Insurance is essential these days, but even if you have proper coverage, it may still cost you a fortune to get the prescriptions you need. Thankfully, there are ways you can beat the system and get a better price for your meds. Here are a few ways to save money so that you don't need to skimp on necessary medications.
1. Use Generics
Generic medications are always significantly less expensive than name brands. The fact that they have the same ingredients as the name brand makes it even more of a bargain. For instance, a month's supply of a popular antidepressant is $280 for the name brand, but the generic of that drug is an astounding $30. So even if you don't use insurance, you can see there are significant savings to using generics.
2. Try Pill Splitting
Doctors know about the rising cost of prescription
medications and try to help their patients maneuver the system. One trick is to
double and split the pill in half. For instance, a blood pressure medication
comes in 50, 100, and 150 milligrams.
You only need 50 mg to manage your condition, but your
doctor can write the script for 100 mg. If you split the pill, you can get two
months' worth of the medications for the price of one. Unfortunately, not all
doctors are willing to do this for you, but if you have a physician who
understands and wants to help, it's beneficial for your wallet.
Additionally, you need to make sure the medication can be split, as this doesn't work with capsules, ortime-releasedd prescriptions.
3. Ask for the Cash Price
Most people need to learn that your insurance company's
price drastically differs from the cash price. It isn't always common knowledge
about the œdiscount price, but it's always worth asking about it. The
difference comes from your insurance company and the deal they've negotiated
with the pharmacy.
Someone with one insurance provider might get a better deal than others. Yet, there's a cash price or what the drug costs when no insurance company is involved. While the price may be higher, sometimes it's a lot cheaper. It depends on the drug and other factors. Many pharmacies have a list of $3-$4 medications you can buy for a cash price, and it's much cheaper than going through your insurance company.
4. Use Discount Cards
There are many discount programs out there that can benefit
you. For instance, many drug companies will offer coupons to help you get the
medication you need at an affordable price. There are all kinds of cards and
things you can get to help reduce the costs, but you need to shop around to
find the best prescription discount card for your family.
The goal is to pick a pharmacy and discount program that gives you the most economical price. Remember, some pharmacies are easier to work with and more cost-friendly than others.
5. Search for Assistance Programs
If you're choosing between paying your mortgage and getting
your medications, you need to seek help. Many state and local programs help
people with such issues, especially if your income falls under the guidelines for Medicaid, which include your monthly income, household size, disability,
and family status.
If you qualify, getting onto a government program can reduce or eliminate all medication costs. The Marketplace also offers reduced packages for those who are self-employed or don't fall within the guidelines for federal or state programs.
6. Get a Better Health Insurance Plan
There are 101 different insurance policies, and you might
need a better plan. If you're getting coverage through your job, you can look
at the other packages and see if something fits your needs better.
Sometimes you need to pay more in your monthly premiums for better deals on doctor visits and prescriptions. While it appears best to take the plan that gives you the lower monthly cost, it might be more expensive in the long run.
Bottom Line
It's stressful for some people to navigate their medications
and monthly budget. The cost of prescription drugs continues to skyrocket, and
there's no relief in sight. Thankfully, by utilizing a few insider tips and
tricks, you can learn ways to get what you need at an affordable price. If you
find that you still have issues meeting the demands of your medical needs,
state and federal programs may be able to assist.
