I am an unapologetic capitalist. I own several stocks in the healthcare sector. However, to put it mildly, I think the U.S. for-profit healthcare system leaves a lot to be desired.

For example, every day people are denied care by an insurance company that was deemed necessary by a doctor. It has happened to me. My doctor had to appeal the decision multiple times before they allowed it. This happens because we have insurance companies positioned between us and our healthcare, and they have financial incentives to deny you healthcare.

Thus, I try to hack this system as much as I can. This column is often dedicated to investments. But today I want to show you how to save money in our healthcare system. After all, if you spend all your money on healthcare, you won’t have anything left to invest.

How to Slash Your Medication Costs

One area with enormous potential for saving money is prescription drugs. Earlier this month my wife had to pay $90 for medication at our local pharmacy because deductibles reset with the new year. I knew that this was far above the cost. I decided to find a better price elsewhere.

A few years ago, I happened upon GoodRx. You can go to the site and generate coupons for massive discounts on prescription drugs. It’s simple. Just enter the name and dose of the medication, select which pharmacy you want to use, and it generates a coupon that looks something like this.

You give this information to the pharmacy, and in many cases, the cash price will be less than your insurance copay. You can get additional savings for signing up, but you don’t have to enter any personal information at all to generate coupons like the one shown above.

But recently I discovered a site with even greater savings.

Former Dallas Mavericks owner Mark Cuban is a billionaire who has tried to use his wealth to help people. One of his ventures is a mail-order pharmacy that sells drugs at cost plus 15% to cover the cost of running the company. The company is called Cost Plus Drugs, and they have most of the commonly prescribed drugs in stock.

I checked my wife’s medication, and the same pills — same dosage and amount that a major chain charged us $90 for — were $9.20. That tells you how much the pharmacy marked them up. I checked other prescription drugs, and many were 90% cheaper there.

In the past, I have given readers hacks on saving money on gasoline costs. But the savings you can get on prescription drugs make the gasoline savings look trivial. You may switch to a discount pharmacy like we did once you figure out how much you are being overcharged for drugs.

If you are spending too much on prescriptions, check out GoodRx or Mark Cuban’s venture. I don’t think you will find cheaper prescription drugs anywhere. Now, take your savings, and invest it wisely.

Editor’s Note: After strong gains in 2023, the stock market continues its winning ways. Looking for an exceptional growth opportunity? Consider the tech giant Apple (NSDQ: AAPL). But I’m not suggesting you actually buy Apple shares.

On Friday, February 2, Apple is scheduled to release its new Vision Pro device, a headset that promises to shake up the virtual/augmented reality (VR/AR) market.

However, the tech analysts at Investing Daily have determined that this new Apple gadget is dependent on mission-critical software made by a tiny, under-the-radar tech innovator. Without the software provided by this small company, Apple’s so-called genius device would be a catastrophic failure.

Apple’s dependence on this software opens a huge investment opportunity. You won’t see this small-cap stock mentioned on CNBC, but it’s poised to explode on the upside.

I urge you to make your move before February 2. That’s the day Apple rolls out the new Vision Pro device, and if my colleagues are right, that’s when a profit surge could start for their small software partner. Click here to learn more.