Save Money on Medications
- Victoria Wermers, RN,MSN,FNP, PMHNP
- Dec 21, 2024
- 5 min read
Updated: Jul 25
The cost of medications just seems to be rising. Especially many of the newer ones on the market. Much of this is due, at least in part, to production costs, advertising and even the new tariffs (many of our medicines are produced in Mexico, Canada, and China.)
So, if you are looking for ways to save money on your medications, here are some great ideas!
The following are some recommendations that may help you find less costly prescription drugs, supplements, vitamins, and over-the-counter medications
PRESCRIPTION MEDICATIONS
According to one major US pharmaceutical company, COST is the main reason why people do not take their medications as prescribed. Some people even break their meds in half and share them with another person! Most people would agree that the cost of medicine is out of control in this country.
Do not despair. You CAN get the medicine you need. It may take some work, but you CAN FIND A WAY.
There are several ways that you can get good, less expensive medicine. Here's how:
1. If it is a prescription, you can ask your healthcare provider to prescribe a cheaper
alternative. Advertisements and drug representatives ("drug reps") often convince a healthcare provider that the newest products are the best. Maybe they are, but then again, perhaps they aren't. And sometimes they haven't even been out long enough to know if they are safe.
Some newer or more novel medications can (and often do) cost thousands of dollars. I used to work in a retail store that had a pharmacy. I often overheard the pharmacist saying to those unfortunate customers, "That will be five-ninety-none with your insurance... No, not five dollars and ninety-nine cents, FIVE-HUNDRED AND NINETY-NINE DOLLARS!" My heart ached for those people. It was as unfortunate for the pharmacy technicians who had to deliver the news and for the patrons as well. In many cases, less expensive medicines accomplish the same thing. So, be your own advocate.
2. Here are many other options you can check out. You can also explore other medication assistance programs:
Patient Assistant Programs (PAPS) often offer help for uninsured or underinsured people Many pharmaceutical companies offer financial assistance (especially for medications with non-generics) or for those with high copays (especially for those newer, more expensive medications). Go online to the company that makes the medicine; look for coupons or deals or call the manufacturer directly to ask questions). Don't be humble. Pharmaceutical companies make a LOT of money.
For Paxlovid - a medication that helps treat COVID-19, Pfizer offers a patient assistance program for people who are on Medicare, Medicaid and have no insurance To enroll in the USG PAP, call 1-877-219-7225 or visit the PAXCESS Patient Portal.
Patient Advocate Foundation Copay Relief, for certain cancer and rheumatoid arthritis medications.
Asthma and Allergy Foundation of America (for respiratory medications)
And if you get this: "We are experiencing higher than normal call volume and extended wait times..." (as so many services are apt to do these days), put your phone on speaker so you can hear it and find something to do while you are waiting - like laundry, dishes or even work!
3. Here is one of my favorite ways to help people who have some income to pay partial medication costs, save money on medication. Several coupon programs exist that REALLY DO help for many medications. I have been referring people to GoodRx for years. Sometimes a GoodRx "card", actually covers the cost of some medications better than insurance does! You can also go to their site to check the cost of a lot of medications (except for some of the most expensive ones that are advertised on NFL football they often do not list the cost of those$$$$).
You can just load a GoodRx app on to your phone to show a pharmacist at the checkout (no, this is NOT and advertisement, I just like these guys)
5. Pre-tariff organizations: Try a mail-order pharmacy. As long as you check that the pharmacy you are ordering from is licensed and you have a prescription from your healthcare provider for a US FDA-approved medication (your doctor can often FAX these to the company), you will typically get reputable, good medicine. Sometimes, there can be some shipping/delivery quirks, but these usually get straightened out after the first order.
These medications can be up to 80% cheaper than those in the US.
Recently, I read several articles (2024) about the difference in cost for the fairly new diabetes drug Ozempic.
The cost to produce a one-week supply is around $5.00 or less
Cost in the US = $ 1000 CASH PRICE per month
Cost in Canada=$300-$350 CASH PRICE per month (plus shipping)
(It may cost hundreds of dollars less with insurance, depending on the insurance).
Canada, as well as many other countries, has restrictions on pharmaceutical prices.
The same is true of many other medications, including cancer drugs, EpiPens, some respiratory medications, immunomodulating drugs, and weight-loss medications (although some of this is changing as we speak); of course, there is supply and demand. You can get several medicines from Canadian pharmacies, but they are limited, and policies are often changing.
6. Try a Generic. Most generics are cheaper than brand-name drugs because they do not require rigorous development standards and costs like the original drug when it was new.
Great examples: Advil and Motrin are the same as ibuprofen generic. Ibuprofen is usually much cheaper. Most brands and generics are considered equally effective. The FDA has to approve generics to be sure the active ingredient is equivalent. There are, however, a few exceptions. Some generics have different "fillers" that a person may be sensitive to or that may affect the absorption of the drug by the body. Also, sometimes the active ingredients of the generic and brand are not the same: The latter include seizure medications, thyroid medications, lithium and blood thinners, among others. Switching from brand-name to generic (and vice versa) with those drugs may cause a change in their dynamics and efficacy.
If you need help with this, ask a pharmacist.
7. For Medicare beneficiaries who have difficulty affording medications, plans are offered through statewide Medicare assistance programs, "Extra Help," in your state to see if it is still available.
OVER THE COUNTER MEDICATIONS M
1. This is uncommon but happens once in a while: If you have insurance, ask your provider to prescribe (give a prescription for) the brand-name version of the
over-the-counter medication if it is available. If a branded medication has an over-the-counter version, sometimes insurance companies cover the brand at the pharmacy with a prescription. This may be good in the case that the over-the- counter equivalent is expensive (i.e., fluticasone/Flonase).
2. In terms of things like vitamins and some supplements, many retail pharmacies have buy one get one (BOGO) for 50% off (or a buy one get one free).
Shop around: The price of your medication can be VERY different at different pharmacies with or without insurance. If you have insurance, you probably have an in-network pharmacy (check with your insurance company) - prices will likely be cheaper in-network than out-of-network. Compare pharmacy cash prices on GoodRx.
If you have any questions about equivalents or alternatives, ask your pharmacist. They are well-versed in things like this.
