Posts Tagged ‘healthcare costs’

by Lisa Zamosky

Whoever came up with the saying “The devil is in the details,” must have been thinking about health insurance at the time. There are nuances and exceptions galore that can quickly lead to denied claims and unpaid medical services. Unfortunately, many of us only find out the painful truth about our coverage once we get sick. While Congress continues to work on health care reform this weekend, here are five commonly held myths about health insurance – and the facts to debunk them: (more…)

by Lisa Zamosky

Drug prices, like everything but your salary, are going up. According to a 2009 article in the Wall Street Journal, the prices for about a dozen of the most popular brand name drugs increased by double digits in the first quarter of 2009 from just one year before – this, in the midst of the worst economic crisis we’ve seen since the Great Depression!

As a result of growing pharmaceutical costs, which have outpaced inflation, the Kaiser Family Foundation found in a survey conducted last year that 30 percent of Americans did not fill a prescription for medicine and 20 percent were cutting pills in half or skipping doses.  I expect those numbers are even higher today with unemployment rates topping 10% and health insurance benefits going away for so many people.

Many people delay a trip to the doctor or a medical procedure out of a need to save money. Not great, but most often not life threatening. However, skimping on doses of medication you take to manage a chronic condition can quickly become dangerous. Still, so many people today are faced with steep drug prices and diminishing wages, making it very difficult to continue to pay for needed medications.

Times are tough, but fortunately there are a number of ways to cut costs on prescription drugs, including accessing programs aimed at offering those in need free or reduced cost prescriptions. If you’re struggling to pay for your medications, here are a few ways you may be able to catch a break. (more…)