13 ways to save money on prescription drugs
You might say the United States is a nation of pill poppers. Many adults take at least one prescription drug, but it's not uncommon for older people to be on five or more medications, according to the Centers for Disease Control and Prevention.
Even with insurance, drugs can be pricey. Without insurance, the cost may feel so exorbitant you may be tempted to skip or skimp on medication. Don't. There are ways to rein in the cost of prescription drugs, say our friends at Health.com, and skipping medication can be disastrous and ultimately more costly than the drugs themselves.
More from Health.com: 11 ways to save money on healthy food
Confide in your doctor
Unfortunately, with the way our healthcare system is set up, it can be tough to comparison shop - even your doctor may not know what you'll end up paying for a prescription. But that doesn't mean he or she doesn't want to help you out.
Although it can be tough to admit cost is an issue for you, your physician would probably rather you did. One in five new prescriptions that are written are never filled, which drives doctors crazy. So if there's even a small chance you may skip the script because of money trouble, it's better to say so and work on solutions together.)
More from Health.com: 11 ways to save money on healthy food
Check your formulary
Depending on your insurer's formulary (a list of medications that are covered), the copayments for two similar drugs - for example, Crestor or Zocor to treat cholesterol - may be wildly different. To avoid paying for the pricier drug, you need options.
When your doctor prescribes a new drug, ask him or her to list the top three choices, says Terry Bay, president of Senior Patient Advocates in Casper, Wyo. Check with your insurer to find out the copayment on each, and any formulary restrictions that might apply. Choose the best option and let your doctor know the drug you prefer.
"The doctors are generally very happy to have the patients involved in those decisions," Bay says.
More from Health.com: 11 ways to save money on healthy food
Shop around
Compare prices at pharmacies in your supermarket, retail stores, online, and via mail order. You can often find discounts for ordering a 30- or 90-day supply of medication. Take advantage of prescription discount programs. AARP, for example, has a program that provides discounts on FDA-approved medications that are not covered by Medicare Part D and are filled at a Walgreens retail and mail service pharmacy.)
If you order prescription drugs online, make sure the site is VIPPS-certified, which you can check here.
Try to order all your drugs at the same pharmacy, however, so they can keep track of potentially risky drug-to-drug interactions, says Nora Dowd Eisenhower, director of the National Center for Benefits Outreach and Enrollment at the National Council on Aging in Washington, D.C.
More from Health.com: 11 ways to save money on healthy food
Ask for samples
Before you fork over the cost of a month's supply of a drug, you want to know if you can tolerate it, Bay says. If it's a brand-name drug, your doctor will likely have samples. Ask for 10 to 14 days worth so you can try it before you fill the prescription, she says.
More from Health.com: 11 ways to save money on healthy food
Use coupons
Flip through magazines or go online to find coupons for the drugs you're taking. A couple good coupon sites are Optimizerx.com and InternetDrugCoupons.com. Manufacturers often will offer a free 30-day trial or a coupon for a discount on the purchase of the drug.
More from Health.com: 11 ways to save money on healthy food
Inquire about generics
"Ask your doctor if there's a generic medication that can be provided instead of a brand-name product," says Jeffrey A. Falk, RN, owner of Senior Health Care Solutions, in Plattekill, N.Y.
The cost of a generic drug is 80 percent to 85 percent lower, on average, than brand-name products, according to the U.S. Food and Drug Administration.
More from Health.com: 11 ways to save money on healthy food
Divide and conquer
Not all medicines double in price with double doses. "One of the things that some of our older clients have done [to save money] is they ask their doctor for a double-strength prescription and then they take half a pill," says Derek J. Fitteron, founder and CEO of Medical Cost Advocate in Wyckoff, N.J. That way, they save money but still get the benefit of the drug.
More from Health.com: 11 ways to save money on healthy food
Lose the spare tire
Obesity drives up medical costs, and much of the extra expense is prescription drugs used to treat chronic conditions such as high blood pressure and diabetes. But you can do something about it. Even a modest weight loss - say 5 percent to 10 percent of total body weight - could pack a huge payoff.
You'll see improvements in blood pressure, blood sugar, and cholesterol, and when your health improves, you may be able to cut back on medications.
More from Health.com: 11 ways to save money on healthy food
Use preventive care
Seniors can take advantage of the one-time "Welcome to Medicare" visit, yearly wellness visits, and free health screenings to catch medical conditions early, when they are most treatable.
This may reduce the chance that you'll need to take multiple prescription medications down the road.
More from Health.com: 11 ways to save money on healthy food
Review your Part D plan
It may sound like a hassle - and it can be. But reviewing your Medicare Part D plan options every year during the Medicare open-enrollment period can save a bundle. (This period starts around the middle of October and ends around the middle of December.)
Bay advises clients to compare plans based on total cost. Factor in the cost of drugs in each plan. "Don't shop by premium and deductible," she says. Over the past thee years, Bay's clients saved, on average, $1,500 to $1,600 each year by reviewing and switching Part D plans.
More from Health.com: 11 ways to save money on healthy food
Get Extra Help
Medicare beneficiaries with limited income and resources may qualify for Extra Help, a government program that helps seniors with costs of a Medicare prescription-drug plan, including monthly premiums, annual deductibles, and prescription co-payments.
Extra Help is worth roughly $4,000 per year.
More from Health.com: 11 ways to save money on healthy food
Tap state subsidy programs
Drowning in out-of-pocket costs? Many states have pharmaceutical assistance programs to help low-income seniors pay for gaps in coverage and cost-sharing not covered by Medicare Part D. To check what's available in your state, check out the Medicare site.
If your state has a program, "it can significantly cut the cost of your medication," says Eisenhower, of the National Council on Aging.
More from Health.com: 11 ways to save money on healthy food
Go to the source
Don't give up hope if you can't afford the drug your doctor prescribed. Even if you don't qualify for state or federal discount programs - or if coupons aren't cutting it - you may still be eligible to receive a drug for free or at minimal cost.
Many pharmaceutical manufacturers have so-called patient-assistance programs to help uninsured and low-income individuals. To search by drug name or drug company, check out Rx Assist, a patient-assistance program established with a grant from the Robert Wood Johnson Foundation in 1999.
More from Health.com: 11 ways to save money on healthy food