3 Tips on Lowering Prescription Costs

Are you paying too much to fill your prescriptions? Is your co-pay too high? There are some alternatives and tricks to getting better rates on your medications that insurance companies, and sometimes even your pharmacy, don’t want you to know (or are legally not able to disclose).

Here are a few tricks to make sure you get the best rate* on your prescriptions:

TIP # 1: Discuss with your physician whether generic medications, if available, would be appropriate for you.

Generic formulas tend to be less expensive than their brand name counterparts and may be just as beneficial.

TIP # 2: Ask the pharmacist whether the cash price for your medication is cheaper than your copay price.

We believe that drug benefit plans pay the largest portion of prescription costs and that copays are the most practical way to pay for prescriptions.  That, however, is not always the case.  Pharmacies are restricted by law from disclosing the cash price for a medication that may actually be less expensive than your copay.  If you specifically ask for the cash price, they are allowed to tell you.  It is worth asking.  It just might be cheaper to pay for the medication without going through your insurance.

TIP # 3: Look into getting a discount card.

You may have seen commercials for companies such as GoodRx that offer discounts cards, coupons, or apps that allow you to check pharmacy prices and get the best deal in your area. There are a number of companies offering this service now. Here is a partial list for your convenience:

GoodRx
SingleCare
HelpRX
ScriptSave WellRx
‎RXsaver by Retailmenot

The Kaplan Center has available to you GoodRx and SingleCare cards available in the office. If interested, please ask and we will gladly provide them to you.

If you feel like you’re being taken advantage of by our healthcare system, the best thing that you can do is talk to your physician and your pharmacist and ask questions. We encourage you to share this information with your friends, family, and neighbors. Let’s help everyone get the best and cheapest medications possible.

By Nash Nortey
Medical Assistant Supervisor

*While it may get you a better price, keep in mind that when you pay by cash or use a discount card for prescriptions, your purchases will not be applied towards a deductible. If you have a high deductible and numerous medical expenses, it may make more financial sense to pay with your insurance.