For most of us, rising drug prices are such a headache. But experts somehow help you to keep control on prices with prescriptions. Every month, at least half of the residents in the US are taking one prescription drug, as reported by the Centers for Disease Control & Prevention. Almost one in every 5 people, aged 55 to 64 years, takes 5 or more prescription drugs.
So, it’s no surprise we invested around $271 billion on prescription drugs in 2013, according to CDC. It is almost double the amount spent in the year 2000. Most of the amount was spent at medical stores, according to Kaiser Family Foundation. Hence, it’s time to start saving.
The CDC estimates around 1 in 10 person didn’t take prescription medicine, only 2 in 100 people bought drugs prescribed from another country, 1 in 7 asked for cheap medicines, and around 5 in 100 people asked for alternative options. But there are still better options to save more on prescription drugs. Consumer Reports suggest that you must try the following steps instead.
- Visit Local Independent Pharmacies – Consumer Reports had some great choices at the nearest independent drug stores where pharmacies can get a lot flexibility to beat or match the prices of competitors. There are lots of fluctuations in supermarkets where you may not be able to save.
- No More Chain Drug Stores – Some of the large-scale pharmacy chains consistently charge high on the most popular drugs. Only a few walk-in stores in the US which charge the lowest.
- Don’t Use Health Insurance Always – Most of the big-box stores and chain stores provide hundreds of generic drugs at just $3 to $4 for 30 days and around $10 for 90 days. They are offered for those who are about to pay off the pocket. Hence, there is no need to use your health insurance all the time.
- Always Confirm Lowest Price – A large scale drug store chain Costco reveals that its contracts restrict pharmacies from providing better cash price for Medicare Part D plans to the customers unless they ask. According to Rite Aid, their pharmacies match their prescriptions with insurance unless buyers ask them to do otherwise. By asking for the lowest price, you can find a new way to any discount plan, coupons and cards, available.
- Get a Long-Term Prescription – If you seek prescription drugs for 90 days, it can be a lot cheaper and convenient. For instance, you can pay one co-pay instead of 3 by using insurance. On generic drug programs, you can save more by paying $10 for 90-day prescription than paying $4 per month.
- Search Online – If you are running out of budget, you may visit some price comparison sites and know the fair price of your desired medication and use it to negotiate if you are quoted with a higher price by a pharmacist. You can also get prescription drugs from online pharmacy. You have to be careful on choosing drug for you. Choose only those online retailers which show VIPPS (Verified Internet Pharmacy Practice Site) symbol and which operates within the US.
As well, you can purchase prescription drugs from online pharmacies located in Canada. Due to the exchange rate, getting your prescriptions filled from Canada can be very favorable now.