Prescription drugs are costly, especially if a patient has a chronic illness. Thankfully, there are several things you can do to minimize those costs, from using an insurance plan to securing prescription coupons.
The average cost of prescriptions is over $100 per month, meaning the total annual spent on medications is around $1,300 per person. This is a significant amount for many individuals who do not have insurance or whose health care plans only cover a portion of the costs.
The good news is, saving money on prescriptions is possible even without coverage. With that said, check out the money saving tips below.
1. Use Your Insurance Plan
If you have a prescription drug that you take regularly, it may be in your best interest to find out if it is covered by your insurance plan. If the medication requires prior authorization, you may need to speak with a representative from your health care provider to ensure that all of the requirements have been met.
You want to make sure you have all your questions answered before assuming that your prescriptions are covered.
2. Switch to Generic
If the drug is not covered by your insurance plan, there are several options that can help soften the blow to your wallet. Ask your pharmacist if any of the medications you’re currently taking could be switched to a generic form. These drugs work just as well as their brand-name counterparts but cost significantly less.
If you have the option to change the way in which you take a certain drug. For instance, switching from a tablet to a liquid or dissolvable form can also make it cheaper.
3. Try Prescription Coupons
You may be able to obtain prescription coupons directly from the pharmaceutical company that manufactures your medication. These often provide up to 75% off for both brand-name and generic drugs.
This is a huge help with the cost of medications. You can even try to use discounts for treatments like TriMix injections.
4. Place an Order With Countries Outside of the U.S.
If you take medication for chronic health conditions like high blood pressure, diabetes or asthma, there are some countries where you can obtain these medications at drastically reduced prices. For example, many medications are available in India for 80% less than what they cost through U.S. pharmacies. Also, the generic drugs are often 40-60% cheaper than brand names.
While it may seem daunting to take medications from another country, the FDA actually regulates these international companies and requires that they comply with certain standards and shipping and handling guidelines.
Keep in mind that it’s important to research the company thoroughly before placing an order. Plus, you should only do so from reputable sources because there are unethical people who sell counterfeit or non-FDA regulated medication that could be dangerous for your health.
Tips for Saving Money on Prescriptions
Saving money on prescriptions is essential. Medication is so expensive these days, so it’s nice to know there are ways to save money on your meds!
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