HOW TO SAVE MONEY ON PRESCRIPTION MEDICATION

Hi friends, welcome back to my blog. Medication is expensive. Healthcare cost is astronomical. I have been a pharmacist for about eight years now, and I can tell you that one of the major roadblocks for the patient to get better is medication cost. Let’s discuss a few different methods for an ordinary patient like our parents saving a few bucks on prescription medication.

Sign up for home delivery

Many pharmacies, such as Rite Aid or Walgreens, offer medication home delivery at free cost. The driver will call you to set up the date and time. One requirement I often see is that the patients are usually required to be home to accept the medication delivery. The pharmacy wants to ensure the medication makes it to the right destination. You can always make special delivery instructions, and I am sure the pharmacy will follow. This method saves patients money and time because the patient doesn’t have to drive to the pharmacy, especially when gas is up to six dollars per gallon.

Opt for a 90-days supplies

Certain insurance such as Express Script lower the patientco-pay if patient sign up for this program. A 90-days supplies benefit both insurance and the patient because patient less likely to run out of medication and patient’s compliance score also increases.

A limitation of the program is that it mainly targets generic medications and only works for maintenance medication such as blood pressure or diabetic meds. Suppose you are on a medication that requires adjustment weekly or monthly such as an antidepressant or antipsychotic medication. In that case, you need to see a doctor on a more regular basis to evaluate your progress.

Stick to preferred pharmacies

Your insurance lets you know what in-network pharmacy you can go to. Big retail pharmacy chains such as Walgreens or CVS accept any kind of insurance, so you can’t go wrong there. Don’t forget little mom-and-pop or private-own pharmacies too. These pharmacies often provide better customer service because they know that they have to compete with big pharmacy chains. Sticking with the same pharmacy saves money because you know they are in your insurance network.

Discount or coupons

Drug manufacturers often promote medication by providing a discount. Yes, these programs do exist, and you should take advantage of it. You can find these coupons on the drug manufacture websites, at the doctor’s office, or ask your retail pharmacist. Make sure to look for the date when the discount ends because I have seen a patient who had to pay a larger co-pay or were stuck with the medication because they didn’t know to alert their doctor.

Use your FSA, HSA, or HRA

Take advantage of a healthcare flexible spending account (FSA) or health savings account (HSA) to pay for your prescriptions. Your employers offer these accounts, and you have to sign up at the annual enrollment. Like 401k, you can put the money into it before taxes and use these tax-free dollars to pay for any healthcare-related expenses. These accounts will reimburse you the funds if you pay out of your pocket, so keep all receipts.

There is another account called health reimbursement arrangement (HRA). The funds come from your employer, who will also decide which expenses are eligible for reimbursement.

Go generic

Last but not least, this is the most effective way to save money. When your doctor writes a prescription, make sure you ask for the available generics because the co-pay will be much cheaper. If one particular generic isn’t available, you can request the doctor to find an alternative generic medication. Most physicians know that cost is the patient’s number one concern, but a few will want their patients to try a brand new drug on the market.

Thanks for reading. My goal is SIMPLE: to provide you with helpful information that you can share with your friends and family. If you like this blog, make sure to hit the “SHARE” button and “COMMENT” below “I Like It”.

Resources:

Express Scripts Pharmacy. Six simple ways to save money on prescription medication. Retrieved from https://www.express-scripts.com/pharmacy/blog/six-simple-ways-save-money-prescriptions