6 Ways to Save on Prescription Drugs

Posted on May 21, 2007

Prescription drugs can be one of the biggest unexpected costs out there, and if the drugs become part of a long term treatment plan it can be financially detrimental.  By taking some time to evaluate your options upfront, you can save tons of money in the long run.  Here are six tips on ways to save on prescription drug costs:

  1. Shop around.  Prices can vary widely at different pharmacies.  Call around to find the best rate as well as shop online.  Try places online such as drugstore.com.
  2. Know your insurance plan.  Read your insurance plan or call to ask questions about your prescription coverage.  Many insurance plans have different classes of what is covered or on the approved list.
  3. Ask about generics.  Talk to your doctor about generic alternatives to name brands.  You can even ask them to prescribe a generic that is very similar to the name brand they were going to prescribe. 
  4. Samples.  Many doctor’s offices are given hundreds of samples of name brand drugs by pharmaceutical sales reps when they stop by the office.  Often times the doctors are happy to give away these to patients.  The thing to consider here if the drug is part of a long term treatment plan to investigate the on going costs of the drug.  If your insurance does not cover it adequately, and you will be taking it for a year, ask about a generic option that your insurance would cover.
  5. Veterans Administration.  If you are a veteran consider going to the VA and applying for coverage.  The VA has made a lot of headway with their hospitals in the last few years. 
  6. Review your prescriptions each doctor visit.  Make sure you discuss with your doctor each visit all the medications you are taking to ensure you still need each one.  Sometimes the doctor may not think one of them is still necessary.

 A few websites that may help and served as reference for the above tips:

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    » Filed Under Unexpected Expenses, Spending

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