With the cost of health care rising, knowing how to save money on prescription medications is important if you want to lower your health care bill. It is even more important if you find yourself without health insurance, as medication costs can take a large chunk out of your income. You want to be able to afford your medications without compromising safety or your standard of care.
There are three principal ways to save. It is possible to save money on brand name drugs, on generic drugs, and to use special programs to get discounts.
Two simple ways to save money on brand name drugs:
- Check prices online at Canadian pharmacies: Buying medications from other countries makes it easy to save as much as 80% of the price of brand name drugs. Though technically illegal, the FDA generally will not intervene if the supply purchased is for less than three months and if it is not a controlled substance. You still need a prescription from your doctor. If you do choose to use an international online pharmacy, a great resource is eDrugSearch.com, the ultimate source of information to help you freely compare drug prices and gain guaranteed safe access to affordable medications from licensed Canadian pharmacies.
- Check U.S. online and wholesale club pharmacies: Stores like Costco and websites like Drugstore.com often offer substantial discounts on brandname drugs.
Tips on how to save money on prescription medications that are generic:
- Check wholesale or big retailers: Large retailers frequently offer a 30-day supply for $4 or a 90-day supply for about $12. Walmart, Kmart, and Target are good examples. In most cases, not all generic drugs are included in these 4$ programs.
Other methods of how to save money on your prescription medications:
- Discount Cards: Obtaining a discount card from the drug company can net you a savings of about 5-15% on brand name drugs and quite a bit more on generic drugs. However, you will usually be able to save more money by shopping online and using eDrugSearch.com to compare drug prices from licensed Canadian pharmacies.
- State Programs: Many states have programs that offer subsidies to their residents to help them gain greater access to medications.
- Medicare Part D: Medicare enrollees can benefit from Medicare Part D Prescription Drug Plans. These plans resemble health insurance in that they require participants to pay a monthly premium, and they have deductibles. Medicare.gov has details on formularies and pricing.
- Prescription Assistance Programs: If you have a low income or spend a high percentage of your income on prescription medications, you may qualify for a discount from the pharmaceutical manufacturer. Pharmaceutical companies typically highly discount or will offer medication free of charge for eligible persons, so make sure to check with the manufacturer.
Learning to save money on your prescription drugs is easy to do safely and doesn’t take much effort. As always you, should speak with your doctor about purchasing medications internationally. But, using tools such as eDrugSearch.com will make you an informed consumer when you turn to Canadian online pharmacies to get the lowest prices for your medications from safe, licensed, and verified online pharmacies.
About this Angie’s List Expert: Cary Byrd is the president and founder of eDrugSearch.com. Based in San Antonio, eDrugSearch.com is a free cost comparison engine that helps consumers get safe access to affordable medications and advocates licensed online pharmacies as a widely accepted alternative.
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