6 ways to save money on prescription drugs

If your medicine cabinet is stocked full of prescription medication, likely you have spent a small fortune on some of them. As concerning and frustrating as it is, the continual rising costs and availability continues creating roadblocks for patients receiving proper health care treatment. Many patients are finding that they are bearing more and more of the cost burden than ever before.  This puts patients in a position of having to choose between filling a costly prescription or not and in turn, paying the consequences of missed doses that can lead to their illness not being treated and the negative health outcomes of that.  According to the National Center for Health Statistics, nearly 10 percent of U.S. adults don’t take their medication as prescribed because of expense. For uninsured adults, this number climbs to 14 percent. 

Instead of feeling the frustration and worry over being able to afford medication you need to stay well, take advantage of strategies that can help find solutions to make them more affordable and accessible.  Here’s how: 

1.  Discuss your concerns with your doctor

A study from the University of Michigan National Poll on Healthy Aging found that 27 percent of 2,131 participants ages 50 to 80, considered their prescription medications to be a financial burden and yet nearly half of them never mentioned the burden to their doctors.  Yet out-of-pocket drug costs are a medical issue you should bring up to your doctor and they also have a responsibility to check on their patient’s access to their medications. 

Doctors can often recommend cheaper alternative medications, if available.  This same study found that 67 percent of patients who did discuss drug costs with their doctors were able to be told of a less-expensive option.

2.  Have this same discussion with your pharmacist

Your pharmacist is the next person to have this same discussion with on finding cheaper medications.  They will often be knowledgeable on whether your insurance plan covers a particular drug or its costs.  The study from the National Poll on Healthy Aging found that 37 percent of patients who inquired of their pharmacists about drug costs did have luck on recommendations of less-expensive drugs.  Pharmacists may also be aware of other money-savers such as prescription discount cards and patient assistance programs for some medications.

3.  Consider switching to generics or other lower-cost drugs

There may be generic or other low-cost alternative than brand-name drugs that would work just as well as the ones you’re taking now.  Ask both your doctor and pharmacist to find out if there is an option for you. 

4.  Utilize coupon savings

If you are using a medications you need that does not have a cheaper generic equivalent, there may be an opportunity for coupon savings directly through the drug manufacturer.  If you have a commercial prescription insurance plan such as through your employer or private insurer, you may be eligible for substantial reductions on your monthly copays with these coupons savings programs.  In order to keep their medications competitive and accessible, drug manufacturers may offer these coupons to make your copay comparable to the less expensive options your insurance prefers.  The most reliable way to find these coupons for brand-name medications is through the manufacturer’s website.

5.  Patient assistance programs

If you find out you are not eligible to qualify for a coupon savings program from the manufacturer, many of the brand-name drug manufacturers offer Patient Assistance Programs for uninsured or low-income patients.  Use the manufacture’s website to see if these programs are available or search for the drug name at RXAssist.org, a nationally recognized resource for finding reliable patient assistance program information and criteria. 

For generic medications, try RXOutreach.com which offers generic medications at a discounted rate to qualifying patients depending on their household income. 

6.  The most important thing to remember

The best thing you can do for your health is to not stop taking your medications.  It can be tempting to skip doses or just forego filling a prescription altogether.  But this only can lead to your illness or condition becoming worse.  In the long run, not taking your medication will cost you far more since if your go untreated or under-medicated, it can lead to far more serious and expensive health care outcomes such as hospitalizations, emergency room visits, missed work days, and an overall reduction in your health. 

Keep taking your medication and never stop taking them without consulting with your doctor first.  Take advantage of preventive appointments and annual well-care visits.  Become an advocate for your health by working with your doctor and pharmacist to find the most affordable and effective medications you need together.