Shop around for the drugs you need.

Today's tip.

I explained to one of my tennis buddies that I was paying $100 per month for my blood pressure medicine. He replied that he was paying $10. I checked with my doctor and sure enough I had my prescription changed and now I pay $10 too. I understand the doctors should be more money conscious when they prescribe a drug, but they are not, unless you ask them. Then,you should also  ask your friends to see what they pay. 

And if that is not enough, pharmacies have different charges for the same drug. In other words, check around with you friends and with your pharmacies and with your doctors to discover the most economic way for you to purchase the drug you need. Shop around the same way you shop for clothes or any other item you need. 

I have friends in California who make a semi-annual trip to Mexico to purchase drugs at 1/2 cost of the same drug in the USA. There is actually a "party bus" that you can sign up for that takes 50 people at a time to the Mexican border where you walk across the border into Mexico and purchase your drugs. 

Same of us our reluctant to discuss these personal issues with friends and many of us are also reluctant to ask the doctor for a less expensive prescription. Lose the pride and start asking, you may be surprised what you find that can help you reduce your prescription drug expense. Since I am on medicare I have changed my philosophy and I am willing share all the details of my health costs and I  have discovered that others are willing to do the same. If possible, I prefer to shave a few dollars from my health care expense so I can afford more golf and travel.

Share your prescription drug purchasing stories with me and I will share them with others anonymously. 

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Do I need a will?

Yes, you do. But most seniors, over the age of 62, do not have millions of dollars to leave to their children. Hence, there is no genuine need to spend thousands of dollars having a specialized Will drafted. You can go online and use any of the Will preparation services such as, LegalZoom or you can purchase a Will for about $50 for your state and fill the form out for your self, assuming you can still read, and most of us can still do that. It is not rocket science and much simpler than reading the tiny letters printed on your medical bottles with critical instructions. For example, I just picked up my bottle of pills for my high blood pressure and there is a yellow label that begins with "You should avoid..." and then I can not read the rest of the words. 

Anyway a Will is much simpler than your prescription instructions, the disclaimers of which often run into several pages of legalese, and there are dozens of sites that you can Google to download a Will. Remember that a Will can be written on a napkin and still work. On the other hand, if you expect there might  be significant sibling arguments about why you left what to whom, then perhaps an investment in a lawyer will help. How much should it cost? Expect to pay few hundred to a few thousand dollars for thoughtful assistance. 

There are other techniques that you can use to spread your money around easily that I will be reviewing in other blogs, so tune in. Put your email address in the subscription window, it is free, to stay in touch.

Do you have a senior tip? Send it to me and I will pass it along.