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Already a household name in almost everything from books to electronics to household items, Amazon is now a major health care player with its new digital pharmacy that offers free home delivery and other perks to some customers with Medicare Part D, Medicare Advantage plans and most major commercial health insurance plans.
Amazon Prime members are automatically enrolled in Amazon's new PrimeRx prescription drug benefit and can get a 40 percent to 80 percent discount off the cash price of generic and brand-name drugs. This discount applies if consumers pay out of pocket online without using their insurance or with a savings card at one of 50,000 U.S. pharmacies including Costco, CVS, Walgreens and Walmart.
Such savings sound big … but will they significantly reduce prescription drug costs for older Americans? Here's what we found: