Unlocking Savings with International Mail-Order Prescriptions 🌍💊

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Can international mail-order prescriptions transform how we handle healthcare costs? Discover the untapped potential of sourcing medications from countries like Canada and Mexico as we explore an emerging trend that’s gaining momentum. Join me, Justin Futrell, your benefit advisor from True North Companies, in this eye-opening episode where we unpack the financial and legal incentives of international pharmacy options. You’ll hear how companies can dramatically slash their pharmacy expenses while offering employees a hassle-free way to save on prescriptions.

Hear the compelling case of a manufacturing firm that reduced its annual pharmacy expenses by a staggering $370,000. By shifting to international mail-order prescriptions, they not only benefited their bottom line but also empowered their employees to save money. Listen as I guide you through the steps companies can take to implement this cost-saving strategy, making it a practical solution for both employers and employees. Tune in to unlock strategies that could transform your approach to prescription drugs and healthcare savings.

Music by Alex Lambert.

Contact Justin via text 740-525-5259 or via email [e-mail]

I welcome the opportunity to hear your feedback from this episode!

Thanks again to my musically gifted friend Alex Lambert for the music. Also thanks to Kevin Asehan for the edits.

Episode Transcript

Speaker 1 (00:01):
Welcome to another Tuesday morning with Justin.
I'm Justin Futrell, benefitAdvisor at True North Companies,
and today we're going to focuson pharmacy and prescription
drugs.
What are we going to focus on?
Specifically?
International drugs.
What do we mean by that?
Well, you may have heard overthe last handful of years that a

(00:25):
lot of people are starting topurchase drugs from Mexico, from
Canada, from somewhere inEurope.
So let's talk about that.
What does that look like and isit actually happening?
Well, the answer is yes, it ishappening.
We have several clients who aremoving forward with
international mail order options.

(00:47):
So what that looks like is one.
You can't force an employee todo it right.
That just gets you into a legalnightmare.
That is not worth it.
What you can do is incentivizeyou, as an employee of your
company, to take advantage of anopportunity to save yourself

(01:13):
some money.
What is actually happening?
Yes, you can save money and,yes, your company can save money
too, so that's why you'reincentivized to get it for free.
Let me walk you through a realexample of some data we reviewed
recently with a company.
It's a manufacturing firm.
They have 706 prescriptionsthat could be mailed in from

(01:41):
Canada mailed in from Canada.
Of those 706 prescriptions.
I'm going to round.
Just in case you don't lovemath, I'm going to round down.
So it's conservative.
The total paid for those 700prescriptions was $520,000 and

(02:02):
of that employees or memberspaid $20,000.
So in total the company paid500,000 and employees paid 20
grand.
Now by shipping those drugsmail order through Canada and
directly to the doorstep ofthese employees.

(02:22):
What does it look like?
That's the question.
The answer is the cost comesdown to $130,000.
That means the company, thehealth plan, is saving $370,000

(02:42):
per year, mind you, just byshipping the exact same drugs
from Canada.