Prescription drug prices have been rising faster than inflation for years, making it difficult for many people to afford their prescriptions. Millions of Americans report that they have been hit with considerable increases in their drug costs within the last year, ranging anywhere from $20 to more than $100 per prescription. Fortunately, there are many ways to save money on prescriptions with a little bit of effort. Here are some of the best ways to save money on prescriptions.
Comparison Shop
Many people do not realize that they can save money on prescriptions by comparing prices just like they can compare prices for other goods. According to a recent Consumer Reports study, only 17 percent of respondents said that they comparison-shopped to see whether they could get a better deal. The price for a particular drug can vary widely between drug stores, so you may be able to get a better deal by shopping around.
Ask For Price Matching
If you find a prescription for a lower price at a location that is not convenient, ask a closer pharmacy if they would be willing to match the price. Many companies are now offering price matching because they know that their customers can always go online to find a lower price. Websites like GoodRX.com can help you find the prices you can expect for each prescription.
Try Independent Drugstores
Independent drugstores often have lower prices for some prescription drugs because they have fewer expenses that they must recoup through sales. Independent drugstores also have more flexibility to negotiate prices with their customers. Check GoodRx.com to learn the “fair price” for your prescription and use that to negotiate when a pharmacist quotes you a higher price.
Ask For A 90-day Supply
You can save money on prescriptions by asking for a 90-day supply for drugs you are taking long term. You will pay less in co-pays and will have to go to the drugstore less often, saving time and transportation costs. For discount generic drug programs, paying $10 for a 90-day supply amounts to less than $4 every 30 days.
Fill Prescriptions With An Online Pharmacy
Online pharmacies often have lower prices for prescription drugs because they have lower overhead. Make sure that you are only using online pharmacies that operate within the U.S. and display the “VIPPS” symbol to show that it’s a Verified Internet Pharmacy Practice Site. Read the terms carefully once you’ve verified that an internet pharmacy is legit.
Paying Out Of Pocket May Be Cheaper Than Using Insurance
Many people believe that using their health insurance for their prescriptions will get them the best price, but that is not always the case. Many pharmacies have special deals on generic medications that allow you to pay little out of pocket for them. When you fill your prescriptions, ask the pharmacist to give you the best price for them. They may have discounts on them that you do not know about.