Clever Money Saving Tips for Medications

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The July-August AARP Bulletin “99 Great Ways to Save” includes, for the first time, ways to save pharmaceutical costs.

  • 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.  You can save yourself $7.00 a month.
  • Some national chains and discount stores offer common medications for free. If your deductible is $10.00 that is a savings of $120 year.
  • 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 charge $43.00 for the same prescription. Get on that phone and take notes it could save you big money.
  • Medicare beneficiaries may qualify for Extra Help program to cover prescriptions. Apply at Socialsecurity.gov/extrahelp or call 800-772-1213
  • Ask your pharmacist for generic pricing. It might be cheaper than your copay.
  • Call in a medical bill negotiator to review your bills errors and overcharges.
  • 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.

 

AARP Bulletin

via AARP

 

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