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business Tuesday 14 June 2022
Liz Weston: How to afford your meds and support your health

By LIZ WESTON of NerdWal- with dozens of insurance just 54 cents at ScriptCo.
let plans with different formu- By contrast, insurance co-
The cost of prescription laries, or lists of drugs, and payments for workers with
drugs in the U.S. can be how they're covered, Purvis prescription drug coverage
enough to make you sick. explains. In addition, insur- averaged $11 to $12 last
What you pay varies enor- ers may strike deals with year for the least expen-
mously depending on the certain pharmacies, so a sive drugs, including many
drug, the pharmacy, your drug that costs $60 at one generics, according to
insurance plan and your could cost $160 at another. KFF, the nonpartisan health
deductible, among many If affording a drug is a chal- care think tank formerly
other factors. A drug that lenge, your physician may known as the Kaiser Family
may have been cheap be able to suggest alterna- Foundation.
or at least affordable the tives, such as a generic or Your savings may be off-
last time you filled it could a different type of medica- set by membership fees:
be far more expensive or tion. Two other questions Amazon's Prime member-
not covered at all the next you can ask: whether a ship — which you'll need if
time. medication you've been you want the lowest prices
Often, people have no taking for a while is still nec- — is $139 per year or $14.99
idea what a prescription essary and what lifestyle per month, while ScriptCo
will cost until they get to changes might reduce or charges $140 per year or
the pharmacy counter, eliminate the need for pre- This undated file photo provided by NerdWallet shows Liz Weston, $50 per quarter. Costco has
says Leigh Purvis , director scriptions. a columnist for personal finance website NerdWallet.com. a membership fee of $60 a
of health care costs and If you have insurance, re- Associated Press year, but you don't need
access for AARP's Public view your drug coverage to be a member to order
Policy Institute. options carefully each may offer a mail-order op- several limited-service prescriptions online or at its
Still, finding a way to afford year at open enrollment tion to reduce costs, but startups — including Cost warehouse stores.
your meds is important. — that yearly period in the don't assume that's your Plus, GeniusRx, Honeybee, INVESTIGATE OTHER DIS-
People who don't take fall when you choose your best option. Shopping Ro Pharmacy and ScriptCo COUNTS
medicine as prescribed health insurance for the fol- around could deliver signifi- — offer deals on generic GoodRx has a website and
because of the cost could lowing year. Make a list of cant savings. drugs. The startups usu- an app that allows you to
wind up sicker — or dead. all your medications with LOOK AT ONLINE PRICES ally don't take insurance, compare prices at nearby
"What is a potentially rela- their dosages, and check Start your search online. but their prices can be less chain pharmacies, and it
tively small problem today, how those are covered by The number of online phar- than the typical co-pay- provides free coupons that
like high cholesterol, could each plan. Insurers regular- macies has exploded in ment, according to Con- can save up to 80% off of
turn into a much bigger ly change their formularies, recent years, giving you sumer Reports. For exam- the list price. You'll find an-
problem like a heart attack so you may need to switch many more opportunities ple, the consumer research other price comparison tool
down the road if you don't plans to get the best cover- to save. organization found that a that includes local phar-
treat it," Purvis says. age. And even if your drugs Amazon launched a full- 30-day supply for 20 milli- macies at NeedyMeds, a
CHECK WITH YOUR DOCTOR are covered, you'll typically service pharmacy in 2020, grams of atorvastatin — a nonprofit that helps people
AND INSURANCE PLAN have to pay out of pocket joining more established cholesterol drug — ranged find drug manufacturing
Your doctors may not know for prescriptions until you dispensaries, such as Cost- from $14.60 at Amazon discount programs and
what your medications cost meet your deductible. co.com and HealthWare- and $13.99 at Costco.com, other ways to reduce med-
you, since they're dealing Your insurer or pharmacy house.com. Besides those, to $3 at Honeybee and ication costs. q
Automakers ask Congress to lift electric vehicle tax cap

Associated Press lifted until "the EV mar- lowed them to offer more
NEW YORK (AP) — Major ket is more mature," they affordable cars to people,
automakers are asking said, without giving a time helping accelerate the
Congress to lift the cap on frame. adoption of EVs. However,
how many people can re- "Eliminating the cap will the companies said recent
ceive tax credits for buying incentivize consumer economic conditions and
a hybrid or fully electric ve- adoption of future electri- supply chain constraints
hicle. fied options and provide have raised the cost of
Currently the number of much-needed certainty to manufacturing EVs and
tax credits allowed are our customers and domes- those costs have to passed
capped at 200,000 per tic workforce," the CEOs on to car buyers already
company. General Motors wrote. paying more for almost ev-
and Tesla have already The request comes as erything.
reached the cap and Toy- Americans find themselves President Joe Biden has at-
ota is close to it. financially pinched from all tempted to ensure the sup- A 2021 Ford Mustang Mach E charges at a Ford dealer in Wex-
In a letter to leaders of the directions by four-decade ply of materials needed to ford, Pa on May 6, 2021.
Senate and House of Rep- high inflation. Energy prices produce electric vehicles Associated Press
resentatives on Monday, have been especially bad, continues to flow as the na-
the chief executives of with the average cost for tion transitions away from vehicles. of electric range, gets
Ford, Toyota, GM and Stel- a gallon of gas in the U.S. fossil fuels. Toyota's plug-in RAV4 Prime $4,500.
lantis asked that tax credits breaching $5 this week- Biden in April invoked the small SUV with 42 miles of The letter was signed by
be extended to anyone end, according to the auto 1950 Defense Production electric range earns the GM CEO Mary Barra, Toy-
who seeks to buy a quali- club AAA. Act to boost production of buyer a $7,500 credit, the ota CEO Ted Ogawa, Ford
fied vehicle. Automakers said Monday lithium and other minerals largest available. The Prius CEO Jim Farley and Stellan-
Automakers want the cap that the tax credit has al- critical in powering electric Prime plug-in, with 25 miles tis CEO Carlos Tavares.q