Paying TOO Much for Your Medication?
Updated: Jan 13, 2021
5 WAYS TO LOWER DRUG COST
In 2018 the Centers of Medicare and Medicaid Services estimated the prescription drug expenditure at $335 billion! If you feel your drug costs are high, check out some advice from our pharmacists below.
1. Use a pharmacy that's in network.
Check with your insurance and use a preferred pharmacy or pharmacy that is in-network. This means the pharmacy has contracted with your insurance to provide covered medications. You'll pay more for your prescription drugs if you go to an out-of-network pharmacy.
2. Brand is not always better.
Some brands may be "me-toos" on the market, meaning there are other medications that they are similar to in therapeutic class and pharmacology. Some of these other medications may be generic. A valuable resource is your pharmacist. Check with your local pharmacist for alternatives.
3. Work with an independent pharmacy or pharmacist who has the time to help you find alternatives or resources.
Pharmacists are accessible healthcare professionals who have a wealth of knowledge about medications. They can provide information and make recommendations to take back to your physician. See our friendly pharmacists
4. Look for manufacturer coupons.
Coupons directly from the manufacturer's website are useful. Some may require some patient demographic information or activation of coupon. On the whole, they work well with commercial insurances and reduce copays. Most have clauses stating they may not be used to obtain prescription drugs paid for by Federal or State Healthcare Programs including Medicare Part D. However, our pharmacists still encourage looking at these and do not rule out manufacturer coupons since occasionally some offer a free month of medications or other perks.
5. Apply for grants. Check into foundations.
For some disease states, there are medication copay assistance. One resource our pharmacists like to check is www.panfoundation.org. Other types of funding such as grants may require an application with income and household information to determine eligibility. See our pharmacist for details.