Money

Day 19: Lower Prescription Drug Costs

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This post is part of the 31 Days to Radically Reduce Your Expenses series. Visit this page for even more ways to slash costs and eliminate unnecessary spending! 

Is there any way to lower prescription drug costs? You bet! Here are 6 ideas you will want to implement right away. #2 will save you hundreds!

Probably our biggest health struggle right now is affording medications. We have 2 main ones that we pay for, and our prescription coverage is not the greatest. We have a pretty high deductible to meet before the copays kick in, and those copays still end up being really high!

But there was a time not too long ago when we didn’t have insurance for medications at all, and it was even harder to find pharmacies that were willing to work with us at a discounted rate. Still, there were so many ways we learned to cut costs and make our everyday prescriptions affordable.

I’m excited to share these 5 ideas so you can try them for yourself!

How to Lower Prescription Costs:

1. Take Advantage of Discount Drug Cards – Prescription savings cards are fantastic if you don’t have insurance. I list a boatload of sites to choose from in this post, and it never hurts to print out a few to see which ones will give you the greatest discount. Beware, not every pharmacy takes these cards, so call around before you order a script so you don’t end up paying full price.

2. Ask for Samples – Another great way to lower costs is to ask for prescription samples at the doctor’s office. This is especially helpful if you are prescribed a new medication, or need to get through a financial rough patch, and don’t have insurance to cover it. Pharmaceutical reps are always peddling doctors with new meds, and almost always leave samples for patients to try. They might say no, but it never hurts to ask!

3. Search for Coupons – If you prefer to use a brand-name drug, or don’t have access to a generic, do a quick Google search for the manufacturer’s website to print off coupons. I found one for mine within minutes, and even though a $10-$15 coupon doesn’t sound like much, every little bit helps! FYI – if you have insurance, you probably won’t be able to use these coupons as they are only eligible for those without insurance.

4. Go Generic – I know this seems like a no-brainer, but if you have the chance to go generic, take it. Or at least research out the option. We chose to stick with a brand-name for one of my meds because I was concerned after reading multiple reviews on how the generic affected everyone so differently. Generics are supposed to have the same ingredients as brand-name, but they do carry different fillers that might not work for you. So again, do your research!

5. Use a Mail-Order Pharmacy – For insurance holders, a 3-month supply of prescriptions ordered through a mail-order pharmacy is not only convenient, it also saves money too! You’ll not only be charged a lower co-pay, but refills are super easy to do online.

6. Pay for a Smaller Amount of Pills –  If push comes to shove, and you really can’t afford a 30 or 90-day supply of meds, ask your pharmacist if they will separate out the pills into smaller amounts to make payments much more manageable. $100 a month for medications can be steep if you’re on a tight budget, but $25 each week sounds even better. Still, try to get into the habit of setting aside that $25 every week so you’ll have the $100 when you need it. This is budgeting at it’s core, and trust me, it works!

Today’s Challenge:

Take one of the ideas listed above and try it! Switch to a mail-order pharmacy, or download the GoodRx app — one simple step today can go a long way in lowering your prescription costs. Share which one you’re going to try this week in the comments below or tweet @KalynBr00ke using #ReduceYourExpenses!

{Go to Day 20: Reduce Health Insurance Costs}

If monthly payments are taking control of your budget, you don't want to miss this 31 Days Series to Radically Reduce Your Expenses.

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2 Comments

  1. Hi!
    I really like your current series (and your blog at all, of course). I already got a few ideas, that work for me.
    Thank you for share your ideas.
    Maggy

    PS: I am really glad of our health insurance system and that I don’t have to pay more than about 7$ for any medication. I can hardly imagine how tough it must be for someone without insurance.

    1. Thank you so much for your kind words, Maggy! $7 for a prescription is a fantastic price.

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