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Save money on high cost prescription medications

Posted: 4:54 AM, Jun 18, 2018
Updated: 2018-06-18 05:54:07-04

Millions of Americans understand the high price tags of prescription drugs. But a little comparison shopping could actually save you money if you have time to shop around. 

Americans spend more money on drugs than people in any other country. But there are some simple ways to save on the drugs you need. 

A recent study showed Americans spent almost $400 billion on prescription drugs last year, more than $1,100 per person.
Many people who take prescription medications are finding that high drug costs are forcing them to cut back on their every day necessities to afford their medications. 

About thirty percent of those facing a rising drug cost do not refill their prescription. 

One way to save money is to talk to your doctor. Reports found that 70 percent of people who asked their doctor if they could cut down on their medications were able to eliminate at least one drug, so ask your doctor whether you still need all the medicine you’re taking. 

Ask your doctor for a cheaper alternative, this can also save you money. And using generics can save you up to 85-percent. 

Most physicians will write you prescription for a generic, if one is available. 

Also try to think 90-day supply. If you have a chronic condition like diabetes or high blood pressure, you can save money by getting a 90-day prescription from your doctor. 

Another way to save money, always ask your pharmacist, what is the lowest possible price they can offer.  Many will help with the research, and find additional ways to help bring the price down. 

Finally, shop around and call different pharmacies to compare prices.  You would be surprised to find that the cost of the same prescription can vary by hundreds of dollars. 

Many retail chains from supermarkets to drugstores offer common generics for as little as $4 to $5 a month. So, it can really pay for you to call around, to find the best price for you. 

Another solution, CVS has an app called the CVS Pharmacy RX Savings Finder. 

CVS pharmacists will be able to access ways you can save on your prescriptions based on the types of drugs you’re buying, your insurance plan and more. CVS’s new tool makes it easier to find cheaper prescriptions.
CVS Caremark offers clients offers preventative drug lists that make medications for many common and chronic conditions available at a $0 copay.  

There are other websites you can use, too. Good RX and Blink Health find cheaper prices on your prescriptions. Walgreens also has a prescription savings club. It offers savings on brand-name and generic medications as well as other Walgreens products.