CoverRight, the leading digital health platform revolutionizing the Medicare plan selection process, today announced its collaboration with Mark Cuban Cost Plus Drug Company. CoverRight is the first digital Medicare selection platform to integrate with Cost Plus Drugs, demonstrating its continued commitment to helping consumers get the most out of their healthcare, including lowering the cost of prescription medications.
This timing comes at the beginning of the Medicare Annual Enrollment Period (‘AEP’) which started on October 15.
“Prescription drug costs can be a large component of total annual out-of-pocket expenses for a Medicare beneficiary. Medication prices can vary widely by plan, geography, and even within the same zip code. With continued healthcare cost inflation in the U.S., it’s becoming ever more important to help consumers save” explained Richard Chan, CoverRight’s Founder & CEO. “This relationship comes at the perfect time as AEP just started so consumers can evaluate their 2023 drug coverage and find the best solution that lowers their costs.” Chan continued.
CoverRight has made its Medicare drug comparison tool available to its customers. With a few pieces of information, consumers can easily check to find the best Medicare drug plan for them through CoverRight’s platform. The technology platform will also show consumers alternate ways they can save on their medication. As part of this new integration with Mark Cuban Cost Plus Drug Company, the cost of available medications available at Cost Plus Drugs will be listed directly on CoverRight’s platform making it easy for consumers to compare the cost of a prescription between a Medicare plan and directly from Cost Plus Drugs.
“This can mean that someone might be able to find a less expensive way to fill their prescriptions and/or enroll in a less expensive drug plan. Our customers can simply order their medication through Cost Plus Drugs if they find that they can save” explained Chan. “Drug program adherence is a critical component of maintaining health and we want our customers to access all available options to help them achieve this” he added. CoverRight’s dedicated team of Medicare experts are also available to help customers through the analysis.
Alex Oshmyansky, Md, PhD. – CEO of Cost Plus Drugs added “we are excited to work with CoverRight to bring lower prescription drug prices to consumers who are on Medicare. Cost Plus Drugs and CoverRight share a common mission of providing consumers the lowest possible price for their prescription medication so they can maximize their health options in retirement. With the CoverRight integration, Medicare beneficiaries can access additional transparency not previously available and be confident they are getting a fair price for their medications.”
CoverRight.com is a digital-first health platform focused on retirees. The company aims is to make Medicare more transparent and accessible for America’s 60 million Medicare beneficiaries. CoverRight simplifies a traditionally confusing and complex decision by combining technology with a digital concierge experience to deliver consumers a simple, delightful, and comprehensive Medicare plan selection and enrollment experience. The company’s vision is to become the go-to retirement concierge platform to help retirees manage and navigate health and finance in retirement.
About Mark Cuban Cost Plus Drug Company
The Mark Cuban Cost Plus Drug Company (Cost Plus Drugs) aims to fundamentally change the way the pharmaceutical industry operates. As a public-benefit corporation, its social mission of improving public health is just as important as the bottom line. Cost Plus Drugs transparently charges a standard markup on every drug it sells. The costplusdrugs.com online pharmacy launched in January 2022 now carries nearly 1,000 prescription products, delivered by mail to thousands of happy customers every day. Cost Plus Drugs is working with health plans, managed-care organizations, pharmacy benefits managers (PBMs) and self-insured employers to bring these same savings to employer-sponsored benefit plans nationwide.