How to Save Money on Prescription Medication: A Guide

A recent survey shows that many people taking prescription drugs pay around $20,000 every year for the medication they need.

As such, these vital medications can contribute considerably to financial hardship or even lead to people going without the medicine they need.

If you’re one of these people, we’ve got great news for you. You can afford the drugs you need thanks to these simple tips on how to save money on meds.

Speak to Your Doctor

Your doctor can help you with anything regarding your health and they can help you save money on prescription meds too.

It’s always a good idea to take an honest approach with your doctor. Explain your situation to them at the outset. They might have free samples for you to try out.

This has two benefits. It gives you time to research alternatives and you’ll get a chance to try out your new medicines before committing to a full month’s supply.

They can also help you with many of these cost-cutting tips.

Opt for Safe Alternatives

In some cases, your doctor can prescribe an alternative, cheaper medication that has the same effect. Perhaps cheaper, long-established medications, like penicillin or statins, work just as well as more expensive new drugs.

Secondly, many commonly prescribed medications have generic alternatives that cost a lot less than the branded variety. These generic meds have the same active ingredient and they’re totally safe.

There’s a good reason why generic medicine’s cheaper. When pharmaceutical companies develop their products, they spend a great deal of time and money on research.

They recoup these costs by including them in the price of their products.

Ultimately, the patents on these medications expire. When that happens, other pharmaceutical companies have carte blanche to develop similar medications using the same ingredients.

So you needn’t worry about the price tag of generics being an indicator of quality. All generic drugs are tested by the FDA and safe to use. 

In some cases, you could pay as much as 50% less to get the same results.

Amend Your Prescription

A little research may reveal that you pay less per pill when you order in bulk. Ask your doctor to change your 30-day prescription to a 60- or 90- day supply.

This way, you won’t have to deal with filling your prescription as regularly either.

Go in Search of Savings

If you’re out of luck when it comes to generics, you can still benefit by saving on meds in other ways. There are two main ways to do this:

Look for Pharmacy Savings Cards

Thanks to prescription discount cards, you could save up to 80% on the medications you need. You can search for these online and sign up by entering the medication you need, as well as the correct dosage and quantity.

When you’ve completed your application, you can compare prices with pharmacy competitors, take your pick, and download your card. 

These cards stem from arrangements between pharmaceutical companies and when you present them at the pharmacy, you’ll get huge discounts.

Some pharmacies like Rite Aid, Wizard Pharmacy, and CVS have loyalty programs that grant you savings when you shop for meds with them.

How to Save With Coupons

Often, to promote their new drugs, pharmacies offer a discount to people who can benefit from these medications. Usually, you’ll need health insurance to qualify for these benefits and you’ll also have to provide your medical information.

Some retail pharmacies also offer coupons for common medications or in-store discounts as part of their marketing efforts. Ask around before you fill your prescription.

Apply for Prescription Assistance

Certain entities like drug manufacturers, NPOs, and local or state governments help to pay for medications. These PAPs exist to help people afford costly medications. You’ll need to prove two things to qualify for assistance:

  • Financial need
  • That your insurer won’t pay for the meds

Buy Your Meds Online

Using online pharmacies for your prescription medications can yield big savings. Canadian pharmacies offer their products at much cheaper prices than local ones.
You can save on both generic and branded medications by shopping with a reputable online pharmacy. In addition, these retailers also offer a host of loyalty programs, free deliveries, and extra discounts to help you save even more.

Your Pharmacist Knows How to Save Money on Meds

Like doctors, pharmacists are committed to helping their clients get excellent medical care.
If you tell them about your struggles, they can assist in several ways, like:

  • Asking your doctor for a cheaper alternative
  • Offering you an in-store discount
  • Giving you suitable over-the-counter alternatives
  • Advising on whether you’ll save by paying cash instead of using your insurance
  • Help you with mailing services or discounts on a 60- or 90-day supply

Pharmacists are also willing and able to provide free information and assistance when you’re looking for cheaper alternatives.

If your doctor goes along with your pharmacist’s suggestions, they can send a new script in minutes, so you benefit from on-the-spot savings on the treatment you need.

Choose Prevention Over Cure

The best tip on how to save money when it comes to prescription medication is to avoid the need for them. Stay fit, eat healthy food, and get plenty of rest. It’s the best way to stay free of opportunistic diseases.

Keep browsing our blog for all the best tips to help you stay healthy longer.

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