Studies suggest that Americans spend more money on their prescription medicine per person than in any other country. In 2015, we spent a whopping $325 billion alone on retail prescription drugs. Even if the federal government paid more or less 43% of them, the remaining is still a staggering amount.
If you’re wondering how you can save money on your prescription medicine, then you’re in luck because, in this article, we will be talking about how to make your prescription medicine cheap. These tips are viable with or without insurance, so they’re helpful for everyone struggling to pay for their drugs.
Tell Your Doctor About It
Most of the time, doctors prescribe name-brand medicines because they’re stapled medicines and proven effective. Also, most of the time, people don’t speak up when their doctors prescribe medicine, which is a huge missed opportunity. Why? Speaking up to your doctor when they’re prescribing medicine allows you to let your doctor know that you’re struggling with the prices of your medicine.
Sure, they don’t have a say on how much these medicines are priced, but you can discuss alternative options for your medication, especially generics. Prices of generics are often much cheaper than name-brand medicine for up to 90%. You can also talk to them about cutting off the drugs you no longer need or reducing the dosage of drugs you have to take.
Of course, this depends on the situation, but the fact remains that if you talk to your doctor about the prices of your prescription, most of the time, he can give you advice on how you can save on buying them.
Go for Generics
When developing medicine, pharmaceutical companies will apply for a patent to keep the development process for their medicine private. During this time, other companies won’t produce this medicine. This will make the main company monopolize the production of their medicine, which can make its price go up.
However, when the patent is over, other companies would be able to copy their development process and sell their products as generics, making their prices much cheaper for up to 90%.
But are generics safe? Generic and brand-name drugs have the same ingredients and effects to cure their intended diseases. The only difference between them is the cost. So if you want to opt for a generic drug, you can ask your doctor about it or your pharmacist even.
Before you purchase a flight, you could compare the cost of leaving at different times or compare the prices in a different airline. You can also do this with medicine. There are different brands for a specific type of medicine, and of course, some are much cheaper than others.
There are even online tools that you can use to make this task easier for you. All you have to do is input the name of the drug, and the tools will find brands for you. Of course, generally, a generic brand is much cheaper.
Look for Promotions
When a new drug is often expensive and is available only on a single brand, however, drug manufacturers often offer promotions and discounts to make it easier for the consumer. Sometimes, they have certain qualifications for members savings cards that people have to meet to use their promotions, like being insured or merely providing their medical information.
Not only that, but even pharmacies give out promotions for people to buy in their pharmacies. The most common is to entice customers to fill out a prescription for them. For example, if you’re a new customer, you will be able to get a $25 discount for your first prescription.
Order in Bulk
Some medications are offered in bulk; the most common is in the form of a 90-day supply. You can get this offer in your local pharmacy or your insurance plan. If you choose the latter, you can opt for them to be delivered to your house, and you can order them again through online means.
However, if you’re on a new medication, it’s advisable to only get the 30-day supply and move on to the 90-day supply if you’re not having any reactions with your med. Also, by ordering them in bulk, you can get massive savings than ordering for a few boxes at a time.
Medicine prices are going up as years go by, and it’s getting harder and harder for people to get a steady supply of prescription medicine. Luckily, you can do things to make your pockets safe by following the tips above. So if you want to save a lot of money on your prescription meds, being smart about it is the way to go.