LAS VEGAS (KTNV) — Prescription medications are essential for many Americans, but the rising cost of those drugs is putting a growing strain on household budgets.
In Nevada, many residents say they’re spending thousands of dollars out of pocket each year on prescriptions. For some, the cost is so high that they’re forced to delay, or skip, medications they need.
WATCH | Shakeria Hawkins shows us how one local man's story is helping others find more affordable options:
Las Vegas business owner Harry Mex says his own family experienced those struggles firsthand.
“I started this a year and a half ago. It was mainly because of my parents,” Mex said.
The 21-year-old founded his insurance marketplace company, Stratford Oak, after watching his parents struggle to afford medication.
“My mom, thank God she’s doing very fine right now, she is a Type 2 diabetic, so she does need her insulin, and my father has sleep apnea,” Mex said.
Mex says one of the biggest challenges families face isn’t just the price of medication, but navigating the complicated system of insurance plans and assistance programs.
“One of the main obstacles that we came across is finding where we can find different prescriptions, affordability, insurance, and actually being able to sign up for them, because a lot of the websites are confusing,” he said.
That confusion, combined with rising drug prices, has left many people searching for help. Mex says he now receives hundreds of calls every day from people looking for ways to lower their prescription costs.
For his family, the issue was deeply personal.
“At the time, my dad wasn’t in the country, so my mom had three children, and sometimes she had to go without picking up her prescription just to feed us,” Mex said.
Now, he says he’s trying to connect people with lower-cost medication options. His company offers a prescription assistance program that starts at about $55 a month, depending on income and prescription needs. Mex says it can help reduce the cost of certain medications, including insulin.
Still, he says the most important step consumers can take is to keep comparing prices and exploring different options.
“Whether it’s your insurance not providing the benefits you need or medication being too expensive, keep looking around,” he said.
Residents who need help paying for prescriptions can find additional resources on Stratford Oak here.
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