pay $750 for participating over a weekend. We had all the time in the world, needed money, and figured it was a no-brainer, so we signed up.

As it turns out, it was an early phase clinical trial for a migraine drug. In retrospect, I have my doubts whether the candidate ever made it to market, or at least at the dose we were subjected to. I was the lucky one — as I found out after the study, I received the placebo. My roommate got the good stuff. Shortly after an IV injection, he started to experience severe headaches, and then he threw up all over the place. This continued for some time and didn't subside until they dropped the dosing (which they administered every several hours). He was quite miserable. To make matters worse, we weren't allowed to talk to other people at the facility. They had some seemingly strange rules we never figured out. We joked that it was kind of like prison, but without the guards and shackles. We did have a PlayStation to pass the time, however, and it makes for some memorable conversation to this day. (See also: 9 Ways to Beat a Killer Headache)

Is Making Money From a Clinical Trial Worth the Risk?

All clinical trials are different, and they shouldn't be condemned outright. First off, I work in biotech, and I'm fully aware that without human trials, we'd never see any innovative drugs introduced. Chances are, if you're reading this, you've been the beneficiary of some sort of medicine or cosmetic that underwent both animal and human testing.

However, it's not something I'd recommend for my kids or other people looking to earn extra money. Like most things in life, the greater the risk, the greater you'd expect the pay to be. If you're testing out a cosmetic or you're a food taster, chances are you're not going to make nearly what you would in a medical clinical trial, where you're likely subjecting yourself to more risk. While it's rare, people do experience seriously adverse events and even death during clinical trials.

During the enrollment period, you'll be asked to review and sign various documents. Some good pointers in this month's Consumer Reports print edition include ensuring that you retain the right to sue for adverse effects and the right to withdraw at any time. I hadn't really thought of these things when I participated, and in retrospect, if my roommate tried to go home, I wonder if they would have forcibly detained him?

How to Find Clinical Trials

The most widely used (and legitimate) resource for clinical trial recruitment is through the registry at clinicaltrials.gov. However, often you'll also hear radio spots or see newspaper advertisements recruiting as well. As I recall, we found out about the trial through a campus newspaper ad. Word of mouth is another means to learn more about what the actual conditions and experiences were at the facility from people who already participated. If possible, it's ideal to find out what company is overseeing the trial and learn a bit about the facility in advance.

Personally, I don't see myself ever participating in a clinical trial again, but in the name of scientific progress, the medical community will always need volunteers and compensate them accordingly.

Have you ever participated in a clinical trial?

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This article is from Darwins Money of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Generic Drug Price Lists For Six Major Pharmacies - Updated

Paul Michael — Mon, 05 Jul 2010 14:00:04 +0000

I recently weaned myself completely off a medication. It was not because I wanted to, but rather my insurance changed and the new cost of the drug was way out of my budget. So I quit it. And my symptoms returned. It was at that point that I decided to research generic options for the drug.

As it turns out, there was no exact generic equivalent, but a quick chat with my doctor revealed several options that would have the exact same effect, and these were available as generics. When I went to pick up my prescription, I was shocked at the price — it was 12 times cheaper than the original medication! And yes, it is working just the same (in fact, it's better...this one has less side effects than the name-brand drug).

Now there are many articles pointing out that generic versions of drugs are not quite the same. I did ask my doctor about that, and he did indeed say that some generics are just not as good. The different formulation of the drug can make a difference to the way the body absorbs and processes the drug, and some have slightly different side effects. BUT, most are just as good as their name-brand, and very pricey, counterpart.

Now, knowing this I figured the generics would be the same price wherever you go, but that's not the case. Every pharmacy out there has their own generic price list program, and where you pick up your drugs could make a big difference in the final price. Some lists have different drugs on them than others, and some pharmacies will ask for additional fees to get the low price for the generics, so SHOP AROUND. Why pay more for a drug than you have to?

Here then, in no particular order, are the price lists of the six major pharmacies in the US. (I apologize if your pharmacy is not covered here, but do a quick search on Google and you should find a price list in seconds).

Each link will take you to a printable price list for that pharmacy. Some prices vary by state.

