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Medication is something you often can’t skimp on. Read on for ways to save on it.
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When it comes to personal financial matters, you may believe in cutting costs whenever possible. As such, you might opt to do the bulk of your eating at home rather than pay a premium for restaurant meals and takeout. And you might choose to live in a smaller apartment rather than spring for a larger one that costs more in rent.
But if there’s one expense you might feel like you don’t have much control over, it’s medication. You need your medications to stay healthy, but you don’t necessarily get to choose which ones you take. For example, if your thyroid doesn’t function properly, you may need thyroid medication to avoid issues like extreme fatigue.
Still, there are steps you can take to lower your medication-related spending. Here’s how to free up money to save in the process.
1. Switch to generics
Many of the drugs people take routinely come in generic form. If you’re not currently taking the generic version of the medication you’re on, ask your medical provider if it’s possible to switch. WebMD says that generic drugs can cost up to 85% less than brand-name alternatives.
2. Get your pills in bulk
There are certain medications you might take for a limited period and others you might take on a long-term basis. For those in the latter category, see if your insurance allows you to order your pills in bulk through a mail-order pharmacy. You may be able to save money by getting 90-day supplies instead of 30-day supplies.
3. Ask your provider for free samples
It’s not uncommon for pharmaceutical company representatives to give free samples of their drugs to doctors. If you’re looking at an expensive medication, before you head to the pharmacy to fill a prescription, ask your provider if they have any samples lying around. Getting even a few free doses could shave a lot off of your costs.
4. Get your free yearly physical to make sure you actually need all the pills you’re taking
Most health insurance plans give enrollees an annual physical at no cost. During your physical, you can expect your doctor to examine you and run bloodwork. It pays to take advantage of this option, because your bloodwork may reveal that there’s a medication you’re on that you no longer need. And shedding a prescription could mean saving big time.
5. Look for discount programs online
Filling your prescriptions at your local pharmacy isn’t always the most cost-effective bet. And if you don’t have insurance — or don’t have very good insurance — it might even be cost-prohibitive. It pays to look at online pharmacy programs and see what the costs there entail.
Amazon’s pharmacy program, for example, allows Prime members to save up to 80% on the drugs they take. Amazon also has a program called RxPass that allows you to fill as many eligible prescriptions as you need for just $5 a month.
Medication is not the sort of thing you want to skimp on. But it is the sort of expense that can wreak havoc on your budget. If you employ these tips, you might manage to lower your costs and spend less on staying healthy this year.
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