The prognosis for medications in 2018 is not good. A recent report from the U.S. Senate stated the prices of brand-name drugs are increasing at a much faster rate than inflation, especially for seniors’ most commonly used drugs. The more we dig into the details of prescription drug prices, the more outlandish it becomes.
These are all the ways your pharmacy may be ripping you off — and three ways you can take action. Many pharmacists are sworn to secrecy about one shady practice (on page 10).
1. You’re still overpaying for name-brand medications
Consumer Reports found 4 in 10 people said their doctors sometimes or never recommend generics over brand-name drugs. You’re falling for a name and paying the price. But with generic prescriptions on the rise, you should look to see whether your name-brand prescription has a generic counterpart that is just as wonderful and effective.
Next: Pharmacies can charge higher prices since you and your insurance company pick up the tab.