The list of things both sides of the aisle agree on DC is a pretty short list. But lowering health care costs is definitely on it. This week, the Trump admin made a big announcement: Starting this summer, pharma companies will have to include drug prices in their TV ads. Right now, naming that loooong list of side effects at the end is the only main requirement. Here’s how this news could affect your wallet
Drug prices could drop. That’s the idea, anyway. Fans of the new rule think that making drug companies include prices could shame them into lowering them. That's because you're less likely to name-drop a med at your doctor's office if you know it's really expensive.
You can have more financially friendly convos with your doc. Lots of the most commonly advertised meds cost thousands of dollars per month. If your doc suggests an expensive one you recognize from TV, you can ask about generic or other alternatives that might be just as effective.
theSkimm: Drug companies aren’t happy about this news. They say the new rule could confuse patients with insurance who’d never pay full price anyway. True for some. But if you have a high-deductible plan, you might pay full price...at least until you meet your deductible and insurance kicks in.
No matter what happens next, there are ways to control your prescription costs. Call your insurance company to find out exactly what’s covered and what you’ll pay. Then ask if your pharmacy participates in a drug discount program that can save you money. And don’t forget to Google prescription coupon codes on sites before checking out.