Mark Cuban Cost Plus Drug Company partners with Sidecar Health
Mark Cuban Cost Plus Drug Company is partnering with Sidecar Health, an insurance company, to help bring high-quality, lower-cost prescription drugs to Sidecar Health members.
Both Sidecar Health and Cost Plus Drugs were founded to address the issue of rising healthcare costs, which are often driven by lack of transparency and inefficient middlemen that inflate the overall cost of healthcare services, the companies said. Together, Sidecar Health and Cost Plus Drugs are fostering a healthcare landscape that is transparent, consumer-friendly and genuinely cost-effective, the company said.
According to a September 2021 Gallup poll, 18 million Americans were recently unable to pay for at least one prescription medication for their household due to ever-rising costs, and 1 in 10 Americans have skipped doses to save money.
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The Sidecar Health model allows members to know exactly what their plan covers, including the cost of prescriptions, and when their healthcare services cost less than their Benefit Amount, they keep the difference. On average, group plan members keep $54 in savings per month on their prescriptions.
Cost Plus Drugs provides transparent drug pricing with minimal markups and fees. Their online pharmacy charges consumers only 15% more than it pays to buy a drug from the manufacturer, along with a $5 per-prescription dispensing fee and a $5 shipping fee. In addition, Sidecar Health members also may receive Cost Plus Drugs pricing at participating retail pharmacies, via the Team Cuban Card.
“We are thrilled to collaborate with Sidecar Health in our mission to make prescription drugs more affordable for consumers,” said Alex Oshmyansky, CEO of Mark Cuban Cost Plus Drug Company. “At Cost Plus Drugs, our commitment to transparent drug pricing has always been unwavering, and with Sidecar Health we are dedicated to providing affordable and accessible solutions for all.”
With Sidecar Health, there are no restrictive formularies and its members can choose to fill their medications at any U.S.-based pharmacy.
When Sidecar Health members choose to fill their drugs with Cost Plus Drugs, members may receive more money back than at a traditional pharmacy. Consider, for example, a Sidecar Health member in Columbus, Ohio, taking the generic form of Lipitor (Atorvastatin – 20mg, 90 days) to manage high cholesterol, the company noted.
While their plan pays $24 for the medication, they can pocket $16.30 savings by filling their prescription at Cost Plus Drugs, where the cost is only $7.70. The same is true for some less commonly used medications. Imatinib, a chemotherapy drug used to treat Leukemia, costs $33 on average in Cincinnati and some pharmacies even charge up to $2,500 for 30 tablets at 100 mg strength, but Cost Plus Drugs sells it for $13.40. Sidecar Health members who take this drug and purchase it from Cost Plus Drugs could keep a difference of $19 or more, the company said.
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“Far too many Americans can't access the health care they need due to high costs,” said Meghann Seidner, vice president of marketing at Sidecar Health. “Cost Plus Drugs and Sidecar Health are working together to change that.”