Prescriptions Too Expensive? We have regular calls from parents about the high cost of their prescription medicines. Due to high deductible insurance plans, the costs of prescriptions are being shifted to the patients.
The following are tips to reduce rx costs:
1. There are many discount cards and programs. We have found one discount program to be superior to the others, Goodrx.com. You can go to their website, enter the medication and it will direct you to the lowest cost local pharmacy. We have seen differences of over $100 from one pharmacy to another.
2. Ask the pharmacy to match the lowest price. Pharmacies such as Smith’s and Walmart offer price matching, if you ask.
3. $4 prescriptions. Pharmacies often offer a list of low cost medications. Sometimes switching from a liquid to a pill, or switching to a similar medication can save $$$.
4. Most insurance companies have a formulary, or list, of medications that they prefer. It is not possible for a doctor to know the detailed preferences of hundreds of formularies. You can learn the formulary of YOUR insurance company for your medication. The pharmacy can also suggest which medications are appropriate alternatives. Choosing an alternative medicine may or may not be a good solution.
5. You can ask for a “cash price” from the pharmacy, if it is cheaper than your insurance contracted price.