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How to Save on Prescriptions

How to Save on Prescriptions | Strategies to save on medical expenses | MoneywiseMoms

In the mail this week, I got a notice from our health insurance about all the changes that will go into effect January 1st. As usual, costs are going up, and one big one that will affect our monthly budget is our prescription costs. There's one in particular that's a name-brand (no generic available yet), currently costing us $65/month. The co-pay will rise to $100/month next year, so I'm trying to find ways to save on prescriptions. Here are a few strategies to try:

  • Check the manufacturer's website for coupons and discounts: For our $65 prescription, I googled the name of the drug and found their website. They offer a coupon good for one year that will take 50% off the co-pay price, as long as your insurance is okay with you using coupons. Next time I'm at the pharmacy, I'm going to see if they're able to apply the coupon to this prescription. That will save us $50/month just on that one drug alone!
  • Compare prices at other pharmacies: For generic prescription drugs, it's worth calling around to other pharmacies to see what they charge; you may be able to pay $3-4 instead of your usual $10+ co-pay. Fortunately, the pharmacy I'm using already charges us the cost of the drug or our co-pay, whichever is lower, so I've paid as little as $2 rather than our $10 co-pay.
  • Ask your doctor for samples: All three of my kids are asthmatic, so each time we go for their quarterly checkup, I ask our pulmonologist for samples of their maintenance drugs. Since many are brand-name (and therefore more expensive within our plan), those samples save us a month or more's expense each time. Every little bit helps! Our doctor has also worked to get my kids off allergy meds during the months they don't need them, giving both their bodies (and our budget) a break.

I'm concerned about how these rising costs will affect our budget for next year, so I'd love to hear from you!

What other ways do you save on prescriptions?

 

Original image from Charles Williams on Flickr

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dana

Thursday 31st of October 2013

due to my recent diagnosis of melanoma at age 28 i am without insurance until jan 2014 and i have been using an app on my iphone called goodrx ... i am able to find the current pharmacy prices at each pharmacy location. An rx that cost me $225.00 only cost me $120.00 at harris teeter as opposed to the $225.00 wags charged. This app has been a life saver to say the least- i hope this info helps!

Gina

Friday 1st of November 2013

Thanks for the recommendation! It looks like you can use GoodRX online as well as an app. I just went to www.goodrx.com and found the info.

Natalie

Wednesday 30th of October 2013

Our insurance company offers a mail order service. We use that for most of the daily medications that my kids take, and the copay is less than if we would get refills at the regular pharmacy.

Gina

Wednesday 30th of October 2013

Great point, Natalie. I know I've gotten info in the mail about that, but I was feeling intimidated about having to switch them all over (four of us are on monthly meds). I'll look into it!

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