Showing posts with label cost of prescription medications. Show all posts
Showing posts with label cost of prescription medications. Show all posts

Tuesday, November 3, 2015

The Best Ways to Save on Prescription Medication


The rising cost of prescription medications is a huge burden for many Americans. The good news is that there are ways you can take control. Here are some great tips that can help you save money on your prescription medication.

Go Generic

Whenever the option is available, you can save substantially by choosing generic drugs over brand-name. Generic drugs have the same ingredients, dosage, intended use, side effects, and strength as the original drug. The only difference is that it’s usually much cheaper than its brand-name counterparts – in many cases, 30-80% less!

Compare Prices At Your Local Pharmacies


The cost of a drug can vary from one pharmacy to the next, sometimes significantly. When choosing a pharmacy, compare before you commit.

The FamilyWize  Drug Price Lookup Tool is the perfect tool for this. You can use the tool to check and compare prices at different pharmacies. Simply enter your zip code and the name of the drug you’ve been prescribed, and the tool will search your neighborhood, giving you a list of where the drug is available, and at what price.


Use a Prescription Savings Card

Our free FamilyWize Prescription Savings Card saved an average of 42% off your retail prescription costs, or $29.14 per prescription, based on our data from 2014. In some cases, the savings with the card go as high as 75%! The FamilyWize Prescription Savings Card can oftentimes give you a better deal than your insurance, so whenever you go to the pharmacy, always show your FamilyWize card in addition to your insurance, and ask your pharmacist for the lowest price.

Use Common Savings Strategies

What works for saving money on general consumer purchases may also work with prescription purchases. For example:
  • Check out the pharmacy counters at big-box stores and club stores – they may offer better discounts than you can get through insurance.
  • If it’s a drug that you need long-term and that doesn’t expire too quickly, look for seasonal discounts or sales and stock up.
  • Look for offers and special deals from your local pharmacies.
  • If your insurance company doesn’t cover your medicine, talk with your doctor or pharmacist about alternatives that may be just as effective but cost less money.
  • See if your insurer has a preferred pharmacy or mail order service to help you get the best prices.
  • Ask your doctor or pharmacist to review your medicines to see if you can eliminate any of them safely.
Remember, no matter which strategy you use to save, taking your medication is crucial to staying healthy. A 2013 Consumer Reports poll revealed that more than 50 percent of us are taking potentially dangerous risks to reduce costs associated with our prescriptions, such as skipping doses, taking expired drugs, or not filling our prescriptions at all.

For more common sense tips on prescription drug safety and cost savings strategies, check out our free Live Healthy, Live Smart® eBook. We’re offering you this free booklet of tips to celebrate our 10th anniversary of helping individuals, families, and communities save money on their medication.

Ric Moxley
Contributing Writer