6 Ways to Save Money On Prescription Drugs

It's not hard to understand. Things are tough these days for most folks, and many individuals are trying to save a buck here and there. When it comes to prescription drugs, the prices have soared in recent years, leaving people scratching their heads and unsure which way to go. Financial experts are sharing their tips on how to save some cash when you're buying your prescription meds.

Why Are The Prices So High?

Those who need prescription drugs are baffled by the skyrocketing market in the United States alone. Your meds shouldn't be so costly that you have to choose between purchasing groceries and filling your prescription each month, but it has happened for some people.

The affordability of one's meds seems to be affected by a complex variety of factors, and according to the government's National Library of Medicine, product pricing also depends on all sectors of health care. Some of these would include price regulation, research and development costs, rare diseases, drug shortage, etc.

1. Choose Generic

One of the best methods for saving money on expensive prescription meds is by going generic. Ask your primary care doctor if the drugs you require come in generic form. These meds are not sub-par but equal to the big brand names and are made with the same active ingredients.

There are several insurance plans that offer you a lower copay when you opt for generic medicines, so this is something to consider and can save you a significant amount of money.

2. Try Mail-Order

Mail-order drug services are another way to put more cash into your pocket. Often, you can receive a 90-day supply of each of your prescription drugs delivered to your doorstep. It's convenient, and you can refill online or by telephone at any hour of the day or night.

You don't need face-to-face contact with a pharmacist, and some folks feel safer this way than having to go out in public where large groups of people are gathered and risk picking up a disease.

3. Opt For Discount Programs

There's one method that some people aren't aware of, and they could be saving major money on their prescription meds. There are fine programs out there, which can offer you a prescription discount card for free to help lighten your load, and there are no strings attached.

Who wouldn't enjoy receiving awesome discounts on thousands of brand-name and generic medications? Even if you and/or your pet do not have health insurance, that is alright. The special card is easy to download and free to use. You can often save an average of about 80% on your prescription costs.

How is this even possible, you may ask? These companies work directly with drug manufacturers to help reduce the costs of the meds and make them affordable to more people.

4. Request Free Samples

Don't be afraid to ask your doctor questions and inquire about free medication samples. Some physicians offer these to their patients, but it's always okay to ask. Often, your primary care doctor will have samples in full sizes that you can take for your condition such as blood pressure medications.

5. Compare Pharmacy Prices

Shop around and look for the lowest prices when it comes to your medication, especially when you are paying for the full cash price. Some retail pharmacies vary in medication prices due to their locations and the volume of the prescription business they handle.

Choose a pharmacy and pharmacist that works for you, and keep all of your meds bought under the same prescription roof.

6. Learn About Medicare Part D.

If you're over the age of 65, Medicare prescription outpatient drug coverage (Medicare Part D) can help you tremendously. The copays are rock-bottom and often only amount to $5 or $10.

Part D plans have been designed to help pay for medications you take regularly to manage chronic conditions. Some of these would include high cholesterol, heart disease, or asthma, for instance.

Bottom Line

No one enjoys spending their money on out-of-control price hikes for prescription medicine. You can avoid that hit to your wallet by trying some of the effective solutions outlined above.