Surveys have shown that prescription drug prices in the United States are more than twice as high as in other countries. In fact, those prices have been steadily increasing for a while.
Experts say brand-name drugs are the key drivers of higher prices. Most Americans are aware of the fact that prescription drugs can be very expensive, especially when they have to pay for them out of their pockets.
A study from RAND Corporation has found that the spending on prescription drugs in the United States increased 76% from 2000 to 2017.
However, you can do a few things to save money on your prescriptions.
- Get a Good Medical Insurance
First, you can sign up with a good insurance policy from your employer or through the government if you meet the financial qualifications, according to PopWrapped, a news outlet. Medical insurance policies cover a large portion of the policyholder’s prescription bill. Usually, employer insurance plans are inexpensive because of the group discounts the employers get.
- Switch to Generic Drugs
Generic drugs are much, much cheaper than their branded counterparts are. A generic medicine is 80% to 85% cheaper than a brand-name drug. So, you can request your healthcare provider to prescribe a generic drug instead of a brand-name drug. Your provider should have no problem suggesting generic drugs to you. You can save a lot of money on generic drugs, as they are way too cheaper than high expensive brand-name drugs.
- Use Discount Coupons or Cards
You can save money on your prescriptions by getting discount cards or coupons, according to PopWrapped. You can find a discount card at your doctor’s office. Alternatively, you can download a pharmacy comparison app that will allow you to compare the pricing for your medicines at various locations, such as GoodRx.
- Request for Flyers
Signing up for flyers is one of the best ways to save money on your prescription drugs. You can request those flyers from places such as Shoppers Drug Mart, and they will notify you of any upcoming sales and specials, according to PopWrapped.
At least one in four Americans who take prescription drugs say they find it difficult to afford them, according to Kaiser Family Foundation Health Tracking Poll. When you cannot afford brand-name drugs, you tend to be non-compliant with your treatment, which poses a great risk to your health.
Call online pharmacy price comparison sites, such as GoodRx or SingleCare, to see which drugstores offer you the best prices on your prescriptions. Go local rather than shopping at large chain pharmacies that tend to charge more for most drugs. Check for coupons. More importantly, switch to generic drugs.
