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5 Hacks to Save on Your Prescription Meds

Update Date: Jul 17, 2020 12:10 AM EDT
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5 Hacks to Save on Your Prescription Meds
(Photo : 5 Hacks to Save on Your Prescription Meds)

Prescription medicine can be very expensive! In the U.S, it is estimated that an average person spends about $1200 every year on medication. According to various researches, a significant portion of adults doesn't take medicine as prescribed to reduce cost. 

Others skip doses, split drugs, go for over-the-counter drugs, or avoid their prescriptions at all. If you are in such a situation, you must learn some of the hacks to save on your prescription medications. Let us give you a few tips to help you save more.

1. Ask why the drug is expensive.

Sometimes it is essential to understand why your prescription medication is sold expensively. This will give an insight into the genesis of the higher cost and consequently help you in making a decision. Most of the drug providers may not have sufficient knowledge regarding drug pricing. However, pharmacists may help you get a clear picture of this and ways to save. 

Tip: There are also options that can help you save more as you buy prescription drugs. One of the best ways is to use a Prescription Savings Card when purchasing drugs. You can save up to 80% on drugs using cards, coupons, and manufacturer discounts, among others. 

2. Try Various Stores

The cost of prescription medicines varies across different outlets. One of the best ways to save is to research the prices of various outlets. Other stores will offer unique purchase options like coupons and prescription discounts. Try to dig deep to understand whether you qualify for these offers and that the businesses behind the coupons are concerned with customer's privacy. Also, check the requirements to access other programs like the Manufacturer savings program and free trial programs. By navigating to the brand's website, you can access invaluable information about these options. 

3. Choose your Insurance Wisely

Before choosing your insurance provider, you must get all the relevant details regarding your provider. It doesn't matter whether it is state-funded or a federal insurance program. Try to understand the monthly premium, deductible amount, and specific plan details. Other insurance providers cover specific medication brands, pharmacists, or order services. Also, check out the pricing structure under circumstances of different drugs treating the same disease. Generally speaking, select the insurance cover that allows you to cover your medications at an affordable price. 

4. Consider Generics

If the original drug is hurting you financially, you can try out the generic versions of the same drug. Generic drugs are less costly because the manufacturers don't incur money for research and development of the medicine. They use the existing formula to produce an equivalent drug legally. However, these drugs may not be so identical, and the brand-name medication is always much favored. Before switching to generics, please consult with your doctor to avert any possible risks like the side effects. 

5. Speak with your Doctor

It has been found that few people talk to their doctors about buying drugs. Well, it is important to ask your doctor about some aspects of medication such as brands, cheaper substitution, terminating drugs, and non-drug options to your problem. You can also inquire about the cost of not sticking to prescriptions so that you get an understanding of the consequences.  

Final remarks

There are lots of hacks to save on your prescription medication. We have covered some of the great options in lowering your prescription cost. Try them out, but always beware of fake drugs and deals in the market. 

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