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Ten tips for saving on prescription drugs
1. Shop Around. Basic advice, yes, but this may be the single best way you can save on medication. By comparing prices, you’ll often find that the same drug is a few dollars cheaper at one pharmacy than another. Those dollars add up.
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2. Know your formulary. The formulary is the preferred list of drugs that your health plan will pay for. If you stick to that list, your of out-of-pocket expenses will be minimized.
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3. Talk to your doctor. Physicians often have no idea how much patients spend on prescription drugs. Tell them. Don’t worry about telling your doctor you can’t afford expensive medication. Physicians often can be flexible about which drug they choose and can customize treatment to the individual.
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4. Think before you refill. Avoid purchasing unnecessary drugs or stockpiling pills. Unless you need it, do not automatically refill a prescription if it is only for occasional use (such as some pain medications). If a drug is prescribed “PRN,” which means “as needed,” you can wait until you actually need it. This will help prevent having a medication expire before you use it all. |
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5. Consider over-the-counter options. Some drugs that used to be available only by prescription are now sold over the counter (OTC). For instance, ibuprofen is sold OTC in 200mg doses but is sometimes prescribed in 800mg doses. Check to see which is the better deal for you – sometimes a prescription is actually less expensive than an OTC version, sometimes not! |
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6. Go generic. When you are prescribed a drug, ask your doctor or pharmacist if a generic version that still fits your formulary list is available. Generics are almost always less expensive than brand-name drugs. Generic can be chemically different from their name-brand versions but they are subject to the same safety standards and may often be substituted for the brand-name drugs. |
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7. Split your pills. If you are often prescribed a medication in 50mg doses, it may be cheaper to buy 100mg tablets and divide them in half at home using a pill splitter (sold at the drug store). Check with the pharmacist to make sure the pill is splitable – coated or time-release tablets don’t work the way they are supposed to if they are split. |
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8. Sign up for discounts. If you do not have prescription drug coverage, consider a discount drug plan. These plans negotiate special pricing and can either mail you your medications or give you a discount card to use at your local pharmacy. |
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9. Use mail-order or online pharmacies where your plan designates lower co-pays for such use. Remember that out-of area pharmacies won’t have your complete medication records, so they might not warn you of potential interactions and adverse reactions. Make sure they know about any other medication you are taking, including dietary supplements. |
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10. Ask for a sample. Your physician receives a number of free samples from pharmaceutical reps to give to patients, often the newer medications that cost more. It doesn’t hurt to ask. |
