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LIVE WELL WORK WELL AUGUST | PRESCRIPTION SHOPPING
TIPS FOR SAVING MONEY ON PRESCRIPTIONS CONSIDER THE FOLLOWING TIPS 1. Go generic. If a generic option isn’t available, ask your doctor or pharmacist if there’s a similar drug with a generic version. 2. Compare prices. Instead of running a prescription through insurance, use an app to compare and find the least expensive option. Remember – if you don’t use the plan, your purchase probably won’t count towards your deductible.
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3. Order a 90-day supply. Once you know a prescription works well for you, ask if there’s a way to get a 90-day supply instead of a 30-day supply.
According to IMS Health, the United States spent nearly $450 billion on prescription drugs just five years ago, and prices have only increased since.
4. Sign up for a reward program. Major drugstores and chain stores often offer some type of rewards program. It’s free to sign up, and you’ll receive coupons and accumulate points when you fill prescriptions or use other pharmacy services. 5. Use a preferred pharmacy. According to AARP, over a third of employers have pre-negotiated lower costs through preferred pharmacies for employee health benefit plans. Did you know that prescriptions can be different prices depending on the pharmacy? 6. Shop around. Surprisingly, small and independent pharmacies tend to be less expensive than large chain alternatives. It might be worth filling your prescription at the little pharmacy around the corner.
Prescription drug spending has been a fairly small proportion of national health care spending compared to spending for hospital and physician services, but it has also been one of the fastest-growing components. The good news is, there are plenty of ways to keep your prescription shopping manageable and more affordable.