Managing prescription costs – maintaining a healthy body and healthy budget
Guest post by Dave Roberts, Content and Social Media Manager at RxSpark, our partners on TrueConnectRx.
Each year, it’s almost guaranteed that the cost of prescriptions will increase, putting additional strain on the household budgets of millions of Americans. Already in 2022, the price of over 600 medications has gone up by an average of 5% to 6%. With the financial impact of the COVID-19 pandemic being felt across the country, Americans need solutions to lower the costs of their medications.
Over one in five adults in the US, the equivalent of 58 million people, have difficulties paying for prescription medication they need, according to Gallup research. Another report found that 13 million Americans skip doses of their medication to mitigate the high cost of prescriptions. Clearly, the price of medication is an ongoing and serious issue for many.
How do you save on medication without skipping doses of medicine you need? Fortunately, there are some ways to keep costs down and make the price of prescriptions more manageable.
5 tips to save on prescriptions
Sometimes you just need to take a few simple steps to get lower prices on your medications. Here are five tips to try:
1. Switch to a generic medication
If you are prescribed a brand-name drug, check if there is a generic version available or ask your doctor. Generics are required to have the same active ingredients, strength, dosage form, and route of administration as the brand-name medications, and they cost anywhere from 20% to 70% less than the original. Your doctor or pharmacist should be able to tell you whether a generic is available, as not all medications have them.
2. Try another drug
If your medication is effective, but expensive, there may be an alternative that provides the same results or relief from symptoms, but at a lower price. If you want to explore your options, talk to your doctor and let them know you’re concerned about the price, and ask if there is an alternative medication you can safely try.
3. Apply for assistance
Check to see if you are eligible for a prescription assistance programs that helps you afford your medication. Nonprofit organizations, government agencies, and even drug manufacturers offer these programs. Your medications could be significantly discounted or free when you qualify for these programs.
4. Look for discounts and coupons
Sometimes drug manufacturers will offer coupons for patients, especially for new medications. Discounts may also be available if you meet specific criteria or provide them with medical information. In addition, some pharmacies offer coupons for new customers or certain milestones.
Another option is to sign up for a discount program like TrueConnectRx through your employer, which is completely free, and you can save up to 80% on your prescriptions…
5. Compare pharmacy prices
Finally, remember that pharmacies don’t all offer the same prices on medications. You need a tool to help you find the lowest prices in your area with fast and easy comparisons. Using TrueConnectRx, you can instantly compare prices of the drugs you need at local pharmacies, so you’re never overpaying.
What are prescription price comparison sites?
The cost of medication frequently varies significantly between different pharmacies, even between two on the same street, so, as with most things in life, it’s always worth shopping around to find the best price. Fortunately, you no longer need to drive from pharmacy to pharmacy to find the best medication price near you. There are prescription comparison sites that do the work for you and help you save a lot on your medications. This is especially crucial if you don’t have insurance, or your plan doesn’t cover prescriptions.
How does it work?
TrueConnectRx is very easy to use. Simply enter the name of your medication, along with your location and click search. You will find a list of prices at pharmacies in your zip code, with the lowest price at the top. You may be surprised how much prices vary!
Furthermore, if you search for a brand-name medication, TrueConnectRx will also automatically show you the price for the cheapest generic version available (and if you want to check the brand-name price, simply select that from the dropdown list to compare).
When you find a price you like, save the voucher, and show it at the pharmacy to get that price.
To learn more about 2022 prescription price comparisons, drug discount search tool.
Other benefits with TrueConnectRx
- Earn Reward Points and redeem these for gift cards.
- It’s completely free and easy to use.
- Save up to 80% on prescription medications.
- View simple comparisons of the cost of your prescription at your local pharmacies.
- Set and receive reminders every time you need a refill on a medication.
- Create a customized profile where you can manage prescriptions and view medication history.
With these benefits, TrueConnectRx helps you save up to 80% on medication costs while helping you earn extra rewards. And it’s all completely free.
Want to use TrueConnectRx for yourself?
Ready to start saving? TrueConnectRx is provided through your employer in TrueConnect’s Financial Wellness Platform. To learn more, let’s schedule a call. Contact us and we’ll reach out to you soon.