GOODRX? NOT SO GOOD!!!

An announcement from the Federal Trade Commission (link here) states that GoodRx has been fined $1.5 million dollars for sharing extremely confidential and personally identifiable consumer information with Facebook, Google and other companies, for use in advertising.

Many seniors who I work with use GoodRx to shop for the best price on prescriptions, and I have used GoodRx for the same purpose. We live in times of heightened concerns about confidentiality of personal medical information and scrutiny of big tech companies, so it really is shocking to me that GoodRx would do something so wrong. Yes, GoodRx will be required to stop this practice, but I think many seniors, myself included, will be hesitant use this service again.

As alternatives to GoodRx, I am reviewing Amazon’s RxPass and also the Cost Plus Drug Company, developed by Mark Cuban. (See link to article here.) I will report back as I get more information about these two companies.

Also, as I covered in an earlier newsletter, elements of the Inflation Reduction Act of 2022 will help Medicare recipients over time with drug costs:

• lower prescription drug prices in Medicare through price negotiation with manufacturers,

• a yearly cap ($2,000 in 2025) on out-of-pocket prescription drug costs in Medicare

If you have questions or concerns about how these issues affect your coverage, don't hesitate to call me at 978-447-3737.

Yours in good health,

Jeff

Jeffrey W. Werner
OTL Benefits