Inbox Questions | Prescription Prices: A Rant and a Response
Big Picture Retirement®
Devin Carroll
4.7 • 546 Ratings
🗓️ 9 January 2025
⏱️ 16 minutes
🧾️ Download transcript
Summary
Today's episode is part rant, part answer to Mike's question about the high cost of prescription drugs under Medicare Part D. We dive into why these costs are so steep, explore alternatives like Canadian pharmacies, and discuss what you can do to manage healthcare expenses in retirement.
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Transcript
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| 0:00.0 | Welcome to the Big Picture Retirement Show. |
| 0:07.7 | Today, we're going to the inbox to answer questions sent in by you, our listeners. |
| 0:12.7 | Now, if you'd like to send us a question, just head over to big pictureretirement.com and click |
| 0:17.3 | the Ask a Question tab in the top menu. |
| 0:19.8 | Oh, and just a quick reminder. |
| 0:21.2 | On this podcast, we provide general information |
| 0:24.3 | and not specific tax, legal, or financial advice. |
| 0:28.0 | But if you're ever ready to move |
| 0:29.6 | from the broad education we provide here |
| 0:31.9 | to personalized advice that's specific to you, |
| 0:35.6 | you can find links to our websites down in the description. Now let's jump in |
| 0:40.0 | today's question. Okay, John, today's question comes from Mike. And he actually prefaces this |
| 0:49.9 | by saying this is more of a suggestion than a question. Due to the high cost with certain drugs on Part D Medicare, |
| 0:55.8 | I've gone with a Canadian pharmacy for my eloquess generic. |
| 0:59.1 | It costs me $159 per month not using insurance versus $550 a month through my Part D coverage. |
| 1:07.1 | So that's one of the, it just frustrates me to no end. |
| 1:10.9 | And I'll have to admit, John, I just do not understand the health care system and how things like this can exist where you're paying $159 a month not using insurance. |
| 1:23.3 | Now, he's doing it through a Canadian pharmacy. |
| 1:25.6 | But I've heard of many stories where right here in the U.S. |
| 1:29.0 | In fact, I believe your MRI story was very similar to that. |
| 1:33.2 | Where a service, now this wasn't for a prescription. |
| 1:35.4 | It was a service was cheaper doing it cash pay than you would have had to pay out of pocket for insurance. |
... |
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