7 Ways to Save Money on Prescription Drugs

7 Ways to Save Money on Prescription Drugs

Find out 7 Ways to Save Money on Prescription Drugs

1. Shop Around for  Prescription Drugs – Compare prices at pharmacies in your supermarket, retail stores, online, and via mail order. You can often find discounts for ordering a 30- or 90-day supply of medication. Take advantage of prescription discount programs. AARP, for example, has a program that provides discounts on FDA-approved medications that are not covered by Medicare Part D and are filled at a Walgreens retail and mail service pharmacy.

2. Ask For Samples of Prescription Drugs – Before you fork over the cost of a month’s supply of a drug, you want to know if you can tolerate it. If it’s a brand-name drug, your doctor will likely have samples. Also, manufacturers will often offer a free 30-day trial or a coupon for a discount on the purchase of the drug. Be aware, though, that many of the coupons are for more expensive medications.

3. Confide In Your Doctor about you’re Prescription Drugs – Although it can be tough to admit cost is an issue for you, your physician would probably rather you did. One in five new prescriptions that are written are never filled, which drives doctors crazy. So if there’s even a small chance you may skip the script because of money trouble, it’s better to say so and work on solutions together.

4. Check Your Formulary for Prescription Drugs – Depending on your insurer’s formulary (a list of medications that are covered), the overall cost for two similar drugs may be wildly different. To avoid paying for the pricier drug, you need options. When your doctor prescribes a new drug, ask him or her to list the top three choices. Check with your insurer to find out the cost and coverage on each, and any formulary restrictions that might apply. Choose the best option and let your doctor know the drug you prefer.

5. Inquire About Generic Prescription Drugs – Ask your doctor if there’s a generic medication that can be provided instead of a brand-name product. The cost of a generic drug is 80% to 85% lower, on average, than brand-name products, according to the U.S. Food and Drug Administration.

6. Divide And Conquer your Prescription Drugs – Not all medicines double in price with double doses. One of the things that some people have done to save money is they ask their doctor for a double-strength prescription and then they take half a pill. Keep in mind that the pill has to be designed to be divided in to two pieces, which means it’s scored down the middle. If it isn’t one that is obviously splittable, check with your pharmacist first.

7. Drugstore Discount Prescription Drug Programs – No insurance for prescriptions or not enough coverage? Many big box retailers offer Prescription Savings Clubs. Members get special discounts off the cash price of thousands of brand-name and generic medications. It’s important to note: this is not medical insurance, but it does help you save at the pharmacy.

The information contained in for informational purposes only and not a guarantee of benefits. You are strongly encouraged to contact your health care provider to verify the status of prescription drug coverage.