Prescription Drug Hacks
By Robert Rapier
I am an unapologetic capitalist. I own several stocks in the healthcare sector. However, to put it mildly, I think the U.S. for-profit healthcare system leaves a lot to be desired.
For example, every day people are denied care by an insurance company that was deemed necessary by a doctor. It has happened to me. My doctor had to appeal the decision multiple times before they allowed it. This happens because we have insurance companies positioned between us and our healthcare, and they have financial incentives to deny you healthcare.
Thus, I try to hack this system as much as I can. This column is often dedicated to investments. But today I want to show you how to save money in our healthcare system. After all, if you spend all your money on healthcare, you won't have anything left to invest.
How to Slash Your Medication Costs
One area with enormous potential for saving money is prescription drugs. Earlier this month my wife had to pay $90 for medication at our local pharmacy because deductibles reset with the new year. I knew that this was far above the cost. I decided to find a better price elsewhere.
A few years ago, I happened upon GoodRx. You can go to the site and generate coupons for massive discounts on prescription drugs. It's simple. Just enter the name and dose of the medication, select which pharmacy you want to use, and it generates a coupon that looks something like this.
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