In a recent poll, 1 in 4 Americans admitted they have a hard time affording their prescription medications. Many more Americans skip filling their prescriptions altogether due to the constantly rising costs.
While there is no denying that medications are expensive, by following a few tips and tricks you can save money on prescriptions.
In many cases, generic medications work just as well as the brand-name. Switching to a generic drug can help you save up to 70% on your prescription costs. Talk to your doctor or pharmacist to see if going generic is a viable option.
Use Mail Order Prescriptions
Using mail order prescriptions will help you save money on your medications. Many insurance plans offer lower co-pays for mail-order prescriptions and online pharmacies tend to have lower prices than a brick-and-mortar pharmacy.
Change Your Insurance
If you’ve been carrying the same insurance for a few years, have had a recent change in medications or did not consider all of your options when you originally chose your plan, it may be time to look for better rates. Your employer should have an insurance comparison tool you can use to make sure the plan you choose is the best one for you.
Use Costco Pharmacy
Did you know you can use the Costco pharmacy without being a Costco member? This is great for those who are interested in saving money on prescriptions because Costco is one of the most affordable pharmacies you can use.
Check For Rebates
A great tip on how to save on prescriptions is to check the manufacturer’s website of your brand name medications for rebates. Typically, the manufacturer will offer cash rebates or payment assistance to promote their product. This promotion often results in low-cost and sometimes, free medications.
An unusual way to save money on prescription medicines is to pay in cash instead of using your insurance. Although it’s not widely known, it’s not unusual for the cash price of a medication to be lower than your copay. When purchasing your medications, ask the cash price and the insurance price to make sure you are getting the best deal.
Talk To Your Doctor
One of the best ways to save money on drugs is to talk to your doctor and let them know about your situation. Your doctor can help in many ways, such as switching you to a generic brand, changing your dosage or the number of pills you take, or helping you find a more affordable medication.
Your doctor has a vested interest in making sure you are taking your medications so they are likely a great source of help in this situation.
Save money on prescription drugs by comparison shopping on insurance apps and websites. Your insurance provider’s website or app may have a built-in comparison tool but you can also check out Single Care and RxSaver.
There Are Many Ways To Save Money On Prescriptions
By implementing some, or all, of these tips, you can save money on prescriptions and put some of that money back into your bank account.
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