Seven Ways to Cut the High Cost of Prescription Drugs

By Mary Hunt

October 31, 2016 5 min read

These days the skyrocketing cost of prescription drugs is enough to give you a heart attack. If your prescription medication costs have got you down, cheer up! Then check out these 10 ways you can save money on prescription medications — plus where and how to get some medicines (antibiotics!) for free.

GOODRX.COM. What a fantastic website this is — no sign-up or credit card required. Just type in the drug name plus your zip code at this site (or using GoodRx' mobile app for IOS and Android) to compare prices at different pharmacies in the area and to find coupons too, that will cut the cost even farther. Drug prices vary wildly between pharmacies and GoodRx finds you the lowest prices and discounts. Here's an example for Los Angeles for 90 capsules of 300mg gabapentin* (generic Neurontin): Kmart: $12.92. Rite Aid $55.49. Safeway: $13.17. Target $16.38; Walgreens $29.29. Crazy is it! GoodRx.com will make sure you get the lowest price available. Here's another example: 30 tablets 20mg Lipitor (generic). The estimated cash price is $80.10. With GoodRx Coupon: $10.63. That's a savings of 87 percent.

THE DOC TALK. Usually doctors don't keep up with the retail price of medications they prescribe — they're thinking in terms of successful treatment not dollar signs. A pharmacy tech told me recently that all the time she will have patients call the doctor for a cheaper options once she shows them what the first will cost. Don't be afraid to make that call. More than likely there is a less expensive option that will be just as effective.

PILL SPLITTING. A $5 pill splitter just might save you 50 percent on the cost of your medication. Because of a quirk of how some drugs are priced, a tablet that's twice as strong as another may not be twice the price. In fact, it might be about the same price. So, sometimes, cutting a higher strength pill in half can get you two doses for about the price of one. With a little manual labor — just snapping down the lid of a pill cutter with your finger — pill splitting can save quite a lot of money. Talk to your doctor. Not all prescription pills are splittable, but the one you take just might be. According to Web MD, some pills that are commonly split include: statins like Crestor, Lipitor and Pravachol; antidepressants like Celexa, Paxil, and Zoloft; ACE-Inhibitors like Monopril, Prinivil, Univasc and Zestril; and angiotensin receptor blockers like Avapro and Cozaar

ASSISTANCE PROGRAMS. From time to time government programs, non-profits and drug manufacturers offer deeply discount or no-cost medicines. To find out the latest information on what is available, I highly recommend the Partnership for Prescription Assistance website (pparx.org). Once there, simply enter the name of the medication or the company that makes it then click "Get Help Now" to discover if there are currently programs and assistance with the cost of that medication. Also check with disease related associations such as The American Cancer Society (cancer.org) or the American Diabetes Association (diabetes.org) too, if with help in locating less expensive options that relate those diagnoses.

BIG BOX STORE PROGRAMS. Many discount store chains like Walmart, Publix, Target, Meijer and Costco offer deeply discounted generic medicines for $4 to $10. Some medicines, like antibiotics or pre-natal vitamins are offered free as some of these stores like Meijer and Publix. Costco's assistance is available for members only and it is fantastic — well worth the price of membership if you do not have prescription drug insurance coverage.

AARP DISCOUNTS. If you're eligible (age 50 or older), look into joining AARP as their members receive many discounts including mail-order pharmacy discounts through reputable distributors.

BUY IN BULK. Certain medications (cholesterol statins are one example) are often available for a much discounted price in a 90-day supply. You may be required to order by mail order to get that price.

*as of 7-10-2015

Would you like more information? Log on to EverydayCheapskate.com, where this column is archived complete with links and resources for all recommended products and services. Mary invites questions, comments and tips at [email protected], or c/o Everyday Cheapskate, 12340 Seal Beach Blvd., Suite B-416, Seal Beach, CA 90740. This column will answer questions of general interest, but letters cannot be answered individually. Mary Hunt is the founder of www.DebtProofLiving.com, a personal finance member website and the author of "Debt-Proof Living," released in 2014. To find out more about Mary and read her past columns, please visit the Creators Syndicate Web page at www.creators.com.

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