It’s no surprise that drug prices vary, so it can pay to shop around. Cutting costs on prescription drugs is easier than you may think. Consider the following ways to help lower your bills for pills:

  1. Go generic. This is the first place to start. If a generic isn’t available, ask your doctor or pharmacist if there’s a similar drug with a generic version. Many pharmacies in grocery stores and big-box retailers offer $4 generics.
  2. Compare prices. Instead of running a prescription through insurance, use an app to compare and find the least expensive option. It’s as easy as typing in the drug name, dose, quantity and your zip code. Don’t be afraid to pick up the phone and call stores and pharmacies as well.
  3. Order a 90-day supply. Once you know a prescription works well for you, ask if there’s a way to get a 90-day supply instead of a 30-day supply. Oftentimes that’ll unlock instant savings. Additionally, look into potential savings through a mail-order program.
  4. Sign up for a reward program. Major drugstores and chain stores offer some type of rewards program. It’s free to sign up, and you’ll receive coupons and accumulate points when you fill prescriptions or use other pharmacy services.
  5. Use a preferred pharmacy. According to AARP, over a third of employers have pre-negotiated lower costs through preferred pharmacies for employee health benefit plans. Find a pharmacy in your network so you can secure a lower copayment and save on costs.
  6. Call your insurance company. Every drug plan has a formulary—a list of drugs covered. Instead of scouring that document, simply call your insurance company and ask if your prescribed drugs are covered. If they are not covered, ask if there’s an alternative available.
  7. Check for rebates. Browse manufacturer websites for coupons and rebates. Oftentimes, online deals are available, and you can use those at your pharmacy.
  8. Pay with cash. Pharmacists can tell you if you’ll save money by not using your insurance and paying with cash instead.

Other Considerations

It’s important to keep in mind that drug prices are always changing. There’s no guarantee that the lowest price you find today will be the lowest price next month.

Saving money on medications is great, but don’t skip doses to make your pills go further.

If you have prescription drug questions, start with talking to your pharmacist. Before paying, ask whether there’s a better price available. They may know of some additional cost-cutting tips and can provide guidance.

This Know Your Benefits article is provided by BHC Insurance and is to be used for informational purposes only and is not intended to replace the advice of an insurance professional. Visit us at © 2020 Zywave, Inc. All rights reserved.