We all have to take prescription drugs at one time or another, some of us more than others.
Sometimes a necessary prescription will cost way out of our price range, in addition to costly medical bills. We should never have to choose to go without much-needed medication or make choices about the cost of medical care over other expenses. And we don’t have to.
There are plenty of ways to save money on prescriptions if you know what to do and where to look.
Below are 5 easy money hacks to help you save money on prescriptions.
1. Check if the Cash Price is Different Than the Insured Price
Believe it or not, there is often a difference between the cost of a prescription paid by the general public versus the cost the pharmaceutical companies charge the insurance company or the co-pay the insurance company charges. Sometimes it’s more, but often it’s less.
Prescription drugs are grouped into categories by insurance companies. There are times when a drug will be under a pricey category, but the out-of-pocket cash cost is much less.
A simple question to your pharmacist will let you know. If the co-pay is $30, for instance, but the cash cost is $15, what to do is obvious.
2. Get the Generic or Over-the-Counter Drug
Many prescription drugs have a much cheaper generic brand.
In addition, sometimes an over-the-counter option at a similar strength is available.
Compare prices of these to find the less expensive option. Depending on your insurance plan, one or the other will help you save on prescription costs.
3. Find Online Prescription Discount Cards
Several websites offer prescription discount cards or coupons. Sometimes the manufacturer’s website will include coupons. :
Some companies will strike a deal with providers. If you get discount or coupon cards from websites like GoodRX.com or BlinkHealth.com, you can only use them at participating pharmacies.
However, you can definitely save on prescriptions this way. Usually, you can’t combine the discount from the coupon with other discounts, including insurance.
Again, compare prices between the coupon cost, the insurance cost, and the cast cost, and pay the less expensive one.
4. Buy Prescriptions Online
Countries outside the US sometimes offer prescription medications at a different price, often at a deep discount. Also, these online dealers will offer additional discount coupons and allow you to compare prices.
There are restrictions on this. The other downside is that the FDA doesn’t regulate these medications, and therefore come with no quality guarantee. However, it behooves any company only to sell quality products regardless, and most are the same as what you’d get in the US.
Some websites offer many prescription medicines at half the cost half or less than what is charged in the U.S. For more information click here.
5. Get Free Samples
Before all this, however, it might be a good idea to have a chat with your doctor about the prescription prescribed. He or she might be unaware of the high cost, and an alternative, with equal results, might be an option.
Also, both your doctor and the manufacturer might be able to offer free samples. This can not only help save prescription costs but help you decide if the prescription is the right one.
Save Money on Prescriptions
These are some simple ways to save money on prescriptions.
Until there are more regulations placed on pharmaceutical companies to defray the cost of much-needed medications for most Americans, we’re forced to look at ways to save money on our own.
For more great hacks and tips on saving money, visit our blog.