Can Mark Cuban’s New Pharmacy Save You on Prescription Drugs?

Billionaire owner of the Dallas Mavericks and “Shark Tank” star Mark Cuban has a new online pharmacy that can make your prescription drugs more affordable.

On January 25, Cuban announced the creation of the Mark Cuban Cost Plus Drug Company. There are currently 100 generic prescription drugs available on the pharmacy website, costplusdrugs.com. Medication is priced at cost plus 15% markup and $3 pharmacist fee.

To see how pricing works, consider a 30-day prescription for colchicine, a generic version of the anti-inflammatory drug Colcrys commonly used to treat gout. The drug retails for $176.10 but costs just $4.80 to manufacture.

Cost Plus Drug Company in Cuban charges $4.80 in drug manufacturing costs, plus a 15% markup of $0.90, plus a $3 pharmacist’s fee. Total cost for 30-day supply: $8.70.

Some other common medications available in online pharmacies include:

• albendazoleUsed to treat parasitic infections, $33. Its retail price is $437.68.
• fluoxetine, a generic version of the antidepressant Prozac, priced at $3.90. It retails for $22.94.
• Imatinib, a drug that treats leukemia and other cancers for $17.10. Its retail price is $2,502.50.
• lisinopril, a drug used to lower high blood pressure, priced at $3.60. Its retail price is $24.
• Mesalamine, for the treatment of ulcerative colitis, $36.90. Its retail price is $959.07.

Does the pharmacy accept insurance?

Can not. Cost Plus Drug Company does not accept insurance because it does not work with third-party pharmacy benefit management companies that manage drug benefits on behalf of insurance companies. This means that patients will have to pay out of pocket. However, the company’s website says its prices are often lower than what patients would pay out-of-pocket for the same drug at a retail pharmacy.

if you have a Health Savings Account (HSA) Or a Flexible Spending Account (FSA), where you can pay for your medication using your HSA/FSA card.

Do you accept coupons?

No, pharmacies do not currently accept coupons.

How much is shipping?

Shipping is $5, courtesy of digital healthcare company Truepill.

How do I order a prescription?

use Pharmacy’s website See if the medicines you are taking are available.Then you can contact your doctor and ask them Send your prescription directly Go to Mark Cuban Cost Plus Drug Company.

What if my medication is not provided?

The pharmacy currently offers 100 generic drugs, but it plans to add more to its roster. If you are taking a brand-name drug, you can ask your doctor if you can switch to the generic version. Other options to reduce the cost of prescription drugs:

• Use Amazon Prime. If you have an Amazon Prime membership, you can save up to 80% on generics and 40% on brand-name drugs by Amazon Pharmacy If you pay without insurance. Most insurance plans are accepted, though. You also get free shipping, which can take up to five days, but you can pay $5.99 for expedited shipping.

• Use a prescription discount card. bring one Prescription Discount Card service, you can search for a nearby pharmacy that offers the lowest drug prices. After choosing a pharmacy, print the coupon or show the code to the pharmacist using the mobile app. If you have insurance, you can ask the pharmacist if it’s cheaper to use a discount code, or pay a copay through your insurance. (You cannot use your insurance and discount card for the same prescription at the same time.)

• Try other mail order pharmacies. Mail-order pharmacies can often save you money on prescription drugs. Since deliveries can be slow, this option is best for medications you take on a regular basis so that you can order at least two weeks in advance. You can often save more money by ordering a 90-day supply instead of a 30-day supply.

Robin Hartill is a certified financial planner and senior writer for The Penny Hoarder.Send your tough money questions to [email protected] or chat with her penny hoarders community.