clarkhoward.com: Clarchives clarkhoward - Clarchives Prescription plans & costs

clarkhoward.com: Clarchives clarkhoward - Clarchives Prescription plans & costs:

"Feb 24, 2006 -- Medicare mess means more people get generics
The federal government’s new Medicare drug program has been a financial and administrative disaster. So news about prescription drugs has been negative. But there is a silver lining. As a result of the federal boondoggle, more consumers are learning about generic drugs. A recent study found that 90 percent of people switch to generic meds as soon as one is available. With any brand name drug prescribed for you, always ask your doctor if there is a generic equivalent. Also remember that doctors sometimes prescribe therapeutic drugs for a condition, and that can be successful too. The truth is that generics cost pharmacies 1/20th the cost of the brand name. But pharmacies sell them for much more, so they make a much huge profit on the generic drugs. Also important to mention is that Costco Wholesale uses very different pricing methods than most pharmacies. Any prescription, whether generic or brand name, is marked up from wholesale instead of marked down from retail. And, no prescription is marked up by more than14 percent. So, on brand names Costco will save you some, but on generics the savings is huge. Now, Costco is a membership club in most states, meaning you have to pay $45 a year to walk in the door. But, Costco cannot keep you out if you’re just getting a prescription."