Best Ways to Buy Pharmaceuticals

nevodka/Shutterstock

On average, one Epipen (an auto-injectable device) costs $775. Even the generic version will run you about $455. This is just a snapshot of what prescription drugs cost. Pharmaceuticals make up a big chunk of the average American’s health care costs, so finding the best ways to purchase them can be critical.

But besides the best way, there’s also the safest way. Some discount prescription drugs may not be the best. How can you save money on your pharmaceuticals, yet stay healthy?

Try Don’t Buy Prescriptions

Although it’s a temporary fix to drug costs, free samples from the doctor help, which is especially true if you’re trying a new prescription.

A new prescription may have side effects that could affect you. It’s better to find out with a free sample than to pay a month’s worth for a prescription. The same goes for the effectiveness of the drug.

If it’s a fast-acting drug, you'll know immediately if it’s worth the money.

Drug companies supply doctors with samples as marketing items. So, naturally, the doctor doesn’t mind giving you one to try.

Talk to Pharmaceutical Manufacturer

You can request a pharmaceutical company for a drug discount. The Patient Assistance Programs (PAPs) provides discounted prescriptions. There is also a possibility of receiving free prescriptions or paid co-pays.

This program might act as a safety net for some inadequately insured individuals. But there are hoops to jump through. For example, for some pharmaceutical companies, you'll need to provide tax records or proof of Social Security benefits. Proof of U.S. citizenship may also be a requirement.

Although they must be taken outside the Part D benefit, Medicare recipients can take advantage of PAPs. You can’t combine the PAPs discount with your Part D benefit. It also doesn’t count toward your true out-of-pocket costs.

Shop Local for Prescription Drugs

Don’t be afraid to talk to your local drugstore. The big-box pharmacies may or may not help you. But a small local pharmacy might be able to reduce your costs. Of course, they might not totally provide a discount, but they may give you other options.

OTC Drugs Might Do the Job

Talk to your health care provider. Is there an over-the-counter (OTC) drug that will have the same effect as the prescription? There may be an OTC alternative. Before you walk out the door with a prescription in hand, discuss options with your doctor.

Comparison Shop Your Prescriptions

Just like a vehicle varies in price depending on which dealership you’re in, so do prescription drugs. Likewise, the prices vary among pharmacies. Sometimes the independent pharmacies have better prices than big chains. But how do you know?

There are websites and apps available that help you price shop prescription drugs. This makes it easier and quicker than calling different pharmacies.

For example, GoodRx allows you to compare the prices for different pharmacies. Some pharmacies they might compare are Walmart, CVS, Walgreens, Publix, Costco, etc. But these pharmacy comparisons are dependent on location. So you might have different pharmacies to compare in your area.

You’ll be able to download a free coupon for the lowest price.

Another website and app that compares is SingleCare. It will also give you prices comparing various pharmacies, and you can download a coupon for the low price.

Both GoodRx and SingleCare work with ios and Android operating systems.

There are other comparison websites and apps. Choose the one that meets your needs.

Generic Prescriptions Always a Winner

Ask your doctor about prescribing the generic alternative. It may not always be possible, but it’s usually worth it.

Keep in mind that there might be a slightly different formulation in the generic than the name brand. The difference in the generic could cause various side effects—or the name brand could cause side effects. Talk to your doctor about which is best for you.

Pill Splitting May Be Viable

Discuss with your health care professional whether your medicine can be split. If possible, buying a higher dosage and splitting it in half could save money. For example, instead of buying 30 days, you'd be buying 60 days.

Some pills can’t be split, like coated capsules or those which are time-released. And you should never split a pill that’s already at the dosage necessary without talking to your doctor.

Online Pharmacies Can Save

This one comes with some warnings. Online pharmacies can save money. It’s easy to shop online and compare prices. There’s the convenience of ordering medicine and consulting with a pharmacist from your home. Those who live in remote areas or are shut-ins, especially, find online pharmacies helpful.

And the prospect of having your prescription drugs come to your front door is attractive.

But there are some downsides. You must be careful about which online pharmacy you use. There are many based in other countries that sell expired or counterfeited medicine. Look for the address on the website. If there isn’t one, move on.

A legitimate online pharmacy always requires a doctor’s prescription. If they say you just need to fill out a form and don’t require a prescription, red flags should go up. For example, they could put you on a medication that has adverse reactions to what you are currently taking. Or they may not give you the correct medicine for your condition.

Make sure the online pharmacy is licensed with a state board of pharmacy. The Food and Drug Administration’s BeSafeRx website has a great tool to check the licensing status of the online pharmacy.

Prescription Drug Costs Will Increase

From 2020 to 2021, overall pharmaceutical expenditures grew 7.7 percent. This equaled $576.9 billion. In 2022, it’s expected to rise an additional 4–6 percent. In other words, it’s not going to get any less expensive.

Shop for your prescription drugs; don’t settle on just one price. If your health care provider prescribes a new medication, ask for a sample before you put your money down.

And, of course, when possible, consider going with generic drugs.

The Epoch Times Copyright © 2022 The views and opinions expressed are those of the authors. They are meant for general informational purposes only and should not be construed or interpreted as a recommendation or solicitation. The Epoch Times does not provide investment, tax, legal, financial planning, estate planning, or any other personal finance advice. The Epoch Times holds no liability for the accuracy or timeliness of the information provided.