Talk to a Pharmacist: 4 Key Ways for Saving Money on Medication Costs

In 2019, nearly 1 in 4 Americans reported difficulty affording their prescription medications.

Talk to a pharmacist and they’ll tell you a familiar story. Drugs are more expensive than ever, and prescription coverage can be slipshod at best.

Read on to find out some great ways to save on the costs of your prescription drugs.

Ask Your Doctor and Talk to A Pharmacist

The first thing you should do when trying to lower your prescription drug costs is to talk to your doctor. They’re there to help you stay as healthy as possible.

The vast majority of doctors understand the competing costs modern Americans face. They often have a variety of different drugs they can prescribe for the same condition.

By letting them know your concerns upfront, they can focus on low-cost generics or other less expensive options. Another useful step is to talk to your pharmacist.

Pharmacists deal with prescription medication all day long. They have a lot of insight into the costs of different drugs and how to save. They may be able to offer an option your primary care physician wasn’t aware of.

This allows you to save before you ever pick up your prescription.

Use an HSA or FSA Account

A health savings account (HSA) or flexible spending account (FSA). These are healthcare savings programs offered by employers.

They allow you to contribute pre-tax money into an account specifically for health costs. Depending on your tax rate, this can cut your prescription costs by up to 38%.

Before you contribute to one, it’s crucial you know the differences between these two programs. Both FSAs and HSAs can be used to pay for healthcare costs, but HSAs can be rolled over at the end of the year.

FSAs are a ‘use it or lose it’ benefit. Any money left in an FSA at the end of the year is lost.

Consider Prescription Assistance Programs

Uninsured or underinsured? Many large pharmaceutical companies offer prescription assistance programs (PAP) to help you purchase needed medication.

Most medications that qualify for a PAP are extremely high-cost and often lack a generic version. PAPs allow everyday people to access life-saving drugs even if they can’t afford their high costs.

Applying and getting approved for a PAP can be easier said than done. You need to apply individually to the pharmaceutical company that manufactures the drug you need and wait through a lengthy review process.

If you only have a single choice for a quality drug, it can be a viable option to pursue.

Use a Mail-Order Pharmacy

One way to see substantial savings on your prescription drug costs is through online or mail-order pharmacies. These operate at scale and can pass significant savings on to you.

Some even offer awesome Rx coupons or specials that help save you additional money.

Don’t Be Afraid to Ask For Help

If you’re one of the millions of hard-working Americans struggling to pay for their prescriptions, know that help is out there. By following some of the steps outlined above, you can save potentially hundreds or thousands of dollars on your medications.

Talk to a pharmacist or check out some of our other great articles to learn more about the costs of drugs in America.