10 Essential Tips for Saving Money on Prescriptions

If you have purchased any prescription medication in the past years, you know how expensive drugs can be. Based on the United States Census Bureau, over 27.5 million people in America didn’t have insurance in 2018.

While this number has likely risen since then, most people still don’t have health insurance.

This is a substantial percentage of Americans paying out of pocket for their prescriptions. These prescriptions may include antibiotics or painkillers.

Luckily, saving money on prescriptions is possible. Below are some things you can do to save some money on prescription drugs.

1. Pay Cash

Amazingly, buying medication is cheaper when you pay in cash. Sometimes, the drugs may even be lower than your insurance company’s co-pay.

When visiting a pharmacy, ensure you ask how much it will cost you to purchase the medication out-of-pocket and use insurance. You will be surprised how much cheaper it can be to purchase medications out-of-pocket. Therefore, ensure you purchase your drugs using cash.

2. Ask for the Generic Alternative

It’s advisable to purchase the generic equivalent of your medication because they are more affordable than brand-name drugs.

Many people are skeptical about purchasing generic medication because they’re unsure of its safety and efficiency. However, the FDA requires that all generic medication manufacturers ensure their medications are as effective and safe to use as brand-name medicines.

Generic drugs have similar ingredients as brand-name medications but without an expensive price tag. If in doubt, research more about the generic medication beforehand. Compare between the two and check their active ingredients and FDA-approval status.

3. Purchase Your Medications Online

Just like other commodities, some prescriptions such as Cerumenex are more affordable when you purchase them online. An online pharmacy will have fewer costs compared to a physical one.

If you have health insurance, check if your provider partners with any mail-order and online pharmacies. This is a great way to purchase your prescriptions at an affordable price. Another great benefit of purchasing medications online is that they will deliver your prescriptions at your doorstep, eliminating the need to visit a physical pharmacy.

4. Compare Prices From Different Pharmacies

Before deciding to refill your prescriptions, shop around and compare the prices of different pharmacies. Different pharmacies have varying prices for the same medications. You just need to do your homework before refilling your prescription.

These price differences are because of where the pharmacy gets their medication. Some pharmacies purchase their drugs directly from the manufacturers, while others get theirs from middlemen. This may increase the price of the medication.

Before purchasing your medication, ensure you compare different pharmacies to see where you will get the best price.

5. Buy Directly From Your Insurer

If you have an insurance drug plan, check with your insurer if they sell medications.

Some insurers offer their clients a discounted price on medications if they buy directly from them instead of the pharmacy. This is quite common with government health insurance programs such as Medicaid and Medicare.

You can also get a discounted price on your medication if you purchase from state health insurance support programs. For instance, the prescription medication coverage of the Medicare Part D plan works with numerous insurance types. In some cases, the program may provide low-cost prescription drug options for some individuals.

6. Consider Purchasing From Large-Chain Pharmacies and Stores

Saving on prescriptions is a great way to save money. The best way to do this is to shop at large-chain companies like Costco, Target, and Walmart. These stores stock generic versions of almost all major brand-name drugs and sell them to their customers.

Before rushing to purchase your drugs, ensure you check your local store for a list of available drugs. This will help you identify the best generic drug alternative for the medication you require.

7. Ask Your Doctor if the Medication Is Still Necessary

Have you been taking your prescription medication for an extended period and you can see some improvement? If so, you can ask your doctor whether it’s still necessary to refill your prescription. Sometimes, your recent lifestyle changes may result in some health improvement.

Improvement in your health could mean that you don’t need the medication anymore. However, don’t stop taking your medication unless your doctor approves it.

Your doctor will examine your health and determine whether your changes and improvements warrant not continuing with your medication. Your doctor might also prescribe a lower dose, saving you more money.

8. Ask Your Doctor for Free Samples

If your doctor prescribes a new medication, they may offer you complimentary samples of the medication they prescribe. Instead of purchasing expensive new medication and later finding out it’s not working for you, this is a great alternative to save on prescriptions.

The samples allow you to determine whether the drug is effective or not. It also helps you determine whether your body can tolerate the drug without the need to refill an expensive prescription.

9. Use a Pharmacy Card

Using a pharmacy card will help you get cheap prescriptions. Ask your pharmacy whether they offer members’ cards or savings cards.

These cards offer patient member rewards, point programs, and other incentives that will help you save money on your regular prescriptions.

10. Ask for a Discount

Buying your prescriptions from a pharmacy that’s offering a discount is also another great way to save on prescriptions. When comparing different pharmacies, it’s essential to look for pharmacies offering discounts or instant savings.

You can also ask the pharmacist if they offer any discounts or sales on the medication you require. Sometimes, all you need to do is ask, and the pharmacists could give you a discount.

More Tips for Saving Money on Prescriptions

Most people today require prescription drugs. Some of these medications are essential life-saving drugs that you may need to remain functional.

Unfortunately, prescription medication can be expensive whether you’re buying using insurance or out-of-pocket. The good news is there are ways you can purchase cheap medications. Use the tips above and start saving money on prescriptions today!

Did you like this article? Check out other posts on our site for more money-saving tips.