Lowering prescription costs is the goal of a partnership between Capital Blue Cross and the Mark Cuban Cost Plus Drug Company, according to a joint news release from the two companies. The move will help bring high-quality, lower-cost prescription drugs to Capital’s members as well as the communities it serves, said Capital Blue President and CEO Todd Shamash.
Cost Plus Drugs – launched earlier this year by its entrepreneurial namesake – is disrupting the pharmaceutical industry with transparent drug pricing and minimal markups and fees. The company charges consumers only 15% more than it pays to buy a drug from the manufacturer, along with a $3 per-prescription dispensing fee and shipping.
As a result, consumers can experience savings of up to 80% on some of the most commonly prescribed generic drugs. For example, atorvastatin, a commonly used cholesterol lowering medication, is around $4 per month through Cost Plus Drugs and can cost significantly more at retail.
“Capital’s collaboration with Cost Plus Drugs will help us bring lower-cost medications to members and nonmembers alike across our service area, providing some much-needed relief to those struggling to pay for their vital – and sometimes life-saving – medications,” Shamash said. “We are passionately committed to finding new ways, new relationships that help us improve affordability in healthcare.”
“Our mission at Cost Plus Drugs is to ensure all consumers have access to the medications they need to be healthy – a goal Capital Blue Cross shares,” said Dr. Alex Oshmyansky, CEO of Mark Cuban Cost Plus Drug Company. “Working with a like-minded organization like Capital gives us more momentum to help people get the medications they need at costs they can afford.”
According to a September 2021 Gallup poll, 18 million Americans have been unable to afford at least one prescription medication for their household, and 1 in 10 Americans have skipped doses to save money. Both Capital Blue Cross and Cost Plus Drugs are dedicated to helping lower prescription drug costs to consumers so they don’t have to skip needed medications.
This month, Capital Blue Cross and Cost Plus Drugs will begin sharing information about their collaboration with Capital members and community organizations to explain how they can access the availability of low-cost drugs. More information is available on Capital’s website.
In 2023, Capital Blue Cross members will be able to use their insurance cards at Cost Plus Drugs, further increasing access and lowering out-of-pocket costs for Capital members and their families.
About Capital Blue Cross
Capital Blue Cross serves a 21-county region in Central Pennsylvania and the Lehigh Valley by offering health insurance products, services and technology solutions that provide peace of mind and promote health and wellness for our members. We focus on simplifying and personalizing the healthcare experience and using innovative solutions – including patient-focused care models, actionable data, and digital health technologies – to create healthier lives and lower healthcare costs. Our Capital Blue Cross Connect health and wellness centers provide in-person service and inspiration to help people reach their health goals. Capital Blue Cross is an independent licensee of the Blue Cross Blue Shield Association.
About Mark Cuban Cost Plus Drug Company
The Mark Cuban Cost Plus Drug Company, PBC (Cost Plus Drugs) aims to fundamentally change the way the pharmaceutical industry operates. As a public-benefit corporation, its social mission of improving public health is just as important as the bottom line. Cost Plus Drugs transparently charges a standard markup on every drug it sells. The costplusdrugs.com online pharmacy launched in January 2022 now carries nearly 1,000 prescription products, delivered by mail to thousands of happy customers every day. Cost Plus Drugs is working with health plans, managed-care organizations, pharmacy benefits managers (PBMs) and self-insured employers to bring these same savings to employer-sponsored benefit plans nationwide.