Four Ways to Save on Prescription Drug Costs
Prescription drugs can cost an arm and a leg, even if you have insurance. Here are four simple tips for finding the best prices for the drugs you need.
This video from Consumer Reports YouTube shows that saving on prescription drugs is easier than you might think. And it all starts with a statement. Here are some basic tips:
- Always ask your doctor if there are generics in the first place. Generics are much cheaper and usually just as effective.
- If your insurance does not cover the drug you have been prescribed, ask your doctor to request an exemption. If your request is denied, file an appeal. If this is denied, contact your state insurance regulator.
- Not all pharmacies are the same. Shop at places with the best deals, such as Costco’s Drug Discount Program , local independent pharmacies, and certified online pharmacies.
- Call the lowest rates and then ask if there is a way to save even more. You can save by buying in bulk, joining a membership program, or using coupons that you can get online. You will never know until you ask.
Finally, Consumer Reports recommends asking Congress about high drug costs. They can pressure pharmaceutical companies to lower prices or pass laws to limit your personal expenses.