Clever Money Saving Tips for Medications

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7 Clever Money Saving Tips for Pharmaceuticals

  • RETAIL PRICE: Ask your pharmacist about the retail price for your prescription medications. It might be cheaper to pay than using your co-pay. For example, Metformin cost around $4.00 for a month’s supply while the average copay is $11.00. This could save yourself $7.00 a month.
  • DISCOUNTS: Some national chains and discount stores offer common medications for free. If your deductible is $10.00 that is a savings of $120 year.
  • LOCAL PRICES: Area drug prices vary so shop around, make phone calls.  A customer in Raleigh, NC was quoted $249.00 at a national chain for Duloxetine. Costco charges $43.00 for the same prescription. Get on that phone and take notes it could save you big money.
  • MEDICARE BENEFITS: Medicare beneficiaries may qualify for the Extra Help program to cover prescriptions. Apply at Socialsecurity.gov/extrahelp or call 800-772-1213
  • GENERIC PRICE: Ask your pharmacist for generic pricing. It might be cheaper than your copay.
  • NEGOCIATE: Call in a medical bill negotiator to review your bills errors and overcharges.
  • GET ASSISTANCE: Apply for free medication through the Partnership for Prescription Assistance pparx.org. Qualified patients can get assistance.  A free 120-day supply of the diabetes drug Victoza could save you $2,096.

 

via AARP

 

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