Five Tips to Saving Money on Prescription Drugs
Seniors spend the most money on prescription drugs than any other age group in the U.S. In fact, the average senior spends four-times as much on medication then citizens under the age of 65. The high cost of prescription drugs combined with living on a fixed income has made it difficult, even impossible, for some seniors to purchase the medication they require.
- Your first step should involve checking into the Medicare Prescription Drug program. If you haven’t taken the time to look into Medicare Part D then take that time now. Anyone with Medicare, including those with pre-existing conditions, can sign up for this portion of Medicare coverage. Of course Medicare Part D will not be beneficial to everyone. Your doctor can go over your current medications and help you decide if the Medicare Prescription Drug coverage is right for you.
- Get to know your Prescriptions. After awhile it can be easy to forget just what all those different pills are for or even what they are called. Work with your physicians to make a complete list of all the medications you are currently taking including dosage information. Talk to your primary care physician and see if there are generic drug options that can save you money. If you see specialists for any chronic conditions you may find that your primary care physician is unaware of all of the medications you are currently taking. This would be a good time to ask about drug interaction issue or see if could do away with some of the prescriptions.
- Don’t be afraid to compare pharmacies. Some pharmacies offer great deals on generic drugs along with common prescription drugs. With your new list in hand go to some local pharmacies ask them to price out the individual prescriptions. Splitting your medications among 2 different pharmacies may provide significant monthly savings.
- Buy in bulk, if it works for Sam’s Club it can work for you. Some insurance companies will allow patients to purchase several months worth of medication at one time. Certain medications, like painkillers, cannot be purchased in bulk for safety reasons. Your physician and pharmacist should be able to work with you to find out if any of your prescriptions can be purchased in bulk and if that will amount to any noteworthy savings.
- Never underestimate the power of the internet. Online pharmacies are a convenient option for anyone with limited mobility or without a pharmacy nearby. Sometimes these online pharmacies offer better deals for common medications, just be certain you are dealing with licensed, U.S. pharmacy. Thanks to the National Association of Boards of Pharmacy’s Verified Internet Pharmacy Practice Site (VIPPS) finding a reputable online pharmacy takes one click of the mouse. Look for a blue VIPPS logo on the main page of any legitimate online pharmacy. Clicking on that logo should take you to the VIPPS verification page proven its authenticity.
