How to Save Money on Your Prescription Medications
April 8, 2020
How to Save Money on Your Prescription Medications
As the cost of prescription medications and healthcare in the United States continues to rise, new reports are showing that Americans are more concerned than ever about something that should not be a devastating daily worry – “will I be able to afford to be healthy?”
Gallup and West Health, a nonprofit healthcare organization, surveyed 3,537 adults living in all 50 states, from January 14 to February 20, 2019.
Here are some of the main points revealed by the survey:
- 45% of those Americans polled are concerned that they may have a health event that will leave them bankrupt.
- 41% of those Americans surveyed say they have skipped trips to the emergency room in the last 12 months due to costs.
- 65 million American adults had health issues they did not seek treatment for because of the costs.
The survey also states that millions of Americans are actually cutting household expenses and borrowing money in order to afford healthcare.
The Centers for Disease Control and Prevention (CDC) released a report in March, 2019 that showed that uninsured Americans and women were most likely to skip daily medications in order to save money.
The report was written by Robin A. Cohen, PhD and others at the National Center for Health Statistics. The information for the report was gathered from 2013-2017 National Health Interview Survey data, which focused on the way Americans managed the costs of their medications within that four year time frame – and whether the patients chose to reduce the cost of their medications by asking doctors for lower-cost alternatives, practicing alternative therapies or skipping medications all together.
The results were astounding. Uninsured adults and women were the two categories most likely to skip medication because it simply cost too much. In fact, 12.7% of the women surveyed ( vs. 9.7% of men) were likely to NOT take their medication as prescribed. “Cost-saving strategies to reduce prescription drug costs may have implications for health status and have been associated with increased emergency room use and hospitalizations compared with adults who follow recommended pharmacotherapy,” Cohen and team wrote.
The report also stated that in 2017 retail prescription drug spending accounted for 10% of total national health expenditures – however, the increase in national retail prescription drug spending has actually slowed in recent years.
Why is this? Could it be because 70% of all prescriptions require at least some out-of-pocket expense? Are Americans choosing to not take their life saving medication in order to save money?
So what can American’s do to save money on prescription medication without compromising their health?
Here’s the bottom line – you are prescribed medication because you need it. You have a medical condition and your doctor telling you to take medicine to get better. Taking your prescription to the pharmacist to purchase your medication and taking it as prescribed should be simple, not a financial challenge. You need to find a way to afford your medication so you can take it when and how and as often as necessary to stay healthy.
Here are a few ways to save money on prescription medications:
Turn to a trusted online Canadian source like Canada Online Health. This is where trusted, certified, safe sources like Canada Online Health come in. Thousands of Americans are turning to Canadian pharmacies to provide them with a safe and affordable source for their prescription medications, rather than skipping their medications all together.
Buy more to save on cost. Another way to save money on prescription medications is to order your medications in a larger number. When you order 90 pills instead of 30 pills, for example, your cost per pill may be much lower than you realize. If you have insurance and are taking medications long-term, rather than making a copay every 30 days, order a 90 day supply and make one copay every 3 months.
Go for generic vs. brand name medication. The cost of generic medication may be much lower than brand named medications that contain the same active ingredients. If the particular brand name medication your doctor is prescribing for you is really expensive, ask your doctor if there is a similar medication that will work the same but has a generic equivalent. Are generic medications as effective as brand name medications?
Seek assistance. Depending on the state you live in, there are some prescription assistance programs available by your local and state governments, non-profit organizations, and Medicare. Some of the non-profit organizations include:
- Needy Meds – a national non-profit information resource dedicated to helping people locate assistance programs to help them afford their medications and other healthcare related costs.
- Partnership for Prescription Assistance – Helps qualifying patients without prescription drug coverage get the medicine they need.
We hear from thousands of customers every month and we hear their stories. We know that there are times when making the choice between purchasing prescription medications and paying for other life expenses such as food or other bills is a fact of life. It shouldn’t have to be this way. Being able to actually help people and make a difference in their lives by giving them an affordable healthcare solution they can trust is not just our motto, it’s what we believe in and how we live our lives each and every day we come to work at Chepomeds.com. At the end of the day we can say this – we help people. Now that’s something to be proud of.
If you would like to talk to us about your prescription medication or even simply talk to us about our company and how we operate, we’re open to talking to you. We pride ourselves on being transparent to our customers. Visit our website or give us a call. We look forward to getting to know you.
If you have questions about any of these prescription medications or any other medication, please contact our team at CheapoMeds by calling toll free 1-844-4CHEAPO (424-3276). One of our discreet pharmacy representatives will be happy to answer your questions.
This article contains medical information provided to help you better understand this particular medical condition or process, and may contain information about medication often used as part of a treatment plan prescribed by a doctor. It is not intended to be used as either a diagnosis or recommendation for treatment of your particular medical situation. If you are unwell, concerned about your physical or mental state, or are experiencing symptoms you should speak with your doctor or primary health care provider. If you are in medical distress please contact emergency services (such as 911).