6 Simple Ways to Reduce Your Prescription Drug Costs

6 Simple Ways to Reduce Your Prescription Drug Costs

With prescription prices on the rise and no end in sight, many who rely on prescription drugs often find their bills as high as a car payment, or even worse yet – a mortgage payment.
Whether you have to pay for prescription drug costs weekly, monthly or every so often, there are a few ways you can reduce your costs by more than 40%.

  1. Consider Generics

If you’re currently using a brand-name prescription drug, ask your doctor or pharmacist if there’s a readily available generic available.  The generics will have the same active ingredient but will be a fraction of the cost.  The FDA claims a generic drug can be 85% less than its brand name option.

  1.  Assistance Programs

Many brand name pharmaceutical companies offer assistance programs for those who qualify.  Generally, as long as you meet the company’s minimum income requirements and don’t have any health insurance policy, you should be able to receive some sort of discount.  If you want to know which drugs have this sort of program, refer to this Medicare.gov directory.

  1.  Split the Pills

Ask your physician if you’re able to split your pills to essentially give you a double dosage.  As long as the dosage is effective with your condition, this shouldn’t be a problem.  If you’re given the green light, a simple pill splitter can be purchased for less than $10 and will instantly double your prescription. Remember this should never be done without first consulting your doctor.

  1.  Check with your Insurance

If you’re insured, check with your insurance company to see which pharmacy they recommend.  Most of the time, this information will be on its website via the directory search.  Always make sure you’re using a pharmacy that’s listed on the directory page to make sure you’re getting the most in terms of savings.  To take it one step further, call up at least three to five pharmacy chains in your area and ask for an estimate.  Most of the time, the pharmacy will be able to give you a quote over the phone.
> Shop Online for Prescription Drug Deals Here

  1.  Consider Mail Order Options

When most people think about filling a prescription, they think of the local pharmacy up the street.  However,  what most people don’t realize is that there are many reputable mail order pharmacy online that can be a fraction of what you’d pay up the road.  As long as you don’t need the drug immediately,  you can get the prescription on your doorstep within seven days.  When choosing a mail order pharmacy,  make sure it’s certified by the National Association of Boards of Pharmacy.  While It’s okay to purchase out of the country, the FDA advises against it.

  1.  Check for Coupons

Before getting any prescription filled, check online to see if any prescription coupons available.  When using a drug coupon with any other service and/or products, be sure to read the fine print if you’re eligible.  Even if you can’t find a coupon or any savings you don’t qualify, call up the company as a last resort to see if any options are available.
The next time you have to get a prescription filled, be sure to keep these tips in mind to save as much money as you can.  With most manufacturers offering some sort of savings, it shouldn’t be too hard to save a few dollars.
Read More: Do Research to Lower Prescription Drug Prices and Avoid Medical Errors

Guest Post: Stephanie Lynch of How Much Is It? which is a great resource for consumer-driven individuals in search of price quotes for various goods and services.