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Respected Contributor
Posts: 3,441
Registered: ‎03-09-2010

Drug prices now required in ads

HHS Secretary was just on, this bill has just been signed to allow for transparency. You will now be armed with the price of a drug that your doctor might recommend so if the drug is 50.00 or 5000. you can discuss with him/her to possibly find an alternative. No more getting a shock when you go to pick up your Rx. As it is now, there is nowhere you can go to find the price of a drug except for the pharmasist.

 

They figure that if the prices are out up front more people will indeed talk with dr about alternatives thus bringing prices down. (one small step at laest!)

 

They are sure the drug companys and pharma lobbyist will fight this but they will not prevail the secretary says.

Honored Contributor
Posts: 10,129
Registered: ‎10-25-2010

Re: Drug prices now required in ads

Because pharmacies all charge a different price, how will anyone know how much the drug is?

 

One of my dogs takes a "human drug". I get it at Costco for around $12.  I used to get it at CVS for around $18, but their price went up to about $89 there.   CVS clearly is ripping off it's customers.  

 

I wonder what price would be quoted for this drug.

Honored Contributor
Posts: 10,076
Registered: ‎03-09-2010

Re: Drug prices now required in ads

But don't those of us who have insurance still need to know the price after what our company will pay depending upon which pharmacy we're using?  I'm not understanding how my knowing the cost of a pill will tell me my cost.  

I know when my insurance was changed this year, one of my routine scripts went up $40 a quarter.  Yes, I know that's minor compared to many problems with drug prices, but it's the one I know.  The price of the drug seems to be the same, but not my co-pay with the new company.

Honored Contributor
Posts: 10,119
Registered: ‎06-09-2014

Re: Drug prices now required in ads

Hopefully this is a ballpark wholesale price so you know if a drug maker is being fair and that the pharmacy and wholeseller are not taking more than their full share of markup. 

 

It won't help much if the drug maker is setting that price.  By the time the wholeseller and pharmacy add on their costs, it might not move the needle much but it's a start.

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Honored Contributor
Posts: 10,129
Registered: ‎10-25-2010

Re: Drug prices now required in ads

[ Edited ]

@millieshops    You should have paperwork that describes the price of drugs in each tier. That chart should list what drugs are in each tier and the copay for each.

 

tier #1 is usually for generic 

tier #2 is for name brand drugs and generic drugs that are more expensive

Tier #3 or preferred drugs don't have a generic equivalent

Then  there are the IV drugs and speciality drugs.

 

You just need to know which tier your drug is in and you will know the copay ahead of time.

 

 

 

 

Respected Contributor
Posts: 3,441
Registered: ‎03-09-2010

Re: Drug prices now required in ads

I think getting the price of the drugs down first is a good start. Then I guess you can call around to the pharmacys to find who has the best price.

 

(As far as what your insurance pays, lets get the prices down then worry about that). imo

Trusted Contributor
Posts: 1,065
Registered: ‎03-26-2010

Re: Drug prices now required in ads

@CARMIE 

 

My formulary book tells me what Tier my prescriptions are in, but not what the copay will be.  One of my RX was $198 at Walgreens, and $69 at Costco.  Same drug, same day, same insurance.  I like that drug companies will have to list the costs in their ads.

Honored Contributor
Posts: 10,129
Registered: ‎10-25-2010

Re: Drug prices now required in ads

@mac116   Wow, that's quite a difference.

 

i think it will help if the prices are listed, but we all know that the drugs in those ads are new and expensive.  most do not have generic forms yet.

 

The most common drugs taken are not advertised.  Someone in America is making big money from pharmaceuticals.

Honored Contributor
Posts: 10,076
Registered: ‎03-09-2010

Re: Drug prices now required in ads

@CARMIE We do get that, so I could have known before I went to buy the script for the first time with the new company.

 

BUT, I had attended an information during which two of the company's reps provided info about the coming change and we were told that for the first year the prices would match what we'd been paying so I was shocked by the increase, but yes, the reps were wrong and you are right.  I could have known. The increase shows in the drug formulary -  I just hadn't bothered to look.

 

The good news is that none of the rest of my drugs increased this year and 2019 should also be the last year the drug that went up has no generic alternative for me to try!

 

 

Honored Contributor
Posts: 11,653
Registered: ‎03-11-2010

Re: Drug prices now required in ads

[ Edited ]

I have an easy solution for that. Any time a doctor prescribes a medication for me I tell him I want something that's cheap & has been around for a while that they know what the side effects are. I have been doing this for years since I was prescribed an eye drop years ago for $100 for a tiny bottle.

IMO all these drug commercials they put on TV should be against the law. I'm sick of seeing those commercials so much that I don't bother turning on the TV until after DH comes home from work.

The diabetes drug commercials make me sick. Not to metion all the side effects they say during the commercial. Some have cancer as a side effect. Who wants to take that??? Not me. They have this guy dancing around making it look like if you are diabetic & take this drug you will be a happy person dancing around??? Seriously???