Tips for Saving Money on Prescription Drugs

Prescription drugs can be extremely pricey.  Many people spend hundreds and even thousands of dollars on such drugs every single year.  Fortunately, there are things that you can do in order to save money on these prescriptions.  The following are some strategies you might want to try.

Ask for the generic version

Many drugs have generic versions with the exact same active ingredients.  This can often save you a great deal of money.  Some insurance plans will charge you less money if you get the generic.  Of course, if you pay a percentage or the entire amount, the generic can save you tremendously.  When purchasing generics there are some things you should be aware of.  First, although they are almost always the same, there is the occasional exception such as certain thyroid medications.  In addition, not all drugs have generic versions.

Look for coupons

Some stores will actually put out coupons where you can get something such as a gift card.  For instance, Target will often give you a $10 gift card if you get a new prescription there.  These coupons can save you money.

Price compare the different stores

The different stores charge different amounts of money for the exact same medication.  You might be able to save a lot of money by going to the pharmacies that are less expensive.  Some pharmacies will even fill certain prescriptions without a co-payment.  One example is Publix Supermarkets, which gives many different antibiotics with no co-payment.  If you have the type of insurance that charges you a certain amount of dollars per prescription no matter what you get then it might not matter, but for many it will.

Make sure that you are getting all of the benefits of your prescription plan and get another if it would save you

You will want to make sure that you are getting everything that you are entitled to with your prescription benefits program.  A lot of times you can appeal if something was denied that you feel should have been approved.  Also, there are supplemental plans that might make sense for certain people.  A lot of them are scams, however, so you will want to be sure that it makes sense for you.

Prescription medications can be extremely expensive, and for many are a cost that they will constantly have.  Try the above strategies to help you save money on these important medications.