Practical Tips to help you be a smarter health care consumer and reduce your prescription drug costs
Many people require prescription medication to function at their best. Yet, prescriptions can be expensive, both with insurance and when a person pays out of pocket. Here are some tips to help keep your drug costs down:
- Understand the details of your plan’s coverage – Review and make sure you understand the basics of your plan. Deductible? Co-pays? Out-of-pocket maximums?
- Use generic drugs – same medications as Brand Name medications at a much lower cost.
- Speak openly with your doctors about the cost – When doctors prescribe a medication, they may have several options to choose from, but they don’t necessarily know which ones are covered in your plan or how much each option will cost.
- Consider using mail order – Most insurance companies will offer a discount on the medications if you order using their mail order pharmacy.
- Choose less expensive altematives – Some medications can cost a lot. There may be an alternative medication that performs a similar function, but costs less.
- Make your pharmacist a member of your team – Pharmacists may suggest a cost-reducing option. Taking a few minutes to talk with your pharmacists could potentially save thousands.
- Look at GoodRx to see if it makes sense to use that instead of running through your insurance plan.