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Filling your prescriptions has become a nightmare for some due to a lack of price transparency and huge differences in affordabilty. Find out how capitalsim is working to improve the marketplace for you later in this email. |
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💵 Today’s Top Stories |
| | Where can you find the cheapest tires and the best service? And how does Clark value post-purchase service vs. buying purely on price? Read more. |
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| | An unlocked phone can “unlock” big monthly savings. Here’s the simple way to tell if your phone is unlocked. Read more. |
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| | From COVID-19 to historic inflation to high interest rates, it’s been a tumultuous few years. It’s a great time to get back to financial basics and review Clark’s step-by-step guide to saving and investing. Read more. |
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| | Going, Clark’s favorite site to find airline deals, will no longer offer international flights as part of its free membership tier starting at the end of this month. Read more. |
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| | A man is about to retire and wants to know whether to take a one-time payment or a monthly pension. Here’s what Clark says – and whether the man should pay for a financial advisor. Read more. |
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💊 Competition Is Improving the Consumer Marketplace for Prescription Medicine |
Mark Cuban got a cold email a few years ago that led him to launch Cost Plus Drugs as a partner in January 2022. |
As Cuban explained on a special episode of the Clark Howard Podcast months later, the company vowed to bring transparent pricing to prescription medication. |
He also promised to try to work around PBMs (pharmacy benefit managers), which are essentially middlemen responsible for making drugs much more expensive. |
Fast forward two years later and not only has the company succeeded, but the pushback against often-expensive, confusing industry giants such as CVS and Walgreens is gaining traction. |
“I’ve got great news for you if you take prescription drugs,” Clark says. “The big pharmacies are feeling such marketplace pressure from discounters who are offering prescriptions at much lower prices that they’re starting to change how they do things.” |
CVS and Walgreens are in “midlife crisis” mode according to Clark, facing a number of problems. CVS is even changing its model to offer more transparency. |
Clark calls the new plan a blend of the Costco and Cost Plus Drugs models. |
“It’s like you’re buying lottery tickets. You have no idea when you go to fill a prescription is it gonna be $8 or $800 or a few thousand,” Clark says. |
“CVS – you’re going to pay their cost, plus a markup, plus a prescription filing fee. It’s going to be much more transparent.” |
Walgreens is also launching a digital tool to help customers find discounts and get better transparency. |
Some of the best ways to save on prescription medications outside of Cost Plus Drugs include price comparison apps such as GoodRx, shopping at Costco, getting mail-in medication and finding free prescriptions. |
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📊 Stat of the Day |
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💰️ Deal Alert: Today’s Top Deals |
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🎙️ Podcast |
 | Full Show: Retirement Catch Up and Cheaper Housing Alternatives |
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Many people are struggling to save money for retirement, especially in Gen X. But Clark always says, “it’s never too late to start saving for retirement.” He shares several strategies to help you feel financially secure in your golden years. Also, housing prices have been insane! However, there’s a cheaper alternative that’s finally starting to catch on in the United States. |
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☎️ Need Money Help? |
The Team Clark Consumer Action Center is a free helpline that can help you navigate your money questions. Call 636-492-5275. Visit clark.com/cac for more information. |
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