How to Save Money on Prescription Medications and Generic Pharmaceuticals

How can I save money on my prescription medication and on generic pharmaceuticals? Who doesn’t ask this question every time they pick up their prescription at the local pharmacy or drugstore? Here are some of the latest tips on how to save money, and sometimes get drugs for free!

Difficulty: Moderately Easy

Instructions

Things You'll Need:

• Conversation with your drug prescriber
• Internet access
• Links in this article’s Reference Section
• Persistence in shopping around

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   SPEAK UP - Your drug prescriber may not be aware of your economic situation. Tell him or her if you are having trouble paying for your meds. Even if you don’t need assistance, discuss generic drugs. Generics are safe and effective and cost much less than their equivalent name-brand drugs.

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   SHOP AROUND - Just like you would for anything else you purchase, shop the prices of your local pharmacies and drugstores. Although they don’t advertise their prices, you can call the pharmacist and ask! Also check the reference section for a comparison-shopping website.

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   MEDICARE RECIPIENTS - For qualified Medicare recipients, Medicare offers an outpatient prescription drug program for those with limited income, or those with very high prescription drug costs. Medicare states that people with limited incomes who qualify for extra help will save around 95% on prescription drug costs.

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   PATIENT ASSISTANCE PROGRAMS - Two main types of assistance are available from pharmaceutical companies. Several companies offer programs that allow consumers to take a discount drug card to the pharmacy to get a discount off of the price of prescription drugs. And most major pharmaceutical companies offer Patient Assistance Programs (PAPs), which give free or low-cost medicines to people in need.

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   MAIL ORDER - Use mail order services to save money on long-term medicines.

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   FREEBIES - Meijer and Publix drugstores offer free antibiotics with a prescription from your doctor or drug prescriber. Watch for other drugstore chains in your area to follow suit!

Tips & Warnings

• Don't always reach for your medical insurance card! Some prescriptions actually cost less than your co-pay. If that's the case, just pay for the medication out of pocket.
• Regardless of if you shop at your local drugstores or on the Web, the Food and Drug Administration recommends buying only from state-licensed pharmacies that are located in the United States.
• The FDA advocates making sure that druggists are aware of all products you are taking to help avoid drug interactions. These should include prescription and nonprescription drugs, drug samples, herbals, vitamins, and other dietary supplements.
• Steer clear of drug samples – you have no way of knowing the quality of the ingredients.

Resources

• Publix Offers 7 Types Of Antibiotics For Free
• FDA: Buying Drugs Online
• FDA: Medication Safety
• Social Security Administration: Help with Prescription Drug Costs
• Medicare Prescription Drug Plan Finder
• Pharmacy Checker: Compare Prescription Drug Prices
• American Society of Health-System Pharmacists: Information on Patient Assistance Programs
• U.S. Administration on Aging: Drug Assistance Programs by State
• Needy Meds: State Programs, Discount Drug Cards and Patient Assistant Programs
• Volunteers in Health Care: Find Assistance Programs and Search Medicines and Drug Manufacturers
• Pharmaceutical Research & Manufacturers of America: PAPs
• Benefits Check: Search for Public and Private Programs
• Partnership for Prescription Assistance: Medicare Part D Coverage and PAPs
• Consumer Reports: Best Buy Drugs

[Smireles]

on 4/6/2009 Excellent article and resources. Thanks.

[smojica]

on 4/6/2009 Good info. 5*

[Upon-Request]

on 4/5/2009 Great list of prescription med resources. A friend of mine is a kidney transplant recipient and a single mom who has benefited from some of these programs.

[kittykat3]

on 4/4/2009 These are great tips to help you save money on prescription medications and generic pharmaceuticals. 5*

[Mitestarossa]

on 4/4/2009 Excellent advice for saving money on prescriptions.