WALMART GENERIC DRUGS PRICE LIST
30-day supply - $4.
90-day supply - $10
Membership required? NO

TARGET GENERIC DRUGS PRICE LIST
30-day supply - $4.
90-day supply - $10
Membership required? NO

WALGREENS GENERIC DRUGS PRICE LIST
30-day supply - $9.99.
90-day supply - $12.99
Membership required? YES ($20/year individual, $35/year family)

RITE-AID GENERIC DRUGS PRICE LIST
30-day supply - $8.99.
90-day supply - $15.99
Membership required? NO

KROGER GENERIC DRUGS PRICE LIST
30-day supply - $4.
90-day supply - $10
Membership required? NO

CVS GENERIC DRUGS PRICE LIST
30-day supply - N/A
90-day supply - $9.99
Membership required? YES ($10/year per person)

Remember, if your pharmacy isn't listed here, that doesn't mean they don't offer low-priced generics. Do a web search or ask your local pharmacist. And don't be afraid to get different prescriptions filled at different pharmacies. UPDATE. As some readers have pointed out, there are possible issues that can arise from using different pharmacies for your prescriptions, BUT this doesn't have to be unsafe. As long as you take a list of all the medications you are taking with you to each pharmacy, they can see if there will be any interactions. This advice came from several oline sources and magazines, including Good Housekeeping and WebMD.

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This article is from Paul Michael of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

The $5 Gadget That Can Save You Thousands of Dollars

Paul Michael — Wed, 27 Jan 2010 17:00:03 +0000

Economically, times are still tough. And with healthcare being at the top of a long list of concerns about money, anyone taking medication should invest in a small gadget that can literally save you a small fortune every year. The gadget in question…a simple pill splitter.

Recently I changed jobs and with the change came a rise in my healthcare costs, particularly for medication that I have to take. But never one to just accept the change and pay the extra price, I looked at my options.

I wondered…could I just split a higher dose of the medication in half and get 60 days out of a 30-day supply? After all, when I was weaning myself off a medication a few years ago, my doctor instructed me to cut my pills in half. But instead of going down to a lower dosage, I could request a bigger dosage and simply chop it in half. Double the pills, half the price.

The overall cost would be the same as before my insurance costs went up (actually, a tiny bit cheaper) and I’d only have to pick up my meds once every two months.

It couldn’t be that easy, could it?

Well, it turns out it really was that easy for me. I take a medication that can be safely cut in half and therefore it was the perfect option for me (more on that in a second). A medication with a $50 monthly co-pay becomes a $25 co-pay. That adds up to a healthy $300 per year savings. If I’m on this for the rest of my life (I sure hope not) it would save me thousands and thousands of dollars.

But even if it’s just for another 3-4 years, that’s still a savings of at least $1200 on what is basically the same medication. All it takes is a $4.99 pill splitter from your local drug store, or Amazon if you prefer.

If you take more than one medication per year, you can see how the savings start to add up quickly, especially if you have no insurance whatsoever. Some of these drugs cost hundreds of dollars per month, and if you can chop that in half, you’re getting amazing savings.

So, are there any pills you can’t split?

YES. This is a major aspect of pill splitting that you need to be aware of. Some drugs can be split safely with no problems at all (often, the pill will have a small groove down the center to facilitate the splitting process). Others CANNOT be split, as this could cause serious side effects. There are four main types of pills that can’t be spilt safely, as noted by About.com:Health Insurance

Capsules

Capsules may contain a liquid, powder, or tiny pellets. If the capsule is split, the medication inside may spill and be impossible to divide evenly.

Extended-release medications

Extended-release, or long-acting medications, have coatings or ingredients that control how fast the drug is released from the pill. Splitting these tablets can destroy substances in the coating. This may result in too much of the drug being released at one time, which may cause dangerous side effects, or too little being released, which may cause your health condition to be poorly controlled.

Enteric-coated medications

Enteric-coated pills have a special coating to prevent the release of medication into your stomach. This is designed either to protect your stomach from the drug or to prevent the drug from being destroyed by the acids in your stomach.

Medications that require an exact dose

Some medications require that you get exactly the same dose each time you take it. Even very small deviations can cause problems. Cutting these pills could result in a dose that is too low to be helpful or a dose that is dangerously high. A good example of this is Coumadin (warfarin), a powerful blood thinner, which can cause excessive bleeding if you take too much, or allow blood clots to form if you take too little. Coumadin (warfarin) requires very accurate dosing and even a very slight difference in the cut halves can put you at risk for dangerous bleeding or clotting.

So as you can see, if you don't check with your doctor first about pill-splitting, you could put your health in danger. Please, make an appointment to discuss your options, your GP will almost always be happy to help you save money and stay healthy.

Even the insurance companies are getting in on this, with some now offering co-pay discounts for splitting your meds. That's a saving on top of a saving.

