Americans shell out more than $200 billion this year for prescription drugs. This statistic is up 50 percent since 2001, according to a Kaiser Family Foundation survey. These high costs are having a big effect on consumer’s choices. One survey found 40 percent of the patients said they have skipped taking some of their medications because they couldn’t afford them.
A few ways to save on prescription drugs:
Generic is The Way to Go: Whenever you can, opt for the generic drugs. Generics drugs are on average a 1/3 of the cost of their brand-name counterparts.
Research your Insurance Plan: Review your current prescription plan coverage and the list of drugs covered by your insurance. If you are taking drug X, see whether there is a comparable, cheaper drug available.
Order Prescription Drugs Through the Mail: Many health insurance plans will allow you to order your drugs via mail. Buying in advance can sometimes be cheaper (one or three month supply).
Choose Static Co-pays: Choose a health insurance prescription drug coverage that offers a set co-pay of $10 or $15. Avoid plans that base their coverage on percentages, as they are often considerably more expensive.
Many doctors have free samples, and while that won’t hold you over for long, they can certainly spread out the cost and the trips to the pharmacy.
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