Now more than ever, people in the United States and elsewhere are doing everything they can to try to save money, and reduce the prices of things where possible. We’ve been living a little close to the bone during this pandemic, and the economies in most places haven’t been stellar since the turn-of-the-century. There are 1 million factors behind these things, but you can’t argue with the final result.
Here’s the rub, though. There are certain things that you can’t live without, such as certain medications, and in that case, it would seem that pharmaceutical companies have your proverbial tenders in a vice. There are just as many factors behind why these prices are so high, and again, were not really going to get into some of those. The one that we’re comfortable citing on a regular basis is a simple fact that most medication does have to be imported, and the necessary control for safety to do so does raise prices unavoidably.
But it’s no small surprise that lower drug prices in Canada would be a concept that intrigues people. You hear about it all the time, people going up to Canada to get cheaper drugs. It sounds like something that should be flat-out illegal, and exactly why they’re cheaper up there with their face with the same import issues that we are, is a bit mystifying.
Taxes Versus Price Points
The big difference between Canada and the United States isn’t actually whether or not the drugs are cheaper. Yes, at the end of the day, they are still somewhat cheaper for Canadian citizens due to various political things we won’t discuss here. However, that schism isn’t as wide as you would expect. In truth, Canadians are presented with a high price on their medicine to, but it’s kind of disguised for them. Rather than a high upfront price point, as is the case in the United States, they’re faced with higher taxes to offset the import costs and to placate pharmaceutical companies.
So, at the end of the day, it’s not that much cheaper for a Canadian citizen. They can be, however, cheaper for you. You see, you’re not part of their tax system as an American. So, while that low price point will elevate slightly, import taxes and all that, you’ll still be paying a heck of a lot less than you do in the United States.
What are the legalities of this?
You’d be surprised to learn that the legality of this isn’t even dubious. Provided your ordering something that’s approved by the FDA, and isn’t some sort of extremely wacky controlled substance, you are well within your rights due to trade agreements and antitrust laws to purchase your medications from anyone certified provide them. You can buy them from Canada, Mexico, anyone with whom we have a trade agreement.
Obviously, if you’re working with some sort of health insurance agency, they may combat this and add complications, so this solution is mostly effective for people who are having to pay out-of-pocket for their medications in the first place. But, there’s nothing remotely illegal about it all!
Can I get lower drug prices in Canada to reduce even further?
Let me leave you with one closing thought. If you aim for generic alternatives to brand-name medication, you can have a far cheaper price yet. These generics are identical in every way except for cosmetics and naming to their brand-name counterparts, but much cheaper.
Hopefully, this is demystified lower drug prices in Canada, and emboldened you to actually take a chance with it. Honestly are not really taking much of a chance, it only seems like it until you’ve tried it.