Cut The Cost Of Your Medicines

Health care is on everyone's mind. With minimal raises projected for 2009, people are worried whether they can afford to get sick.  According to the Los Angeles Times, "Millions of consumers are weighing their medical costs and trying to see what expenses they can jettison to save money."

In a survey of 2,500 US employees released in late 2008, 17 percent avoided a recommended doctor's visit to save costs and 17 percent did not fill a prescription or skipped doses of prescribed medicine, a figure that has been increasing since last year.

The health care crisis is a lot more serious when we learn people are avoiding visits to their physicians and not taking their medications.  If a person is carrying an infection and does not receive treatment, the chances are high that without an antibiotic prescription the sickness can spread. 

Rather than ignore symptoms of an illness to save money, consumers need to take steps to stay healthy - eat well, exercise and lose weight, if necessary.  We also need to find ways to pay for healthcare costs and not ignore our physical needs.

When it comes to prescription medications, several practical steps can be taken to save money:

•Review your medications with your doctor.  Do you still need to be taking every drug you're on?  Perhaps you can safely lower the dose or substitute a less expensive option for the drug. Consider alternative supplements and vitamins as a way to deal with your illness.  For example, try a natural statin like Red Rice Yeast rather than a high priced cholesterol lowering drug. There are effective natural ways to lower your cholesterol count other than taking expensive and potentially damaging medications.

•Spend time price shopping.  Compare prices between pharmacies and save money on drugs - up to 10 percent on brand name and generic drugs.  Go online and visit www.destinationrx.com to compare prices and check with your local pharmacy to confirm.  Some drugstores will match competitor's prices.  Costco's prices for brand-name medications are often the lowest. 

•Consider the generic brands.  This year select big retail stores and supermarkets will be selling their generic drugs for as low as $3.00 per month per prescription. Be sure to check out the store's website to find additional great bargains.  

 CVS offers a deal for $10 a year that entitles cardholders to buy 90-day supplies of more than 400 generic drugs for $9.99 each.  The LA Times projects that as the economy falls, we can expect drugstore chains to offer more and more great deals on medications. When visiting a store's website, sign up to receive email alerts when certain prescriptions you're taking experience a price drop.

•Look for coupons for brand-name medications.  Pharmacies and supermarkets will offer coupons on particular drugs on their website.  You can also check out www.internetdrugcoupons.com.

•Buy some of your medications in bulk.  Sixty and 90-day supplies of medications  are cheaper by mail order and at retail pharmacies than a 30-day supply.  If you have medical insurance that covers prescription medications, purchase a 90-day supply. Most insurance companies will only charge you a two-month co-pay. Consumer Reports Best Buy Drugs advises checking online prices at www.pharmacychecker.com.

If you're further concerned about buying medication online, check out the Food and Drug Administration's site that offers advice on buying drugs online only through verified Internet pharmacies.

John

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Comments

[Debt Settlement]

Hey, nice job on the blog here. Some good ideas. Keep up the good work.

[lawrence berezin]

John,

Timely post. Your points are well taken.

You're right about the first line of defense being preventive. Stay healthy. Exercise and diet are important.

But, even healthy people get sick. I'd add two another sources to consider to help reduce the skyrocketing cost of medicine. There are:
1. discount prescription plans offered by 3rd party providers
2. discount plans offered by drug stores

The 3rd party plans generally offer discounts in the area of 20% or more. Rite Aide Pharmacy offers a discount card in the area of 15%

Thanks for your post and caring about such an important issue.