Dr. Mike Takes His Own Advice to Save Money on Medications!
Last month I hit the coverage gap in my Medicare Part D drug plan. The dreaded coverage gap, also known as the “donut hole” is the period during which Medicare drug plan beneficiaries have to pay 100% of their drug costs.
Some Medicare Part D plans, like mine, cover generic medications during the coverage gap. However, one of the medications I take for high blood pressure (Diovan 80mg) does not have a generic version and I have to pay full price!
How Dr. Mike Can Save $500.00
While in the donut hole, my monthly cost for Diovan 80mg is $144.00 if I purchase the medication through my Medicare Part D plan. My total cost for September thru December is $576.00. To save money, I decided to try pill splitting and buying my medication online from a reputable Canadian pharmacy.
These are the steps I have taken to save $500.00:
- I did some research and found out that it was safe to split Diovan.
- I asked my doctor to write a prescription for Diovan 160mg, twice the dose that I usually take.
- I ordered 60 tablets of Diovan 160mg online along with a pill splitting device. The cost for the medication was $66.00 plus $10.00 shipping.
- Each day, I split one pill, take half and save the other half for the next day.
Generics a Better Option
The least expensive option for me would be taking a generic version of an ACE inhibitor, a class of drugs that would work well to treat my blood pressure. However, I am allergic to ACE inhibitors and need to take Diovan. The cost of a generic ace inhibitor would be about $20.00 for the entire four months.
Are You in the Donut Hole?
If you have hit the donut hole, it’s not too late to explore ways to save on the costs of your medications. Take a look at How to Save Money on Your Medications for tips and step-by-step information.
What do you think? Leave a comment below or in the Medication Forum.
To stay up to date on medications get Dr. Mike’s Drug Information Newsletter.
..............................................
Photo © 2lbgil/istockphoto.com
Comments
Very interesting approach for saving money. Thanks for the insight. But how do you know those drugs are safe? I mean, aren’t those pharmacies based in a foreign country where there is no FDA? In fact, I heard many of them were actually in Canada.
Gooper:
Did you mean that some of them were actually not in Canada? If so, you are correct and you need to be careful. Buying drugs in Canada can be safe. Canada has a good control system and many of the drugs are manufactured by American drug companies in Canada or imported from the U.S. It’s important that you learn how to recognize a legitimate online pharmacy.
In my blog post, there is a link to articles about how to save money on medications. These articles tell you how to buy drugs online and how to buy drugs in Canada.
While on a cruise, my grandmother and I stopped in a pharmacy to buy her glucofage. Everything seemed on the up and up about it but after two days of taking it she went into a diabetic shock. The ship doctor told us that it was the right dosage but that there was an enhancer added to it that made it too strong for her. So be careful about the small foreign print.
jh
JH:
I completely agree. It’s very important to read the fine print and to ask the pharmacist questions about the medication. The following articles have information about buying medications across the borders and when travelling.
Crossing the Border to Buy Medications
How to Travel With Medications
Dr. Mike,
I would have bought supplemental insurance (much earlier on) to cover all medical costs that Medicare doesn’t pay, including drugs, but if I dare to do that now my husband’s retirement (supplemental)coverage insurance would be canceled immediately. As I understand it, that’s a rule put out by the government. I don’t want to make a profit–which I think is the government’s motive or fear–I just want to find a good doctor who doesn’t chalk me off because I have Medicare listed as my primary. I am not given a choice.
Why would anyone be penalized if they tried to pay the unpaid portion of health care expenses, including drugs, via an additional insurance policy? We are retired and on a fixed income and we worry that as we grow even older, our medical expenses–including medicines–could possibley exceed our financial means. What then?
I have been searching for weeks for a Family Doctor to accept me as a patient (I am currently with a specialist who would rather I find a regular Family Doctor because she does not really like to treat Medicare people “for pennies on the dollar”, but because I’m on Medicare no one wants to take me on. We have elderly friends who cannot pay for their medicines–and perhaps those who are not yet there will not understand–but they will one day when reality hits them between the eyes. As the cliché’ goes, what is wrong with this screwed-up healthcare picture? It should be: What is NOT wrong with this picture? Surely someone in government can figure this out because not everyone can be rich. However, free-loaders should not be allowed to shirk paying their share, either.
Personally, I am afraid of generics and would prefer to cut the budget somewhere else and get the real drug and be in hopes that I am not about to swallow a counterfeit drug made in the dark back streets of China and sold to a dishonest drug merchant to unsuspecting pharmacies. (Saw a reliable Special on this subject. Even the pharmacists who checked the counterfeit against the legitimate could not tell which was which.
Oh, confidence in the shaky system, wherefore art thou?)
Fran:
I’m sorry that you are having so many problems with Medicare, especially finding a good primary care physician. What part of the country do you live in? I do have some contacts and perhaps I can help you locate a good physician. No promises, it depends on where you live.
Also, I’m not sure that I agree with your assumption about the threat of counterfeit medications winding up in U.S. pharmacies. Ordering online from foreign countries, if you don’t use the right pharmacy, does put you at risk for getting a counterfeit. But the chances of that happening in a local drugstore is minimal. In fact, many generics are made in the U.S. or by the same drug companies that make brand name drugs. The largest generic drug company in the world is TEVA located in Tel Aviv, Israel. They have drug production standards as high as the U.S.
Again, let me know where you live and I’ll see if I can find someone for you. You can email me at drugs.guide@about.com
Mike Bihari
Very good article… generic drugs are so much cheaper online and overseas. if anyone’s interested in learning to buy them safely… i recomend they visit the Pharmers Market
Keep up the good work, doc!
Bill:
Thanks for your comment. I looked at your website and although I applaud your efforts to help people get inexpensive medications, I am concerned that you are encouraging people to do so without a prescription. In fact, you have a disclaimer on every page, which I pasted below. You do say people should have a diagnosis from a physician. They should, at that time, get a prescription. They can use that prescription to get their meds online from reputable pharmacies, all of which require a prescription.
Many of the medications on your list are very powerful drugs affecting the nervous system and brain. A combination of these meds could cause very serious side effects, including death.
Your disclaimer: “It is illegal in most countries (this includes the United States) to have prescription drugs without a valid doctor’s prescription. We strictly discourage anyone from using medicines to which they are not prescribed. We do not condone the use or sale of any drugs, prescription or otherwise to minors or anyone not diagnosed by a real doctor. The information contained on this website is not intended for self-diagnosing, self-medicating users. If you need help, please see a doctor. Pharmers Market is only intended for legal and informational use only.”
Hi Dr. Mike,
I understand your concern and indeed the site does seem to encourage people to buy drugs without a prescription. However, many people are unable or unwilling to visit a doctor, pay them the fees, or invade their privacy.
Here are a few good reasons:
1. Somebody with an embarrassing condition like ED, an STD, etc.
2. Somebody with an expired or prior prescription who is well-informed of the drug’s affects
3. Anyone who simply does not want to involve doctors, the government, or any insurance company (Privacy advocates, like me)
The Pharmers Market is actually meant to inform the user about drugs and pharmacies. The disclaimer is posted following the rule of CYA.
Great advice. I came across another great article on how to deal with the donut hole. It is at:
http://www.seniorark.com/I%20have%20fallen%20into%20the%20doughnut%20hole.htm