Prescription drugs are expensive. And they seem to be getting more expensive. Worst of all, the older we get, the more prescriptions we seem to need. Sighs. So, it’s good to be on the lookout for ways to save on prescriptions meds.
Six Ways to Save on Prescription Drugs
1. Buy Generic Drugs
Buying generic versions of prescription drugs is one of the easiest ways to save money on meds.
Generics cost a fraction of the price of their brand name equivalents and are required by the FDA to have the same quality, strength and purity.
With some pharmacies offering the $4 for 30-day supplies or $10 for 90-day supplies options, it’s sometimes cheaper to buy generics without going through insurance! Make sure to always ask your pharmacist which option is cheaper.
Tip: Bookmark or print a list of the $4 and $10 drugs. Then have it with you at every doctor’s appointment.
2. Try the Costco Pharmacy
You don’t have to have a Costco membership to use their pharmacy.
And, why Costco? Because they limit how much they markup each item in the store. This applies to prescription drugs too.
Anyone can use their website to check drug pricing: Click here for the Costco Pharmacy drug directory.
3. Use a Drug Price Finder App
I’ve been using the Goodrx app. You simply type in the drug name and the app will search its price at nearby pharmacies.
By the way, if you have a Costco nearby, they will likely show up in your results too, saving you the step above.
One of my dogs recently needed to go an anti-anxiety medicine normally sold to humans. This app saved me $66 on a 3-month supply. It alerted me that a month’s supply of this drug was available for $4 at my local Walmart, but $26 at my usual pharmacy.
4. Work with Your Doctor to Appeal Drug Coverage if Insurance Denied it
I recently had to do an appeal to my insurance provider after they rejected coverage on a drug that I needed.
It was a surprisingly simple process. I told my doctor what happened and she filled out an appeal form to send to my insurer. At first, they rejected the appeal, but, after my doctor contacted them a second time, they approved it.
5. Many Drug Companies Offer Discounts for Low Income Patients
Some drug companies have discounts for lower income patients.
The income limits can vary by family size. Make sure to check on the drug company’s website or ask your doctor for more information.
6. Register with the Drug Company’s Loyalty Program
Some drug companies have loyalty programs that could help you save money.
I have very expensive prescription eye drops I need on a daily basis. Checking on the company website, I discovered that they had a loyalty program. By showing their registration card to my pharmacist, I could save 50% off the cost if uninsured or $20 off my portion of the cost, if I used insurance.