Peter Loftus
speaker
70 appearances
1 recordings
1 series
first heard Jan 2024
last heard Jan 2024
Peter Loftus’s voice in public audio — every appearance, attributed to the second.
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Appearances
You could either get prescription drugs for free or you could get them for something like $5 to $11 a month.
And one of the reasons is the VA can negotiate directly with drug manufacturers on pricing.
And there's also some built-in price discounts that are mandated by law.
And so that allows the VA to provide drugs at lower prices for its VA members.
And sometimes it pays to do that instead of just using whatever other health insurance you might have, either through your job or Medicare.
Sometimes, if you just pay directly cash for a prescription at certain pharmacies, you might actually pay less than what your own insurance plan would require you to pay as a copay.
So, for instance, if your copay is $10 a month,
There are places like Walmart where you could get that drug if it's on their list for only $4.
And so in that case, it's not really worth going with your insurance plan.
It might be better to just pay directly.
Depending on the costs of the drugs, you might have to do some calculations to figure out if in the long run, it's going to cost you less to just pay cash directly for a prescription or to actually utilize the out-of-pocket copay requirement that your insurance plan has.
What these drug companies do is they offer ways, and you can usually apply online, to help reduce your costs.
And so one way that they do this...
is to help you pay your co-pay.
So let's say your co-pay is $150 a month, which can be the case for certain drugs.
The drug company would pay most of that so that you're only paying five or $10 a month.
If you're in Medicare, where that kind of assistance isn't really allowed,
There are these third party nonprofit foundations that can basically also provide copay assistance.
Another aspect of this is if, let's say, you're uninsured or you're just having a tough time meeting the costs of these drugs and you meet certain income criteria, you might be eligible to just get the drug for free from the company.
Another piece of advice that the experts have about this is sometimes
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