Prescription drugs to save money on.

Save Money On Prescription Drugs

If you regularly take a prescription drug, you probably know how expensive they can be. It is not uncommon for people to find themselves paying hundreds of dollars a month for their scripts, even with insurance. Like every other expense that you have though, there are ways to save on the cost. Here are 5 simple ways to start saving on your scripts.

Cutting costs on those prescription drugs might not be as hard as you think. Take a look at some sure ways to reduce your costs right now. Potentially turn your 400 dollar a month drug bill into a 40 dollar one.

1) Switch To Generics

This one should be a given, but there are so many people that are just hung up on buying the name brands. The truth is that generics are just as effective as the name brand and cost a fraction of the price.

So, why are generics so cheap if they do the same job as the name brand drug? With a generic drug, you are paying for what the drug costs to make, plus a small profit for the manufacturer. With the name brand, you are paying for what the drug costs to make, plus the research costs to create it, the advertising costs to promote it and the huge profit demanded by drug creators. This can add up significantly, especially since most drug companies demand a huge profit margin and typically get it.

Cut your costs by realizing that generics are just as good as the name brand in almost every case.

2) Choose Your Pharmacy Carefully

Not all pharmacies are created equally. To take your generic savings even further, many stores offer discounts on some of the most common ones used.

Stores like Walmart allow you to buy these drugs for just a few dollars a script, even if you have no insurance. You can also get some drugs for free if you have a Walmart+ account. Currently Amlodipine, Cephalexin, Metoformin IR, Lexapro, Lisinopril and Bactrim are on that list.

3) Download A Discount Drug App

Want to save money on even name brand drugs? There is an app for that. The biggest app on the market would be GoodRX and it allows you to search for your drug and find the closest store selling it for the lowest price.

They also have coupons that you can apply that can make drugs cost even less than they do with insurance. Just keep in mind that any money that you spend on drugs through the app will not go towards your insurance deductible. If you have insurance, you have to weigh this fact against the cost savings, but if you do not have insurance, the app is a sure winner.

4) Adjust The Prescription Quantity

You might be surprised at just how negligible the difference is between a 30 day prescription and a 60 day one. A drug that costs 50 dollars for a months supply might cost only 60 dollars for a two month supply. It is just another pricing game in the world of high dollar drugs.

But how do you find out if this i the case with your drugs? You use an app like the one above from GoodRX. Enter in the drug you are taking and play with the quantities to get the lowest per unit cost. Scripts can not be changed by you however. If you find savings, you then have to take it one step further and contact your doctor to see if your prescription can be changed. Most doctors are aware of the high cost of drugs and will work with you if they can, especially if this is a drug you take long term.

5) Get In Shape

How can getting in shape help you save money on drugs? Simple, it can do so by getting you off the drugs in the first place.

Many drugs such as those for Type 2 diabetes and cholesterol can be phased out or even eliminated by a healthy lifestyle and diet. Losing as little as 10 pounds could trigger health benefits that allow your doctor to change your medications.

Changing your lifestyle to be healthier and lose weight is not easy, but if you take it step by step it can be done. You just need motivation, and thinking about the money you need to pay for the expensive drugs you take each month might be that motivation.

To Sum It Up

Prescription drugs sill always be expensive. It is a high profit industry that shows no signs of changing, which just means that you have to be smart. Look for the savings and take advantage of every opportunity to save money that presents itself.

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James Car is a finance, loan and budget expert based in the United States. After attending Brookhaven college, he went on to become a successful entrepreneur. He now enjoys writing articles that help people save and make the most of their money.