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.