When someone has a health problem, it’s always best for them to visit the doctor to seek a proper diagnosis and the best course for treatment. Oftentimes, the doctor would prescribe medication to help treat the condition or its symptoms.
Some people might get prescribed medication for cosmetic reasons, but oftentimes these prescriptions are for people with chronic or serious illness.
Most medication will only work if they are taken at the right time with the correct dosage. It’s a big problem because you can’t take them if you can’t afford them.
The National Center for Health Statistics conducted a survey which showed that 8% of American adults don’t take their medicines as prescribed because they can’t afford them.
If you’re aging, then medication is probably part of your daily life. According to the Federal Drug Association, five out of six people over the age of 65 take at least one medication while nearly 50% of seniors take three or more on the daily. If you’re not thrifty, this could seriously add up.
According to Harvard Health Publishing, even if the cost is not stopping you from completing your prescriptions, you can still use these tips to save money.
Many expensive and popular medicines have generic counterparts. Dr. Melissa Stoppler reassures us that generics have the same active ingredients, dosage, and effectivity despite being cheaper. Always ask your doctor or health care provider if a generic is available, or if there’s a similar drug with a generic version.
Go to a Grocery Store or Supermarket
Most pharmacies in grocery stores and big-box chains offer generic medications for much less. The National Institute for Aging recommends that you ask for a list and bring a copy to your doctor. You can check all your different options to see if your medication is on their list.
Buy Larger Supplies
Maintenance medicines can be cheaper if bought in bigger amounts. Instead of a 30-day prescription, try buying a 90-day one. You would only need to pay one insurance copay instead of three, or simply get more value for your money if you’re paying out of pocket.
Ask for a Bigger Dose
If your prescription drugs are in pill form, many of these are available in bigger doses. Ask your doctor if that’s the case with your medication and ask for a double dose. For example, a 10 mg pill can be easily split into two 5 mg dosages with a pill splitter.
Get Medicare Part D
If you’re on Medicare, or if you’re still considering it, Medicare Part D covers outpatient drug prescriptions. With Part D, copays are just $5 or $10 and could help you save a lot on prescription medication.
After you complete the annual deductible ($415 in 2019), your insurance company of choice will pay a copay until you reach $3820 in copayments. At this point, you get to pay only 37% of the price for generics and only 25% of the full price you would pay for brand name drugs.
When your total out-of-pocket expenses reach $5,100, Catastrophic Coverage kicks in and pays for 95% of the total cost of your medications for the rest of the year.
Take your time to explore your options and do your research. Find an insurance plan that works best for your needs, shop through different pharmacies, and ask your doctor a