Written and medically reviewed by Dorcas Morak, Pharm.D
Prescriptions can be a significant expense, especially in the U.S., where medication costs are higher than in any other industrialized nation. According to the Kaiser Family Foundation, a quarter of adults report difficulty affording their prescriptions. Whether you are struggling with the cost or just looking to save more money, here are ten practical tips to help reduce your prescription medication expenses.
1. Compare Prices
Compare prescription prices across different pharmacies like you would for flights or clothes. Prices can vary a lot. Instead of visiting multiple pharmacies, use online tools like rxless.com or by downloading its app. When you search for EpiPen on the RxLess® website, you will see that Walgreens offers it for $266.67, while CVS offers it for $172.58. This gives you all the information you need in just one search.
2. Use a Prescription Savings Card or Coupon
Prescription discount cards and coupons found on RxLess® can save up to 88% on medication costs. They are free, easy to use, and secure. Search for your medication on the free RxLess® app or website, choose the lowest-cost pharmacy in your area, and show the coupon or card to the pharmacy. Whether insured or uninsured, RxLess® may offer better savings than your insurance. For brand-name medications like Lexapro or generics like Acetaminophen, RxLess® is your go-to option for saving on prescriptions.
3. Look for Manufacturer Coupons
Brand-name drugs, especially new ones, can be expensive. However, manufacturer coupons are available for some medications, offering substantial savings if you qualify. Visit the specific medication website for more details about the savings and how to qualify. Retail pharmacies also provide coupons to attract new customers, occasionally offering in-store gift cards for initial prescription fills. RxLess provides free drug coupons that anyone can use, regardless of insurance or income level.
4. Apply for Prescription Assistance
Prescription assistance programs (PAPs) help individuals who struggle to afford their medications. They are offered by drug manufacturers, governments, and nonprofits and often require proof of financial need or insurance denial. For those on Medicare this site may be a great resource.
5. Ask for the Generic
Generic drugs have the same active ingredients as brand-name drugs and work just as well, but they cost much less. Brand-name drugs are pricier because of the high expenses of development and marketing. When the patent expires, generic versions can be made, which lowers prices through competition. For instance, the brand Lexapro can cost more than $400 for a supply of 100mg, but its generic counterpart can save you about 95% of the cost at RxLess. Always check with your doctor if a generic version of your prescription is available.
6. Try a Different Medication
Some medications are more expensive than others for the same condition. If cost is an issue, ask your doctor about trying a less expensive prescription.
7. Find Out if You Need That Medication
Review your medications with your healthcare provider to see if they are still necessary. Lifestyle changes might eliminate the need for some prescriptions. Regular check-ins with your doctor can ensure you're not paying for unnecessary medications.
8. Request a 90-Day Supply
Order a 90-day supply of long-term medications instead of refilling every 30 days. This can reduce your total copay and add convenience. A University of Chicago study found that buying medications in bulk can cut costs by up to 29%.
