For so many of us medication costs can take a huge bite out of monthly income. Take a look at these 6 Smart Ways to Save Money on Medicine.
1. Comparison Shop.
Don’t have prescription drug coverage? Have coverage that comes with huge deductibles? Or insurance leaving you with a huge bill on certain medicines?
Definitely time to comparison shop. Use a handy website/app such as Good Rx or RxSaver by RetailMeNot. Simply enter the name of the prescription in the search bar. Then, the site will bring up prices for medications at a variety of pharmacies in your area.
With a quick search, you can see where you will score the lowest prices. If you have prescription insurance, you can compare the price going with a coupon to what the pharmacy says you will pay when filing under insurance.
True story from my own experience. A couple of years ago, my physician prescribed a medication to treat a foot-related condition I was experiencing. When I came to pick up the prescription at the pharmacy, my insurance showed that I owed out of pocket $400 plus for the medicine. I was shocked, frustrated, and on the verge of tears because this was a medication that I needed.
Seeing my distress, the pharmacy tech suggested that I look up the medication on GoodRx. Low and behold, using a coupon from GoodRX, I was able purchase the prescription for under $100. I thanked this pharmacy angel and vowed to let as many people as I could know about these online savings tools.
2. Go Generic To Save Money on Medicine.
Generic equivalents are available for many prescription medications. A growing number of insurance companies will only cover the generics where offered. According to the Federal Drug Administration (FDA), generics must have the same quality, safety, and strength as their brand name counterparts in the United States.
Check with your doctor about using generics vs. brand name.
3. Explore Multi-Month Refills For Medications That You Take Regularly.
If you take a medicine on a regular basis, it is worth checking to see if you can save money by purchasing a multi-month supply. For example, some insurance companies will offer you a discount for letting a mail-order pharmacy fill your prescription for three or six months at a time.
4. Talk to Your Doc About Possibility of Taking Over The Counter Medication.
Most important thing here. TALK TO YOUR DOCTOR FIRST. Some categories of meds such as those for treatment of seasonal allergies have over the counter options available where they used to be prescription only. Only your doctor can tell you though, based on your individual condition, whether these over the counter versions are appropriate for you.
5. Ask About Samples
Many doctor’s offices keep some samples of their more frequently prescribed medicines on hand. If you ask, they may send you home with some samples, especially for medicines that you are taking for the first time.
6. Check Into Medication Assistance Programs
These programs run by nonprofits and drug manufacturers may be able to provide with assistance in obtaining medications for free or low-cost. Your insurance status, income, household size, etc… are taken into consideration. To explore available patient assistance programs, take a look at NeedyMeds and RxAssist.
I hope that you are able to use some or all of these six ways to save money on medicine, reducing your prescription costs.
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