How to Save Money on Prescription Drugs: Tips and Tricks

Prescription Drugs on a Woman's Face
Photo Courtesy of Pexels – cottonbro studio

Do you want to save money on your prescription drugs? If so, you are not alone. Many people face high drug costs that can affect their health and their budget. Fortunately, there are some ways to reduce your pharmacy bill and get the medication you need without breaking the bank. In this blog post, I will share with you some tips and tricks on how to save money on prescription drugs, such as using co-pay cards, GoodRx, drug discounts, and more. You will also learn how to find and compare the best prices for your drugs and how to avoid some common pitfalls that can increase your drug cost. By following these simple steps, you can save hundreds or even thousands of dollars on your prescription drugs every year. Let’s get started!

Sometimes if you have low income, they, being the drug company or the state, may have special programs to make your cost lower. And do not feel ashamed taking the help. This is why you paid taxes all those years and when you need the help it’s there to take. Remember you earned it.

Other times this help isn’t income related at all. When you pick up a new prescription you will have a co-pay sometimes. If the drug costs a lot and the drug isn’t in the formulary or list of drugs your insurance company pays for it, this can get pricey.

I know a person who got a prescription that charged the insurance company close to $600 for a 30-day supply. The insurance company paid most of the amount except for a hefty co-pay of more than $75. This person had no choice and paid the bill.

After getting home another family member did some research and was looking for any help to pay for this since the person would need this continually.

There are discount cards like GoodRx and that actually got the cash price of the drug to $537 if the person had no insurance that is a savings. I would always ask what the cash price of the drug would be and compare it with GoodRx or another discount card. Surprisingly with generic drugs it can be cheaper just paying for it without insurance. You just should check.

But back to that $600 drug, the drug company offered a co-pay card. In this case if the person has insurance and the co-pay for the insurance is really high this drug company offered this free co-pay card. It was really helpful and didn’t cost a dime. I am guessing they want you to still buy the drug and with them eating a small part of the co-pay you have to pay still gets them the money they would have been happy to get from GoodRx if you were paying cash anyway. Especially when there are similar drugs that are generic out there.

So when you get a big bill at the pharmacy don’t immediately go into panic mode and give up, Do some research and you may find a solution that saves you some money.

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1 Comment

  1. May 3, 2024 / 7:51 am

    I have been surprised a few times when I admitted to the doctors that I simply couldn’t afford to pay for the prescriptions they were writing. They receive lots of samples from pharmaceutical companies that they will often pass on to patients. I also always ask for any generic versions.

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