5 Ways to Lower Your Prescription Drug Costs

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If you’re sick of the high cost of prescription drugs, you’re not alone. Find out which strategies could help you spend less on prescription medications. [[{“value”:”

If you’re feeling the strain of high prescription drug costs, you’re not alone. High healthcare and medication costs impact the wallets of many Americans. Even with a good health insurance policy, medication can be expensive.

If you’re feeling financial strain at the pharmacy checkout line, it may be time to take extra steps to lower your prescription drug costs. You may be spending more than necessary. Here are a few solutions to help you keep more money in your pocket.

1. Compare drug prices with GoodRx

Some medications are pricier than others. If you require a pricey medication for your health, you should check to see if you can use GoodRx to save money. GoodRx is a website and mobile app many people use to save on drug costs. You can use this free resource to compare drug prices at pharmacies in your area to find the cheapest place to fill your prescription.

GoodRx also has digital coupons for many popular drugs. Americans can get a lower price for some medications with a GoodRx coupon instead of using their health insurance. You can use GoodRx at most pharmacies nationwide, so make sure you’re not overpaying for your drugs.

Whether a GoodRx coupon is available or not, using this tool to find the best drug prices in your local community is worthwhile. Getting your medication filled at a different pharmacy could help you keep more money in the bank. Every dollar you save adds up and makes a difference.

2. Ask about other alternatives

It may be worthwhile to ask your medical provider whether other medications could work for your health needs. Some prescription drugs are cheaper than others. Your provider may suggest trying a different brand or switching to a generic drug to lower your prescription costs.

3. Get your prescriptions filled at a warehouse club

Many Americans invest in warehouse club memberships to save money on groceries and household goods. While you need a membership to buy everyday essentials at retailers like Costco, you don’t need a membership to use the pharmacy.

You can pick up your prescription drugs at Costco or Sam’s Club without paying a yearly membership fee. If you have warehouse clubs near your home, you may want to see if you can save money by filling your medications there instead of at your go-to pharmacy.

4. Explore patient assistance programs

Some drug manufacturers have patient assistance programs available. If your medication costs are getting out of control, check to see if any assistance programs are available. You’ll likely need to apply for assistance and meet income requirements to qualify for help. But this solution could help you save money on prescription drug costs. Don’t be afraid to explore this option.

5. Ask for a 90-day supply

Many people get their medications refilled every month. However, some medications can be ordered in bulk, and you may get a better price when you do this. Check to see if your medical provider will prescribe a 90-day supply and whether doing this could help you save some cash. This solution may not work for some medications, like controlled substances.

Get creative to find ways to save on medication costs

Unfortunately, consumers have little control over the cost of medical care and medications in the United States. But we can make strategic moves to keep our prescription drug spending in check. The above suggestions may help you lower your monthly medication spending. For additional ways to save money, check out our personal finance resources.

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The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Natasha Gabrielle has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Costco Wholesale. The Motley Fool has a disclosure policy.

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