Funny Math ~ 10/29/20

I have not done one of these posts in a while. I have one related to the cost of prescription drug prices. Shocker I know! Such a racket. All of it!!

I have taken Crestor since 2003. I am on the very lowest therapeutic dose of 5 mg. Then I quarter it with my handy dandy pill splitter gadget. Originally I did this not to save money but to reduce the chance of side effects being generally pill adverse.

Somewhere along the way my insurance coverage changed. I was no longer fully covered at the discounted rates. I fought to get refills in 2017 eventually getting a “coupon” from the manufacturer. Since I quarter the pills, I have a year left of that 2017 order. To be safe and check out the current RX situation, I looked into a refill when I had my tele-med appointment earlier this year.

I went through a whole rigmarole to get pre-approved since for non-generic name brands that is now required. Even after approvals, my cost was $900 smack-a-roos. I was told the reason is I had yet to meet my deductible. Once that happens, the cost is only $221. Still way more than what I paid under a prior plan when everything was $30 brand and $7 generic.

Now the funny math. To get back to the $30/$7 plan, the cost of my insurance is about $1800 more a year. I am obviously better off paying the $900 barring no additional medical bills. Then I remembered some sage advice from a former mentor who said “I’d rather pay the doctor when I need him or her instead of an insurance company “just in case” I need to see a doctor”.

I know I cannot forgo health insurance. That is the main reason I still work. After 36 years of being a penny pincher, we probably could survive on my pension and 401K. But, we’d have to take out a mortgage for health insurance. Yeppers I realize I am being extreme. Maybe not a mortgage but perhaps a lien for a mid-sized car loan. And don’t get me started on property taxes! Oy Vey!!!

As always, more to come.