How to Save on Prescription Drugs: Generic Brands, Savings Cards, and More
Prescription drug costs can be a significant financial burden for many people. If you’re struggling to afford your medications, there are a number of ways to save money.
Generic Brands
Generic brands of prescription drugs are just as effective as brand-name drugs, but they cost significantly less. Generic brands don’t contain the same chemical as the original version of the drug but they contain the same active ingredients, and they work the same way. This is because generic brands are made after the patent on the brand-name drug expires.
Savings Cards
Many pharmaceutical companies offer savings cards that can help you save money on your prescription drugs. These cards are typically available through the drug manufacturer’s website or through your doctor’s office.
GoodRx
GoodRx is a website and app that helps you find the best prices on prescription drugs. You can search for your medication by name or by condition, and GoodRx will show you a list of prices from different pharmacies. You can then choose the pharmacy that offers the lowest price.
Ask Your Pharmacist
Your pharmacist can be a valuable resource for saving money on prescription drugs. They can help you find generic brands, savings cards, and other discounts. They can also help you understand your insurance coverage and how to use it to your advantage.
Other Tips for Saving Money on Prescription Drugs
Shop around. Don’t just fill your prescription at the first pharmacy you come to. Compare prices at different pharmacies before you make a decision.
Use a mail-order pharmacy. Mail-order pharmacies typically offer lower prices than retail pharmacies.
Ask your doctor about samples. Many doctors have samples of prescription drugs that they can give to patients.
Consider a health savings account (HSA). HSAs are tax-advantaged accounts that can be used to pay for qualified medical expenses, including prescription drugs.
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