How To Save On Prescriptions

9/19/2008

Nine Ways to Save Money on Your Prescriptions

You may have to do a little homework, but you can talk to your doctor, shop around, and find bargains on prescription drugs.

1.     Necessity of prescription…talk to your doctor and see if over-the counter medications will be as effective as the prescribed drug.   

2.     Drug options...if the prescription is necessary, find out if there is a generic version that might work for you.  Check websites such as Rxaminer.  They will help you find alternatives to brand name drugs.  The average brand name drug is $ 100 versus $ 30 for generics.

3.     Talk to your doctor…ask for free samples from your doctor…if there is no generic available, see if your doctor will supply you with free samples of the prescription that he has written for you.  Pill splitting can save you money as higher doses do not usually cost substantially more.  You can buy a higher dose pill and split it to save money.

4.     Shop around…spend some time on the Internet and on the telephone to save $$$.  Call different pharmacies to check prices when you are prescribed new medication.  Look for coupons and rebate forms on the websites from the drug manufacturer.  

5.     Take full advantage of the drug price war….K-Mart , Wal-Mart, Target, and others offer many generic prescriptions for $ 4.00 per month. 

6.     Use workplace Flexible Spending Plans…many employers allow you to set aside pre-tax dollars for health care and medications.  Every $ 1,000 you contribute to your plan saves you $ 250 in taxes (assuming that you are in a 25% tax bracket). 

7.     Buy online…don’t buy from an online pharmacy if they don’t require a prescription.  Use a site that carries the Nation Association  of Boards of Pharmacy’s Verified Internet Pharmacy Practice Sites (VIPPS)…don’t take the pharmacy’s word that they are approved…check it out to make certain that their certification is real. 

8.     Discounts…use drug discount cards.  Check out RxAssist and PS Card before purchasing a drug card.  Merck and Pfizer offer free cards that have discounts up to 40% on brand name drugs.   Some eligibility factors apply.

9.     Prescription assistance…if you meet income eligibility, then you may qualify for state or federal assistance.  Websites to check are Insure Oklahoma, Department of Human Services and Partnership for Prescription Assistance. 

Contact John Krogh as AASK Insurance for more assistance.