Getting your prescriptions filled should be straightforward—just head to the pharmacy and pick up the medicines your doctor prescribed. However, for many people, it’s financially challenging. With other expenses like groceries and rent, paying for expensive medication can seem impossible. As a result, some people skip filling their prescriptions to ease their financial stress.
Prescription drug prices are rising faster than any other area of healthcare. The more prescriptions you have, the harder it is to afford them, even with health insurance. But there’s good news—you can find ways to pay less without ignoring your doctor’s orders.
Let’s explore how to get the best price for your prescriptions.
Many states and drug companies offer assistance programs for patients who cannot afford their medications. These programs vary: some are meant for those without insurance, while others help those with high copayments. Each program has different eligibility requirements, usually based on your financial situation and prescription costs. If you qualify, you can get your prescriptions for free or at a reduced price.
People often assume that pharmacy prices for prescription drugs are the same everywhere, but that’s not true. Prices can vary significantly—even for common medications. According to Consumer Reports, the price difference can be as much as ten times. Comparing prices at different pharmacies is a smart way to ensure you’re getting the best deal. It might seem time-consuming, but you can easily compare prices using drug price comparison websites.
Don’t just limit yourself to traditional pharmacies; various stores might offer better prices. Another option is a mail-order service, which can often give you lower prices than local pharmacies. You can conveniently order your medications online and have them delivered. Mail-order pharmacies typically provide a three-month supply, which can cut your out-of-pocket costs by up to 29%. This is especially beneficial for those with maintenance medications.
The best medicine doesn’t always mean the highest cost. Many patients shy away from asking about generic alternatives, fearing they won’t be as effective. However, the U.S. Food and Drug Administration (FDA) ensures that generic drugs contain the same active ingredients as brand-name drugs and are just as effective. Generics can be 30% to 95% cheaper than their branded counterparts, offering great savings.
If you don’t have health insurance, prescription discount cards can help lower your medication costs. Depending on where you shop and the type of drugs you buy, you could save up to 80% with a discount card. However, be cautious, as some discount cards are scams. Make sure to research and verify any card you’re considering to ensure it’s legitimate.
Health insurance often covers many prescription medicines. Your insurer will typically reimburse these costs, but you need to check which medications are covered under your plan. Discuss with your doctor to choose the least expensive options within your coverage.
Paying for prescriptions can be expensive, but with some research and effort, you can find ways to make it more affordable. While saving money is important, remember that your health should always be your top priority.