Here are two hacks you can use to lower prescription drug costs. Unfortunately, prescription drug prices are high and getting higher. If you’re like most of us you have a high deductible healthplan — or maybe you do not have insurance that lowers prescription drug costs. You’re likely interested in finding ways to reduce prescription drug prices.
You may be able to get a lower drug price by another means than using your own health insurance (keep reading). Also, drug prices vary from pharmacy to pharmacy even with the same insurance. This is due to the fact that your insurance company may have negotiated rates with the pharmacy chains themselves.
Prescription Drug Discount App
Before you hit your prescription deductible, your drug prices can be really high. To combat these prices, you can use prescription drug discount app. We’ve listed four of the main companies here. Our own testing indicated that GoodRx was the most consistent low price leader (though not always).
How the prescription drug discount apps work: They’re super simple.
- You load in your preferred drug, either the generic or brand name.
- Enter the quantity of pills
- Enter your zip code
- That’s it!
The app will give you a list of pharmacies and the price at that specific pharmacy close to your home. You need to print out the details for the discount — it could be a discount card — to hand to the pharmacist in order to get the price. You’re done! Often you can download a phone app which makes the prescription savings lookups even easier!
Here’s the list:
- GoodRx (our favorite)
Note: you still may find a cheaper drug price at one of the other discount apps so for expensive drugs check them all.
Drug Savings Card
Mrs YourFinances takes an expensive eye drop for her eyes. Its expensive even with insurance — around $200/month (ugh!). Well we don’t pay $200/month though — we pay closer to $5/month (yes!). Her drug like many brand named drugs offer a drug discount card that reduces your out of pocket cost. You use this along with your health insurance.
To find out if your drug prescription offers a drug savings card, do a google search for “<your drug name> savings card”. For example, “Crestor Savings Card”. This would bring up the Crestor website which says that you can get Crestor for as low as $3 for each prescription (not pill, for the whole prescription). You just download the card. Wahoo!
How to Save on Prescription Drugs
I’ve shared with you two ways to save money on prescription drugs.
- Drug savings card
- Prescription discount card
Check out other ways to save money
Do you have other ways to save money on Prescription Drugs?