By Staff
Hats off to Wal-Mart for its announcement it would slash prices on 291 generic drugs to $4 in Tampa, Fla., with plans to expand to the rest of Florida and other states in January.
While the announcement is good news for consumers, it should be pointed out that it is also self-serving for the nation's largest retail chain as well.
Wal-Mart has been criticized recently for providing sub-standard health care for its employees.
The chain said in its announcement that the lower-cost prescriptions would be available to both customers and associates.
Regardless of whether or not Wal-Mart is doing the right thing for the wrong reasons, we are hopeful it sparks other companies to follow suit.
One of the biggest problems facing the average American family is the high cost of prescription drugs.
Wal-Mart said it plans to take the prescription plan to as many states as possible in 2007.
The $4 charge for a 30-day prescription is for both those who have insurance and do not have insurance.
Customers who have insurance will still pay $4 regardless of their current co-pay.
The plan would reduce the cost to the consumer up to 70 percent.
The fact the company has picked Florida to begin its program is logical due to the large amount of retired persons living in the state on limited incomes.
Wal-Mart insists it is not making this move to bring people into its stores and that it is working with the drug companies, not trying to force them into lowering their prices.
We know that some states will fight Wal-Mart on this program.
We would hope that most, including Michigan, would embrace it and help families control their spending.
The first Wal-Mart customers at 65 stores in the Tampa area started saving today.
This move is a good first step in the fight to control medical care spending.
We would like to see everyone get on board with this program.