7 Easy Ways To Save Money on Prescriptions—Get Discounts up to 80%!
A prescription discount program may offer an even better price than your insurance
Nearly one in five U.S. adults between age 40 and 79 used at least five prescription medications in the past 30 days, according to a 2019 report by the Centers for Disease Control and Prevention. And the costs of all of those prescriptions add up. As a result, some people end up skipping doses, not filling prescriptions or lowering their dosage to try to cut costs. To make sure you’re getting the medication you need at a price you can afford, we’ve rounded up six easy ways to save money on prescriptions. Read on to find out how to start saving.
How to save money on prescriptions
Tired of all those medication costs piling up? Experts share their easy tips for saving on prescriptions.
Switch to generic medications
One of the easiest ways to save money on meds is to ask your doctor about switching to generic drugs instead of name-brand medications. “Generic prescription drugs contain the same active ingredients and work the same way as brand-name drugs and are usually more affordable,” says Jennifer Bourgeois, PharmD, health expert and pharmacist at SingleCare Pharmacy. “Ask your pharmacist if a generic version is available for your prescription, as this can save you a significant amount.”
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Join a prescription savings program
“Many manufacturers offer savings programs for people without insurance and copay savings cards for people with prescription coverage,” says Cindy George, MPH, senior personal finance editor at GoodRx.
A prescription savings program offers generics at even lower prices. Some programs are free to join, such as Walmart’s Prescription Program, which makes dozens of drugs available for only $4 for a 30-day supply and $10 for a 90-day supply. “For ongoing prescriptions, purchasing a 90-day supply instead of a 30-day supply can reduce costs per dose,” notes Bourgeois. (more on that below)
Some programs charge an annual fee but offer a wider range of medications for even less. For example, Kroger’s Rx Savings Club ($36 per person or $72 a year for up to six family members, including pets) offers more than 60 generic medications for $3 per 30-day supply and $6 per 90-day supply. It can be used at any Kroger-affiliated pharmacy, such as Fred Meyer and Ralphs. It’s worth checking if your pharmacy is still running a program since Walgreens Prescriptions Savings Club, for example, has ended.
Buy medication in bulk
Some insurers and pharmacies offer discounts for bulk prescriptions, such as a 90-day supply over a 30-day supply. Bourgeois also recommends looking for bulk or combo packs of over-the-counter medications.
Many stores sell larger or combo packs of popular medicines like ibuprofen or cold medicine, which can be cheaper per dose. “Buying in bulk can be especially useful if you use something frequently, like pain relievers or allergy medications,” adds Bourgeois.
Try prescription discount services
Exploring the option of prescription discount services, like SingleCare or GoodRx, can help decrease your overall out-of-pocket expenses. “Regardless of your insurance status, GoodRx coupons may help you save up to 80 percent on your prescription medications at more than 70,000 pharmacies nationwide,” says George. “It’s worth comparing the price of your medication through GoodRx versus your insurance because—in many cases—you get a better price with a GoodRx coupon.”
Often, these outlets offer discount cards, comparable retail prices and consultations with doctors to ensure you’re getting the right medications.
Review network pharmacies
Your insurance plan can also help cut prescription drug costs. Still, you must check the network of pharmacies associated with your insurance plan and the formulary—the list of prescription medications covered by your health insurance plan—to see if your medications are included.
Bourgeois shares that using an in-network pharmacy can result in lower out-of-pocket costs. “Confirm that your preferred pharmacy is part of the plan’s network and consider the convenience and accessibility of these locations.”
Look into patient assistance programs (PAP)
Taking an expensive brand-name medication? “Many pharmaceutical companies offer assistance programs for individuals who cannot afford their medications,” says Bourgeois. All you need to do is check the manufacturer’s website or ask your healthcare provider if you qualify.
Some drug companies, like AstraZeneca (AZandMeApp.com) and Teva (TevaCares.org), pay the entire bill for certain meds, depending on what you need. Others pay most of the cost, such as Eli Lilly, which has a $35-per-month program for insulin regardless of your insurance status (InsulinAffordability.com).
Use a mail-order pharmacy
Also known as an online pharmacy, these operate through the internet and deliver medications directly to your home by mail. “Many mail-order pharmacies have specific contracts with insurance plans that enable lower costs for consumers, often with reduced copays for longer, 90-day supplies compared to what might be available at local pharmacies,” says Bourgeois.
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