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(HealthNewsDigest.com) – Tired of spending hundreds of dollars on your prescription medications? If you’re willing to put in a little time and research, there are all sorts of ways to lower the cost of your medications. From updating your insurance company to switching medication brands, the cost of your medications doesn’t have to cause financial hardship.
Here are 6 ways to save money on your medications.
1. Switch to Generic
If your prescription medication isn’t new, chances are that multiple companies make the product. Newer medications that hit the market are often only made by a single drug maker which often drives up the price. Name brand and generic drugs use the same active ingredients and are tested to have the same effects. Unsure if your prescription is available in generic form? Ask your doctor or look online for a quick answer.
One of the biggest benefits of switching to generic medication is that large retailers like Costco and Walmart sell some medications for as low as $4 a prescription. For some, this is less than what you may be required to pay after insurance!
2. Look for Manufacturer Savings
Many drug companies offer discounts, also known as copay coupon cards, which make prescriptions much more affordable for patients who have to pay high out-of-pocket costs. These discounts typically last a few months. Be aware that if you’re covered by a government program like Medicaid or Medicare, you may not be eligible for a Cialis copay savings card.
Another manufacturer-based option to be aware of are patient-assistance programs. These programs are sometimes run by the drug maker directly though charities financed by the drug producer can also run the program. Patient-assistance programs make certain prescription drugs much more affordable, especially for low income patients. While these programs are often temporary, every little bit helps in reducing the cost of your medications.
3. Know Your Insurance Coverage
Not many people take the time to understand the ins and outs of insurance coverage. Before picking up your prescription, make sure that you’re fully aware of what your insurance company covers. The cost of your coverage will vary based upon your plan type. For example, some plans require you to meet a deductible before coverage applies. Other plans require a co-payment.
Many pharmacy benefit managers, such as OptumRx, Express Scripts, and CVS Caremark, allow you to search for drugs in their database so that you can see what you’ll have to pay before paying it.
4. Look for Discounts
Believe it or not, there are all sorts of savings options that apply to prescription medications. When ordering through a pharmacy, especially an independent pharmacy, ask if your prescription cost will be lower if you pay in cash. Some pharmacies offer lower rates for patients who don’t use their insurance coverage.
Another savings option is to look for coupons or free sample packs. Various drug manufacturers offer coupons that allow you to save money on your prescription. Others offer sample packs of medications at no cost.
Knowing where to find discounts can make the process much easier. The best places to look include your doctor’s office, the pharmacy, and online. Chances are you’ll find the biggest variety of prescription coupons online. For peace of mind, stick to using coupons that are posted on a manufacturer’s website. In the age of scams and fraudsters, you don’t want to get stuck with a fake coupon when picking up your prescription.
5. Compare Prices Online
Contacting local pharmacies to determine which retailer offers the lowest price can take a lot of time. For a one stop shop for comparing prescription drug prices, use sites like Single Care or HelpRx. Both of these websites allow you to quickly and easily compare prices at various local pharmacies. The websites even offer coupons for certain pharmacies to lower costs even more.
6. Try an Online Pharmacy
In the world of online scams and identity theft, the thought of buying and filling your prescription medications online can be scary. But, there are several reputable online pharmacies that allow you to safely and easily order your prescription medications. When ordering prescriptions online, be sure to only order from a pharmacy that is VIPPS-accredited. Trusted e-pharmacies include Aetna Rx Home, Avita Drugs, Caremark, Walgreens, Medly, The Kroger Co, and more.
For many, the ability to order online is extremely convenient. You don’t have to make a trip to the pharmacy and orders are typically delivered within a few days. With just a few clicks, your prescriptions can be on the way!
Conclusion
The cost of prescription medications continues to increase. By keeping these 6 options in mind for lowering the cost of your prescriptions, you can better manage your money and balance your budget. Here’s to living healthily without breaking the bank to do so!
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