Drug Costs

July 11, 2022
Tom McCutcheon
Insights
Serving North Alabama

Prescription Drug Cost

Because we do personal injury, we see healthcare costs every day. We see people who struggle to get the care they need. We also see people who cannot afford to get the care they need. The law provides some remedy for the cost of future medical care and medical care that is prescribed by a physician. But the legal system is slow, and when people need medical care, they need it fast.

Rising Cost of Healthcare

Does the Cost of Your Medications Affect Your Quality of Life?

Personally, I like watching Shark Tank. One of my favorite sharks is Mark Cuban. I think it is worth knowing that Mark Cuban recently began a new business that really will help people get better prices on the prescription drugs they need.

Cost Plus Drug Co. is a new business venture by Mark Cuban that sells generic drugs for the manufacturer’s cost, plus a 15% markup and a $3.00 service fee.

The Department of Health and Human Services found that in 2019, 3.5 million Medicare recipients over the age of 65 reported they had difficulty affording their prescription drug bills. A report released by a congressional study on oversight found that Medicare would have saved over $25 billion in a five-year period if they had paid the same price for seven similar drugs.

Certainly, Good RX is a workable solution in certain cases, and WalMart has competitive prices on generic drugs. I admire Publix for keeping a list of medications that they give at no charge.

In our business, insurance companies always try not to pay claims. If an injured person is prescribed a medication by a doctor and they do not fill that prescription, the insurance laughs all the way to the bank because they will try and persuade the jury that if the person needed it, they would have gotten it. For a lot of people, that is just not the case. I have seen plenty of parents put their children’s needs over their own medical needs only to have an insurance company argue that if they had needed it, they would have gotten it. If you are having trouble affording certain drugs, look into Cost Plus Drug Co. It very well may be worth your time.

Buckle up, drive safely and as always, your referrals are appreciated! (256) 333-5000

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