5 Ways to Save on Prescription Drug Costs

As healthcare costs rise, fewer people are able to afford the cost of prescription drugs. In fact, a study by the Kaiser Family Foundation found that 29% of people have gone without prescription drugs in the past two years because of cost.

Learning to keep prescription drug costs low can help you get the drugs you need at an affordable price.

Tip #1: Shop Around

When you buy a television or computer, you shop around for the best price, so why not do the same with prescription drugs? The price of a prescription can vary widely between pharmacies, sometimes as much as 400%! Taking a few minutes to call around and compare prices from multiple pharmacies could save you a bundle on prescription drug costs.

Tip #2: Ask Your Doctor About Generic Drugs

If prescription drug costs are putting a squeeze on your pocketbook, ask your doctor is generic drugs are right for you. Generic drugs can save as much as 80% when compared to brand-name drugs, and work to serve the same purpose. Generics must pass the same Food and Drug Administration (FDA) testing as their brand-name counterparts, so they're safe. If generics aren't available, ask your doctor if a more affordable drug may be a viable alternative.

Tip #3: Order Online

In the internet age, the local pharmacy isn't the only game in town. Shopping around for prescriptions on the web can save you time and money. Some online pharmacies allow consumers to order a three-month supply of prescription drugs for up to 30% less than retail pharmacy costs. And best of all, most sites will ship your items directly to your home, helping you save money on fuel costs too.

When shopping online, make sure the pharmacy is legitimate and U.S.-based. Pharmacies sanctioned by the National Association of Boards of Pharmacy are generally a safe bet.

Tip #4: Take Advantage of Assistance Programs

If you can't afford your prescription drug costs, assistance may be available through a number of reduced-cost or cost-free programs. Ask your doctor or pharmacist about programs for which you may qualify. Checking with the Partnership for Prescription Assistance (www.pparx.org) is a good place to start.

Tip #5: Invest in a Health Insurance Policy

If you can't afford the full cost of your medications, why not consider purchasing health insurance? Instead of paying the full cost for your prescription drugs, most health insurance policies cover a portion of the cost and only a co-pay. Health insurance can also help cover the cost of doctor's visits, lab tests and other medical work.

Why struggle with high prescription drug costs when you don't have to? We've made it easy to shop and compare health insurance quotes from top companies.