Drug prices are constantly on the rise in the US.
People are being forced to spend exponentially more each month on essential medication.
For instance, the average annual cost of taking 4.5 prescription drugs a month was 3.5 times higher in 2017 than in 2002. That’s shocking.
After all, these drugs can literally make the difference between life and death.
Imagine being forced to spend your hard-earned cash on life-saving drug treatment. You’re caught between a rock and a hard place, forced to suffer financially for the sake of enhanced health.
Thankfully, there are numerous ways to save money on prescriptions.
That’s sure to be music to the ears of anyone struggling with the burden of exorbitant prescription costs. Want to learn how to cut your monthly drug expenses?
Read on for 8 essential ways to save money on your meds.
1. Change the Prescription Drugs
First thing’s first: Different drugs come with varying price-tags.
Consider asking your doctor if there’s an alternative, cheaper medication you can take instead.
There might be a similar treatment to help your condition, without the hefty price tag.
Chances are high that your doctor has prescribed the recommended medication for the task. It may have fewer side-effects and demand little follow-up support.
You can almost guarantee that alternatives exist, though. Speak to the doctor about your options. Often, the next best thing is enough to treat your condition and save some money.
2. Ask for Generic Versions
Have you ever wondered why two items of clothing can look identical, but be worlds apart in the price?
One word: branding.
Well-known brands can afford to charge a premium. People know, trust, and value their products; they charge 10 times more as a result.
The same happens with medication.
Many widely-used (and sold) drugs are big name brands in the industry. However, there’s almost always a generic, non-brand drug that does the same job for a much lower price tag.
Generic drugs lack the name but still have FDA-approval. Speak to your doctor to see if any are available for your condition. You can save yourself a lot of money in the process.
3. Leverage Larger Stores
Big-box stores often provide major savings on medication.
Of course, you might want to support your local high-street pharmacist. It’s hard to argue against the greater financial viability of larger stores though.
Their ability to buy at scale creates significant opportunities to offer savings.
The same applies to their medication. In fact, this tip often works hand in hand with our previous one. The cheapest prescription drugs are usually generic brands purchased from big-box stores.
This is one of the most inexpensive ways to buy drugs without utilizing the internet.
4. Utilize Your Insurance
Pay for health insurance?
It goes without saying that you should check if they cover your prescription medications. Give the company a call to inquire about coverage.
No luck? Well, remember that alternative drugs might do the same job. Be sure to ask them for clarification on similar medications that would be covered.
You can quickly discover if there’s wiggle-room in your insurance policy to help reduce monthly drug costs.
5. Enquire About the Cash Price
This tip refers to a particular scandal in the pharmaceutical industry.
Essentially, the insured price for certain drugs can hugely exceed their cash value. What does that mean practically? Well, many people assume the drugs paid for through insurance will be the best value for money.
Yet that might not be the case. Paying in cash could actually have saved them large sums of money.
Do some digging to discover if that’s the case for you as well. Speak with the pharmacist to realize the difference in price.
It may be more financially viable to buy the medication with cash versus insurance.
6. Buy in Bulk
Bulk buying is always a valid way to save money.
That’s why wholesalers can offer such discounted prices. You commit to buying more goods, which come at a reduced individual price.
Consider taking the same approach with your medication. Of course, this requires having access to more cash upfront. Yet, assuming that isn’t an issue, think about purchasing a larger supply.
Do you usually buy 30 days’ worth? Why not push it to a 90-day supply? Taking this step will inevitably bring the per-unit cost down. Over time, that can amount to substantial savings.
7. Leverage Prescription Assistance Programs
Have you looked into accessing financial support for your drugs?
These schemes offer a quick and easy way to bring your prescription bills down each month.
If your income falls below a certain threshold, then you might be eligible for considerable savings. Whether it’s through government or a charitable scheme, there are numerous options out there.
It’s always worth inquiring about. You could be eligible for major financial support and not even realize.
8. Buy Through the Internet
Online pharmacies are becoming increasingly popular, too.
Without staff and property expense considerations, online drug stores can afford to reduce the asking price on medication.
Moreover, you can order medication from the comfort of your home. That’s a considerable advantage for people with debilitating conditions.
Certain restrictions do apply; it’s worth thinking about potential quality issues too (always use a reputable online pharmacy like ours).
Nonetheless, for financial and time savings, increasing numbers of people are now buying their prescription drugs online.
Time to Save Money on Prescription Drugs
Many Americans are forced to spend thousands of dollars on medication every year.
It’s a classic catch-22 situation. Peoples’ health is held to ransom. It’s a case of “spend the money, or see your well-being suffer.”
Of course, in a choice of sacrificing their health or cash, most people trade the money. Yet charging top dollar for potentially life-saving treatment is, to say the least, morally questionable.
Thankfully, there are many ways to save money on prescriptions.
Have you had experience with this struggle? Obviously, always speak with your doctor before making changes to treatment plans. Hopefully, though, this post will help you enjoy significant financial savings all the same.
Looking to purchase medication online? Speak with your doctor before changing your drug treatment. Having done that, click here to check out the prescription drugs we have available.