Based on a study conducted by Rand Corporation, drug prices in the United States are 2.56 higher than in 32 other comparable countries. The rising costs of prescription medicines have prompted individuals to find the most efficient saving strategies.
To become a smarter healthcare consumer, here are seven practical strategies to help you save on prescription medication costs and make informed decisions regarding your health.
Prescription Discount Cards and Coupons
Check out Free Drug Discount Card and Coupons to cut your prescription drug costs. You can just visit the site or download the apps of your provider and look for a pharmacy where you can buy your medication at the lowest price possible. Make sure to adjust the filters based on quantity and dose before selecting the coupon.
Some pharmacies would offer coupons to encourage customers to fill prescriptions with them, and the free coupons would be available to customers of all income levels and insurance status.
Generic Medications
Switching to generic medications may be a good idea if you have been taking the branded prescription drugs. Generic drugs are the same as the branded ones, only that they cost cheaper.
Generic prescription drugs are exact copies of the branded ones, and they are usually produced with the same quality standards as the branded ones. They have the exact suggested dosage, route of administration, side effects, intended use, strength, and quality.
Additionally, branded medications have undergone a lengthy drug development process, and for manufacturers to cope with their expenses, they would charge more for the medicines.
While it may make you feel better to buy the branded ones, at some point, your budget may lead you to buy the generic versions of your prescription drugs, especially the ones with high price tags. If you are suffering from a specific illness, ask your doctor which version of the drug would work best for you. This will give you peace of mind as you recover from your condition.
Utilizing Patient Assistance Programs (PAPs)
Mostly sponsored by pharmaceutical companies, patient assistance programs (PAPs) may also be nonprofit-sponsored or funded y state programs. PAPs offer low-cost medications to those individuals who aren’t insured, underinsured, or just can’t afford them.
Generally, you need to be a United States resident to qualify for the programs. Additionally, you must prove that you aren’t insured or that your insurance doesn’t cover your medications. Depending on the program, eligibility requirements may vary.
Mail-Order Pharmacies
Buying mail-order drugs can save you large amount of money in the long run. More than this, you can skip the queues in your local pharmacy and just wait for the package to be delivered straight to your home. What’s more, when you buy at a local drugstore, you will likely get a 30-day supply of your medication, but with mail-order drugs, you can avail of a 90-day supply of your medication.
When you use a mail-order pharmacy, request two prescriptions from your doctor. One should be good for two weeks that you will buy from your local pharmacy, and the other should be the 90-day supply, which you can send to the mail-order pharmacy. This way, you still have enough supply of medications while waiting for your delivery to arrive.
Check Your Insurance Coverage
If you are insured, learn the details of your plan’s design. Check the specifics like the list of covered branded and generic medications as well as the tiered pricing structure where you can find the prices of the drugs that treat the same illness.
Through your insurance company’s website, you may also navigate through the medication pricing tool to find out your copay. If you are insured under commercial insurance, you may have a restricted choice of pharmacies or an exclusive mail-order service.
Open Communication with Healthcare Providers
If you have been taking a specific prescription drug for so long and have observed improvements in your condition, it may be the best time to ask your doctor if the medication is still necessary. It may be possible that certain lifestyle changes and efforts you have employed led to a better condition. If this is the case, your doctor may stop prescribing the medicines or prescribe a lower dose of the same medication, thus reducing medication costs.
Ask for Samples
If you have been prescribed new medications, your doctor may have samples of these drugs. Try to ask for a sample to see if that specific drug is effective for you without having to pay expensive upfront for the entire set of medications you have to stake within a specific period.
Final Thoughts
To significantly reduce prescription medication costs, you may proactively follow the practical strategies we have covered here. Assess your circumstances and needs and see if these tips apply to you. With planning and research, you can build a sustainable approach to medication management and savings, ensuring your health remains a top priority above everything else.