The American economy may be stagnant, but the cost of prescription drugs continues to rise. The people that benefit the most from rising drug costs: big pharmaceutical companies. The people who suffer the most: you, the consumer.
Between car payments, the mortgage, and maybe even college payments for your kids, you have enough bills to pay. A sudden illness or the diagnosis of a long-term condition can make your bills even higher. Even if you aren’t taking any prescriptions, there’s a pretty good chance that you know of a loved one who takes prescriptions and can use some help to save money.
A few weeks ago, Discount Drug Network gave four tips for lowering your prescription costs. Now, we’re back with some more tips that can help you fight the rising cost of prescription drugs!
Tips for Saving on the High Cost of Prescription Drugs
- Rx Generics, generics, generics, generics…We can’t say it enough: generics are a great way to save money on prescriptions. In 2008, the average generic drug cost a whopping $100 less than the average brand name drug! All generics are approved by the FDA, meaning that they are just as safe and effective as brand name drugs. In fact, they are often made in the same factories as their more expensive counterparts. For more information on generic drugs, check out Health Smart’s generic drug fact sheet.
- Buy 90-day Rx suppliesA Walgreens study showed that people who take prescriptions for long-term conditions, such as high blood pressure or depression, can save money by purchasing their drugs in 90 day supplies. The study indicated that people save an average 0f $14 per drug, per year if they switched to three month supplies. Although $14 may not seem like much, when you consider that many Americans are multiple prescriptions, that number can add up quickly.
- Consider healthy lifestyle changesBefore you start paying for that cholesterol-lowering drug, talk to your doctor and see if you can get the same effect from a change in diet. It’s better to get healthy and lose weight now than to be stuck paying for medications!
- Try prescription pill splittingA pill that is twice the dosage of another pill is not necessarily twice the cost. Consider asking your doctor to prescribe you pills that are twice as strong as you need, then split the pills in half. You can make your prescriptions last twice as long and can save a lot of money doing it. However, splitting pills can be dangerous, so make sure you talk to your doctor and find out which pills are safe to cut. Always use a pill splitting tool (you can get them for $5 at most pharmacies). WebMD has some great pill splitting dos and don’ts.