Smart Ways to Save on Prescription Medications
If you or someone you know takes prescription medications, you probably know how expensive they can be. Here are some easy and smart ways to save money on your prescriptions. Always talk with your doctor and pharmacist to see which of these options may work best for you.
Ask Your Doctor for Generic Options.
When your doctor prescribes medication, ask if there’s a generic version. Generic medications are usually cheaper than brand name products. Generic drugs have the same active ingredients as their brand name counterparts and work just as effectively.
Compare Local Drug Prices and Use Coupons.
Many websites offer coupons ti help save money on prescription medications. Before you head to the pharmacy to fill a prescription, do a quick online search to check for money-saving coupons and rebates. You may choose to use the discount instead of your health insurance or Medicare Part D or Advantage plan if the cost is lower than your copay.
Not all pharmacies charge the same price for medications if you choose to pay out of pocket. Call around to compare drug prices. You might find that one pharmacy offers a less expensive option than another.
From coupons to price comparisons, there are several websites and mobile apps that can help you find the best price for a prescription drug.
Use Prescription Discount Cards to Save Money on Prescriptions.
Many websites and organizations offer prescription discount cards for free. These cards can help you save money at the pharmacy. Just present the card when you pick up your medicine. You might be surprised by how much you save. Discount cards can’t be combined with prescription coverage.
Check for Patient Assistance Programs.
Some pharmaceutical companies have programs to help people who can’t afford their medications. These programs might provide the medicine for free or at a reduced cost. Visit RxAssist.org, an online database of drug companies offering patient assistant programs. Ask your doctor or check the drug manufacturer's website for information.
Buy in Bulk or Larger Quantities.
Sometimes, buying a larger supply of your medication can save you money in the long run. Buying a 90-day supply instead of a 30-day supply may be more cost-effective. This means you’d have one copay every three months instead of one every month. Just make sure you’ll use the medicine before it expires.
Consider Mail-Order Pharmacies.
Some insurance plans offer mail-order pharmacies that can send your medications right to your home. Legitimate online pharmacies have passed a review by the National Association of Boards of Pharmacy (NABP). Mail order pharmacies may offer less expensive prescriptions. Buyer beware: Check the NABP website to ensure your internet pharmacy is verified and not a rogue site.
Talk to Your Insurance Provider About Exceptions and Medicare Part D.
Call your insurance company and ask about your benefits and ways to save on your medications.
Ask for an exception from your insurance company. This is when your insurer makes a formulary exception and provides coverage for your drug. The formulary is a list of prescription drugs covered by a prescription drug plan. Your doctor will most likely need to submit paperwork showing that your drug is medically necessary and that any alternatives would have an adverse effect.
If you are 65 years or older and on Medicare Part D learn how you get discounts. Medicare Part D is an optional program to help Medicare beneficiaries pay for prescription drugs.
Review Your Medications Regularly.
Regularly ask your doctor what medications you still need to take and which ones you may be able to discontinue. Your pharmacist can help you save money by doing a medication therapy review. This review will look at your prescriptions, nutrition supplements and over-the-counter medicines. Not only can this process help save money, but the pharmacist also looks to see if the dosing is correct, that there isn’t any duplication, if any discontinued drug therapy is occurring, and that you aren’t taking anything that could cause adverse events.
Join Your Pharmacy’s Prescription Club.
Check if pharmacies near you offer prescription clubs. These money-saving programs can lower drug and supply prices. Compare different prescription clubs to get the best prices when checking out.
Ask About Pill-Splitting.
Do not split pills or take a smaller dosage without talking with your doctor. Pill splitting in this case means that your doctor prescribes a higher dose of a medicine at the same price of the lower dose. Then using a pill splitter, you can split the drug in half or fourths to save money.
Get It for Free.
Some pharmacies will fill basic antibiotic prescriptions like amoxicillin for free. They may give prenatal vitamins, metformin, antibiotics, children’s vitamins, and other common medications and supplements for free if you have a valid prescription. You never know until you ask.
12. See if You Qualify for Additional Prescription Assistance Through Medicaid.
Medicaid can often be used in addition to Primary Prescription Insurance or Medicare Part D. Coverage under Medicaid is often income based but could assist if your copays may be unaffordable.
Note: The content of this blog is for informational purposes only. It is not intended for use as diagnosis or treatment of a health problem or as a substitute for the professional consultation of a physician or qualified health care provider. If you have specific questions or concerns regarding a health or medical condition, contact your physician or a licensed health care professional.
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