The government says drug prices dropped more than 3% over the last year, the biggest decrease in more than 60 years.
According to the Consumer Price Index, the average price has either stayed the same -- or gone down -- every month this year. Not a single increase.
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Analysts say the government measures drug prices based on how much pharmacies get paid, which could mean you’re paying the same or more, but that insurance companies are the ones paying less.
Either way, the Trump administration credits its “Most Favored Nation pricing” and “TrumpRx,” saying the first brought “17 of the world’s largest drugmakers ... in line with the lowest paid by comparable developed nations” and the administration says TrumpRx has made all sorts of drugs -- including GLP-1s -- less expensive.
Some, like PBS, attribute the drop in prices to “generic and biosimilar products” hitting the market, “offering competition that drives down the price of expensive brand-name and biologic drugs.”
There’s also a recent law making a dent on how much Medicare pays for 10 of the most expensive meds they cover.
But no matter what the prices are and why, you want to pay as little as possible.
So, if you’re having trouble paying for your meds, Action 9 attorney Jason Stoogenke says:
- First, ask your doctor for free samples. This is more of a short-term solution, but it may buy you time.
- See if your doctor is OK with a similar, less expensive option.
- Ask your pharmacy for coupons.
- Ask them if it’s cheaper if you pay out of pocket. That may be less than using insurance.
- See if the drug company has patient-assistance programs. You’d be surprised. He’s seen this work.
- North Carolina has a free pharmacy program: NC MedAssist. It’s income-based, for patients who don’t have insurance. South Carolina has something similar, but only for HIV meds.
- You may qualify for help from certain clinics.
- You may want to check out certain websites.
“We pay insurance over $1,000 a month to give us coverage and, yet, the coverage that they give us for prescriptions sometimes is more expensive than what we get from a company like GoodRx or from Blink,” patient Trace Gouws said.
Stoogenke also advises being careful using certain online pharmacies. The drugs may be dangerous.
Click here for suggestions on safe online prescription shopping.