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A look into cost of prescription drugs following passage of Inflation Reduction Act

A Look Into Cost Of Prescription Drugs Following Passage Of Inflation Reduction Act
A Look Into Cost Of Prescription Drugs Following Passage Of Inflation Reduction Act 02:39

(CBS DETROIT) - For some people, walking into a pharmacy could leave you with the decision of whether to pay for your medication or pay your car note.

The cost of these drugs is expensive, but pharmacist Hannah Khaledi says for some people, their deductibles could be extremely high.

"Ozempic runs about $850. Trulicity is about $850 interest. Entresto is very expensive for 60 tablets. Our cost in our pharmacy is $600 to over $600," Khaledi said.

"(Deductibles) could be from $20, $30, $50 and up to $500, $600, $700," Khaledi says.

She says many are shocked and often upset when they hear the price.

"The normal reaction is not very positive. People do not want to pay that much out-of-pocket," she said.

Khaledi says depending on your insurance to pay for the drugs can still leave you carrying a heavy load.

"Sometimes, their insurance passes on the cost right back to the patient. And sometimes they may pay half of the prescriptions' costs and make the patient pay the rest," she said.

President Joe Biden recently signed the Inflation Reduction Act into law, which lowers prescription drug prices in Medicare and caps the out-of-pocket cost for drugs seniors buy at the pharmacy to $2,000. But for those with commercial insurance, President of the Michigan Pharmacist Association Mike Crowe says it's not going to help.

"There's a lot more room for legislation and changes. And pharmacy benefits are one area that we'd like to see more action taken on, as with the pharmacy benefit managers and some of their practices there, and some ways they're uncompetitive and deceptive," Crowe said. "They force patients with chronic conditions to use their own PBM owned specialty and mail order and network pharmacies, which limits competition and drives up costs for them and for the health plans."

Crowe says to help lower the cost, he recommends joining a co-pay card program or checking the drug manufacturer as they sometimes can offer discounts.

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