HOW TO SAVE MONEY AT THE PHARMACY

It’s not unusual to spend quite a bit of money on prescriptions at the pharmacy. Even with insurance, the copays can be sometimes be quite high. Here are a couple of tricks for saving you money the next time you pick up your medication.

1. Use a coupon: Many manufacturers offer coupons for their medications which can offer huge discounts. The next time you are prescribed a medication, ask your doctor if they have a coupon. If they do not have one, check online with the drug manufacturer. By doing a little research, you can save significantly on your purchase.

2. Many drugs have less expensive alternatives: It’s important to be familiar with your insurance’s drug formulary. These are drugs that are preferred by your insurance company. Within a class of drugs there are usually multiple different options that your doctor can prescribe. But there is only one or two that are preferred by your insurance company at a lower co-pay. So if your doctor does not write for one of those two drugs, you are going to pay more out of pocket. It’s important to pay attention to your insurance formulary and ask your doctor to write for the preferred drug within the class to lower your cost if it is appropriate.

3. Medicare Part D prescription co-pays vary by pharmacy: Many people do not know that Medicare does have a preferred pharmacy provider. At these preferred providers, you will pay a lower co-pay amount than if you went to just any pharmacy chosen at random or due to convenience.

By using these tips and tricks, hopefully your next trip to the pharmacy won’t break the bank.
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