by Robin Hartill, CFP®
Senior Editor
Mark Cuban, the billionaire owner of the Dallas Mavericks and “Shark Tank” star, has a new online pharmacy that could make your prescription medications more affordable.
On Jan. 25, Cuban announced the launch of the Mark Cuban Cost Plus Drug Company. Currently, 100 generic prescription medications are available on the pharmacy website, costplusdrugs.com. Medications are priced at cost plus a 15% markup and a $3 pharmacist fee.
To understand how pricing works, take the example of a 30-day prescription of Colchicine, a generic version of anti-inflammatory medication Colcrys that’s commonly used to treat gout. The drug’s retail price is $176.10, but only costs $4.80 to manufacture.
Cuban’s Cost Plus Drug Company charges the $4.80 cost to make the drug, plus $0.90 for the 15% markup, plus the $3 pharmacist fee. The total cost for a 30-day supply: $8.70.
Some other common medications the online pharmacy offers include:
No. Cost Plus Drug Company doesn’t accept insurance because it doesn’t work with third-party pharmacy benefit management companies that manage drug benefits on behalf of insurers. That means patients will have to pay out of pocket. However, the company’s website states that its prices are often lower than a patient’s co-pay for the same drug at a retail pharmacy.
If you have a health savings account (HSA) or flexible spending account (FSA), you can use your HSA/FSA card to pay for medications.
No, the pharmacy doesn’t currently accept coupons.
Shipping costs $5 and is provided by digital healthcare company Truepill.
Use the pharmacy’s website to see if the medication you’re taking is available. Then you can contact your doctor and ask them to send your prescriptions directly to the Mark Cuban Cost Plus Drug Company.
The pharmacy currently offers 100 generic drugs, though it plans to add more to its roster. If you’re taking a brand-name medication, you could ask your doctor if you could switch to the generic version. Other options for lowering the cost of your prescription drugs:
Robin Hartill is a certified financial planner and a senior writer at The Penny Hoarder. Send your tricky money questions to [email protected] or chat with her in The Penny Hoarder Community.
Ready to stop worrying about money?
Get the Penny Hoarder Daily
Privacy Policy
© 2022 The Penny Hoarder. – All rights reserved.
Privacy Policy and Terms of Service | Do Not Sell My Personal Information | Cookies Settings

source