Ways to save on prescription drugs

Prescription medication.
Prescription medication.(U.S. Marine Corps / Rodolfo E. Toro)
Published: Feb. 1, 2023 at 9:21 AM CST
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SPRINGFIELD, Mo. (KY3) - According to a government website, some drugs increased by more than 500% in 2022. 18 million Americans say they can no longer afford their medication.

The Inflation Reduction Act now requires manufacturers to pay rebates to Medicare for part D drugs whose prices went up more than inflation.

There are additional steps you can take to save on your medication.

- Consider buying generic medication; they can be just as safe and work as well as brand-name drugs.

- Whether you’re using brand name or generic medication, it’s cheaper to take one pill a day instead of two. It’s recommended that you talk to your doctor about whether a single-dose, stronger drug is an option for you.

- If you do need a brand name medication, research whether you can order it directly from the manufacturer or if they offer discounts.

- It’s important to check your plan benefits with your insurance provider so you know the ins and outs of what they’ll pay for; you can do this by calling the customer service number on your insurance card.

- You may be able to save money and time by getting a 90-day supply of your prescription instead of a monthly one, because less refills can cost less.

- Ask your pharmacist if they have any additional money saving tips or discount programs specifically for their company. Walmart and Walgreens have their own prescription savings programs.

- Search for prescription savings online. Some programs or offers are free. Make sure you check with your insurance provider first in case the prescription program replaces your insurance.

- Order from an online pharmacy; they often have deals with manufacturers, lower overhead and lower fees. Cost Plus Drugs and Genius RX offer are two companies that online ordering.

- If you rely on medication or treatment consistently, it’s worth having a conversation with a hospital social worker to find the best financial options for you.

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