So you head to the store with your insurance card assuming you are getting the best price for your prescription drugs. Not necessarily. Because of a variety of factors including high deductibles, co-pays, the medication brand, or even the store itself could be costing you without realizing it.
We have 7 great ideas you should consider which could potentially save you hundreds of dollars on your prescription medications. Some of our tips are incredibly simple!
- Go to a big box store instead of a small pharmacy – Many pharmacies in grocery stores and big-box chains offer hundreds of generic medications for just $4 (for a 30-day supply) or $10 (for a 90-day supply). Ask for the list when you’re at the pharmacy or look it up on the Internet, and bring a copy to your doctor.
- Try generic – For example, the cholesterol-lowering drug Lipitor retails for about $390 for a 30-day supply. The generic version, atorvastatin, is about $10 for a 30-day supply.
- Get a bigger dose – Some prescription medications can be divided with a pill splitter. WARNING: As a general rule, extended-release or slow-release medications should not be split. Talk to your doctor first!
- Get a larger supply – Instead of getting a prescription that lasts for 30 days, and making an insurance copay each time, ask for a 90-day supply so you can make just one copay every three months.
- Does your insurance offer mail order? – Often at substantial savings and again, only one co-pay
- Apply for assistance – There are many kinds of prescription assistance programs, offered by state and local governments, Medicare, nonprofit groups, and even drug makers. The programs typically have income requirements. Nonprofit organizations include: Needy Meds and Partnership for Prescription Assistance. Other resources include state assistance programs. Another option is to call the manufacturer of your medication directly.
- Shop around – Call pharmacies in your area to compare prices, or use a computer or smartphone app to do the work for you, such as WeRx or GoodRx.
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