How to Save Money on Prescription Drugs – 5 Easy Hacks!Top of the List
Being healthy is everyone’s top priority. But with the skyrocketing price of prescription drugs, following a doctor’s orders can put a serious squeeze on a family’s budget. So we spoke with Leigh Purvis of AARP who showed us how to save money on prescription drugs with a few helpful tips.
1. Ask for Cheaper Options
Let’s kick off our guide on how to save money on prescription drugs with asking for cheaper options. “When you’re prescribed a new drug, always ask your doctor or your pharmacist whether a less expensive alternative, like a generic, is available,” Leigh advises. You’ll hear the clickety clack of the pharmacist’s keyboard, and many times they can save you some dough!
2. Shop Around
Another tip on how to save money on prescription drugs? Make sure you compare prices at different pharmacies. In other words, shop around! “There’s a great deal of variation in what prices pharmacies are charging for generic drugs,” shares Leigh. “So sometimes it can be helpful to visit some of the websites that are out there to find the lowest price for the pharmacies that are near you.” Consumer Reports recently recommended drug price comparison sites Good R-X, Blink Health, or We R-X.
3. Discount Card
Next – if you have benefits through your employer, see if your plan includes a discount card. “The discount cards [and] discount clubs really depend on the drugs that you are taking,” informs Leigh. “A lot of times you can see some substantial savings for generic prescription drugs.” But for brand names, you may not see the same level of savings.
Don’t forget to look into coupons! “Those coupons are very highly utilized by brand name drug companies, and it really does help reduce people’s cost sharing when they go to the pharmacy,” offers Leigh. For coupons, ask your doctor or pharmacist, or check the manufacturer’s website.
5. How to Save Money on Prescription Drugs with Assistance Programs
And if you’re struggling with prescription drug costs, look into assistance programs. Take Medicare for example. “Medicare Part D’s low-income subsidy for Medicare beneficiaries can really reduce your out-of-pocket costs,” says Leigh. “Head to Medicare.gov to check income-adjusted drug plan premiums.” Also, try contacting the drug company itself. “A lot of brand-name drug manufacturers have patient assistance programs that can provide the products at a greatly reduced price, or even for free, if you can meet their eligibility criteria,” adds our expert.
If you’ve been wondering how to save money on prescription drugs, now you’ve got five ways to cut those costs.
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