5 Insider Ways to Save Money on Medications

Deals The List
By: Jimmy Rhoades Posted: 8:45 PM, Nov 1, 2017

Americans spend over $425 billion on prescriptions drugs each year. That's more per capita than any other country in the world and there's no indication that number is going to go down. Jimmy Rhodes is talking with Consumer Reports' Lisa Gill to get five insider tips to save money on medications.

1.  Ask if There's a Cheaper Price

Lisa send out secret shoppers and they found that if you ask that question it can trigger a pharmacist to make sure that that drug isn't on a discounted, generic drug list. The pharmacist might have a discount program or coupon offered by the pharmaceutical manufacturer. This isn't a grocery store coupon you can clip out of the weekly flier. They know about it. You don't. So you've got to ask.

2.  Ask for the Cash Price

They may offer you a low cash price that is lower than your insurance price.

3.  Shop Around

Lisa's secret shoppers found that even within the same zip code there can be incredible price variation for the same drug. Always call your local mom and pop pharmacies. They may be the most expensive, but they also may be the cheapest. You never know.

4.  Go Online

Go take a look at GoodRX or BlinkHealth. GoodRX finds prices and discount coupons on every prescription. Both of those allow you to compare prices across the board in your area and pick the pharmacy and lowest price that you want to pay.

5.  Buyers Club

The issue here is that importing drugs into the United States for personal use is… there's a word for it. "Illegal." That's the word. Illegal. The drug supply chain for retail stores in the United States is extremely strong. It does not get adulterated drugs, or drugs from overseas. You know what you're getting and you know where it's coming from.

Where do you prefer to get your medication from? Join the conversation!