When it comes to medications, are you getting the most value for your dollars? Here’s our prescription for saving time and money.
- Think Generic: Save up to 80% on your meds. People sometimes resist generics because they worry about a drug’s effectiveness: how can an inexpensive version be as good as a brand name? They’re “generics” — not because they’re inferior — but because the branded medicine has lost its patent protection and other companies are allowed to manufacture and sell it. All have the identical chemical to the original. Because some generics — like coumadin and levothyroxine — may not work for you, ask your doctor before switching. Also, fillers may be different; check for allergies or intolerances. If all systems are “go” give generics a try and save lots of money.
- Shop Around: Different pharmacies, different prices. Especially for generics. Call around, compare pricing, Check “big box” and club stores. Before switching pharmacies, ask if yours will match the lower price. Whatever you do, use the same pharmacy for all of your prescriptions to avoid drug interactions and other potential problems.
- Pay Privately: You’re not required to use your insurance when paying for a prescription. You may want to keep a matter confidential; sometimes, it’s cheaper to pay on your own versus going through your insurance company with its limitations and co-pays. Evaluate your concerns. Do the math. When in doubt, ask your pharmacist for advice.
- Use Mail Order Many insurers invite you to purchase three months of medicine for two months of co-pay. That means you save four times your monthly co-pay each year. This is ideal for people who are organized and can order meds well in advance of running out.
- Talk to your pharmacist: Don’t be shy. Ask the money questions. Find out about generics or less expensive brand names. Protect your interests. The more informed you are, the healthier you will be. And if you’re still in doubt, seek the help of objective health care experts.
Do you have a tip we didn’t include? Post it in the comments section. We’d love to hear from you.