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Inflation has recently been a hot topic of discussion among consumers and politicians alike. The cost of goods in one sector has been a longstanding focal point of public and private problem-solvers: prescription medication.

While the price of all goods and services have increased in price by 21 percent since 2014, prescription drugs have increased by 35 percent, based on data from the Bureau of Labor Statistics. Unlike gourmet coffee and cable packages, prescription drugs are a necessity for consumers. They empower us to improve or maintain the quality of our lives, and in many cases, allow us to live longer. 

The cost of prescription drugs is a major headache by itself. Medical debt is now the largest source of debt in collections in the United States, according to a study published in the July 2021 edition of the Journal of the American Medical Association. With this in mind, Here are five retailers helping to reduce the cost of prescription drugs:
 

1. GoodRx Holdings, Inc. (GDRX)

GoodRx is a clearinghouse for retail pharmacy coupons, including major chains like Albertsons, CVS, Costco, Kroger, RiteAid, Walmart and Walgreens. Recently GoodRx featured an Albertsons coupon for the generic prescription ED pill, Pfizer's (PFE) Sildenafil at $7.80 for 30 tablets ― a 95 percent savings off the listed average retail price of $216.77. The coupons are specific to one drug at one retailer, among whom prices vary greatly.

Most of the site's discounts are free for all. With GoodRx Gold ($9.99/month per person or $19.99/month per family), members receive free delivery on more than 950 prescriptions. GoodRx Care (formerly HeyDoctor) offers the ability to chat online with a licensed pharmacist to obtain prescriptions for a variety of conditions in minutes. Most of these real-time appointments are $19 with a GoodRx Gold membership, or $49 without one.

2. Blink Health

Like GoodRx, Blink Health aggregates prescription drug listings from a variety of sources to give consumers the power to find the best price with the utmost convenience. Their online checkout process is simple, whether ordering through Blink’s desktop site or its smartphone app. For customers who prefer to order their drugs over the phone, there’s a free hotline too. 

GoodRx will deliver your drugs for free, or send you proof of purchase for pickup at the local pharmacy of your choice. Unlike GoodRx, Blink Health does not have a fee-based membership tier. It’s all free. As with any of these retailers, you’ll want to be familiar with the generic name of the drug to maximize savings. Tamsulosin (the generic name of the prescription prostate pill Flomax), made by GlaxoSmithKline (GSK) retails for $11.15 with Blink Health ― at least 50 percent off the price at most brick-and-mortar retailers.

3. Cost Plus (CPWM)

Cost Plus founder and TalkMarkets contributor, Mark Cuban bills his website as a “vertically integrated manufacturing company that will start with generic drugs” ― not unlike an Amazon.com (AMZN) for pharmaceuticals. You’ll need a doctor’s prescription to purchase any drugs you find on the site, but the savings are huge. The leukemia drug Gleevec (generic name: imatinib mesylate) made by Novartis (NVS) retails for $17.10 for a 30-count bottle; Cost Plus claims the same vial costs $2,502.60 elsewhere.

The name of the website derives from its transparent pricing pledge: the cost to manufacture the drug plus 15 percent, plus shipping and handling. The simple math is displayed on each product page prior to checkout.
 

4. Walmart (WMT)

The same Walmart+ membership that unlocks free one- or two-day shipping online, and free grocery delivery, also unlocks deep discounts to its prescription pharmacy. The Walmart+ digital savings card on your smartphone acts as a store-wide coupon when you check out. Boasting more than 4,000 participating pharmacies across the U.S., it’s a convenient perk.

True to the nature of the giant retail chain, WalMart’s prescription drug service also comes with the convenience of an all-in-one health store. WalMart’s empire now includes a health insurance marketplace, a specialty drug pharmacy, a pet pharmacy and, in four states, licensed care clinics and health centers.
 

5. Costco (COST)

Like Walmart, Costco’s physical warehouses offer an all-in-one pharmacy experience: discounted dental insurance, pet medications and supplies, optometry services, language translation services, a hearing aid center, well-priced wheelchairs, free health screenings, gym memberships, and travel health consultation services (in certain states). For some, that might offset the slightly higher drug costs compared to the online-only retailers.

The biggest perk of transferring your prescriptions to Costco is hidden in plain sight: The ability to walk around a giant enclosed space and select from a range of healthy foods combines our universal needs for diet and exercise. In that regard, Costco stacks up well compared to its brick-and-mortar competitors, routinely offering savings of 30 percent or more on prescription drugs. The diabetes pill Metformin - generic for Glucophage by Bristol-Myers Squibb (BMY) or Riomet by Sun Pharma (SMPQY) retails for $9.14 for 180 500 mg tablets, compared to $14.79 at Vons and Albertsons.

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