Bottom line, this is a safe and simple way to save yourself big bucks. If you're on a medication right now that can be doubled and split, you'll instantly cut the price of that medication in half. And all it takes a $5 gadget.

Further reading:

This article is from Paul Michael of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Free Prescription Drugs for Those Who Qualify

Linsey Knerl — Sat, 29 Dec 2007 15:53:17 +0000

Prescription drugs are expensive. While generics do offer some relief, if you have to have several filled, your pharmacy bill can add up fast. Here are a few free prescription promotions to assist a limited number of patients in the U.S. – But hurry! Some of these offers expire soon!

The Blues – Several Blues health insurance plans are offering to waive the co-pays on hundreds of generic prescriptions over the next few months as part of an initiative to educate consumers on their effectiveness. While I don’t have the exhaustive list of which Blue Cross Blue Shield plans are participating in a no-copay program, here are a few more notable promotions:

BCBS of Nebraska – The health insurer is waiving the copay and coinsurance on generic prescriptions filled between January 1, 2008 and March 31, 2008. That’s 3 months of free prescriptions for their customers!

Independence Blue Cross – The Southern PA insurer led the way with its successful No Pay Copay program for generic drugs. This program is scheduled to end December, 31, 2007.

BCBS of North Carolina – While we don’t have all the details, the company announced that, beginning January 1, 2008, it is waiving the co-payment for some generic drugs and lowering the cost of 40 brand-name drugs. The health care company's waiver will apply specifically to all generic drugs -- such as Zocor, Norvasc and Glucophage -- that treat congestive heart failure, high blood pressure, high cholesterol and diabetes.

Publix and Meijer – Those of us without insurance, or who are not currently with a Blues plan, can take advantage of free generic antibiotics filled through Publix pharmacies. The covered prescriptions include: Amoxicillin, Cephalexin, Sulfamethoxazole/Trimethoprim (SMZ-TMP), Ciprofloxacin (excluding ciprofloxacin XR), Penicillin VK, Ampicillin, and Erythromycin (excluding Ery-Tab).

While some public health officials are upset about the program, claiming that Publix is contributing to the progression of antibiotic-resistant diseases, Publix is using its own statistics to justify the program. “These antibiotics account for almost 50 percent of the generic, pediatric prescriptions filled at Publix. New or current customers simply need to provide their Publix pharmacist with their prescription, up to a 14-day supply, and it will be filled at no charge. Publix is not limiting the number of prescriptions customers may fill for free.”

Meijer is also participating in a similar program. See this list of store locations.

While these cost-saving programs aren’t going to help everyone, it seems to be a step in the right direction. Do you know of a free prescription promotion that we missed? Email us at tips@wisebread.com and let us know! Here’s to your health!

This article is from Linsey Knerl of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Being asthmatic just got more expensive

Andrea Karim — Wed, 04 Apr 2007 19:22:55 +0000

Feeling wheezy? Asthma attack coming on? Reaching for that inhaler? Let's stop and think about the CPP (cost per puff). Oh, it may not seem like much now, but that will all change soon.

The cost of an albuterol inhaler is going to nearly triple, due to the repatenting of the propellant used in the most common drugs used to reduce the inflamation associated with an asthma attack.

Traditionally, the propellant used in most inhalers (and many other day-to-day items and appliances) were CFCs, which were found to be detrimental to the ozone. Although CFCs (chlorofluorocarbons) were phased out of other products, they remain in prescription inhalers. That's all about to change, however, and the new propellant, HFA-134a, has been used in part to re-patent the inhaler design, which went generic (and became affordable) back in 1989.

For people with decent health insurance, this doesn't mean much, but for people who pay out-of-pocket for medicine, this is going to be a big hit in the wallet. The difference between $13.50 and $39.50 is striking, especially for people who use more than one inhaler per month.

As Sydney Spiesel from Slate.com says:

This makes me wonder about the balance of harms—what are the consequences of the CFCs dumped in the atmosphere by 52 million puffers compared with the asthmatics who will no longer able to pay for their medication? I don't know much about the contribution of asthma puffers to the atmospheric burden, but I have strong suspicions about the effects of the financial burden. The hike to $39.50 will cost about $1.35 billion more a year. That could mean less for daily necessities for some people without insurance, and less of other medications or care for some of the insured.

I'm not saying that you'll be better off going up to Canada or down to Mexico to purchase your inhalers in bulk, but... oh, wait. Yes, that is exactly what I am saying.

This article is from Andrea Karim of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread: