Taking the medications your doctor prescribes is a critical component of staying healthy but they can wreak havoc on your budget long term. So, what are uninsured or underinsured patients supposed to do if the medications they’re prescribed are financially out of reach?
It’s a sadly common situation, and while there is no perfect solution to this ongoing national issue, there are several ways to save money on medications, explains HaVy Ngo-Hamilton, senior pharmacy director at BuzzRx, a free prescription discount card and app company based in Fort Lauderdale, Florida, that helps consumers save money on prescription medications while providing charitable donations to nonprofit partner organizations.
Read on to learn tips and strategies to help you save money on your next trip to the pharmacy counter, even if you’re underinsured or uninsured.
[READ How AI Is Transforming Medicine and Patient Care]
Strategies for Saving Money on Prescription Drugs
Here are 14 strategies for reducing your medication costs.
1. Ask your doctor about possible alternatives.
Ask your doctor why you need a specific medication and whether an alternative, generic or over-the-counter medication is available that might have the same effect.
“Generics contain the same active ingredients as brand-name medications and are required to meet the same FDA standards for safety and efficacy, but can often cost less,” says Erika Gray, pharmacist, co-founder and chief medical officer of ToolBox Genomics and MyToolBox Genomics — Utah-based genetic testing companies.
Generics are almost always less expensive than brand-name drugs, typically about 80% to 85%, Ngo-Hamilton notes.
“A significant contributing factor is that while generic drugs contain the same safe and effective active ingredient or ingredients as the brand name versions, a generic drug manufacturer does not have to invest on upfront research costs and clinical trials for generic drug approvals. Those savings are often passed on to consumers via lower prices at the pharmacy counter,” she says.
You could also see whether two generic drugs with the same active ingredients could be prescribed separately to achieve the same results, Ngo-Hamilton recommends. For example, she might prescribe generic azelastine hydrochloride and fluticasone propionate instead of branded Dymista nasal spray to help a patient save some money.
However, if no such alternatives exist, and you cannot afford the brand name, Whitney Stidom, vice president of sales enablement with eHealth Inc., a health insurance broker and online resource provider headquartered in Santa Clara, California, recommends a frank conversation with your prescribing doctor to see if there’s an alternative that may be more affordable for you.
[Read: 20 Drug Interactions You Should Know About]
2. Adjust your insurance selections.
Making sure you’re in the best health insurance plan and prescription drug plan for your needs can help you save money on prescriptions, as well as other health care services.
Whether you’re getting health care through an employer, your state’s health insurance exchange, Medicare or Medicaid, you should have an annual chance to review your options and adjust your coverage if your needs change.
During that period, scrutinize your plan’s prescription drug benefits, including your plan’s formulary, which details the drugs it covers, how your coverage works and any costs associated with filling prescriptions at different pharmacies, Stidom says. You should cross reference the formulary to your medication list. If there are gaps, you may want to see what other plans are available.
Doing so could save you a lot of money, she adds. “For Medicare beneficiaries, comparison shopping for a plan can enable people to save an average of over $400 per year on prescription medication costs,” a figure based on eHealth’s member analysis data.
[READ: How Medicare Beneficiaries Can Save Money on Prescription Drugs]
3. Leverage HSA or FSA accounts.
Many health insurance plans have programs called health savings accounts or flexible spending accounts. These pre-tax funds can be used to cover the out-of-pocket costs of your prescription medications.
Not all insurance plans offer these accounts, but if yours does, it can be a good way to maximize your savings in case of unexpected health care expenses. “If you have time to plan or if you have chronic health conditions, it’s beneficial to contribute more to these tax-advantaged accounts in the upcoming years,” Ngo-Hamilton says.
[READ How Does GoodRx Work With Medicare?]
4. Make an appointment with your pharmacist.
Pharmacists are trained professionals with extensive experience in not only dispensing medications, but also counseling patients about potential side effects, negative drug interactions and swapping in less expensive alternative medications.
Many pharmacists are willing to meet with patients to review complete medication lists, including over-the-counter products and supplement you take. This can help you avoid potential negative interactions while also eliminating any costly redundancies.
Your pharmacist can also tell you whether you’d save money by paying for your prescription in cash rather than shelling out for the insurance copay.
“In some cases, cash payment may be lower, but keep in mind that if the claim is not processed through your insurance, then the cost will not apply toward your annual deductible,” Stidom notes.
5. Change providers.
If you’re struggling to afford your medical care, including prescriptions, it might be time to look for a provider who offers reduced-cost services and options, says Alexandra Robertson, senior vice president of growth at Visory Health, a prescription discount card platform based in Florida.
She recommends considering switching to telehealth services and visiting community clinics, both of which often offer care on a sliding-fee scale based on income.
6. Shop around for the best price.
Being a savvy shopper is always a good idea, but that can be difficult to do in the context of health care when pricing can be opaque. However, prescription medications are one of the few areas where it’s often relatively straightforward to determine the exact retail price of what you need.
Not all pharmacies will charge the same price for a medication, but it’s fairly easy to find out what a specific drug will cost before you pick it up by calling ahead.
Drug price comparison websites such as GoodRx.com, SingleCare and WellRx help make this process much simpler by aggregating local price data to help you find the best deal near you. These websites also offer discount coupons that may make the cost of your prescription lower than your insurance co-pay, Gray says
In addition, “prescribers also sometimes have tools available that allow them to determine which pharmacy may offer the best price for your medication and can send the prescription to that pharmacy,” Ngo-Hamilton says.
[Related:How to Save Money on Your Health Care]
7. Use a prescription savings card.
Using a prescription savings card is another great way to save money, says Dr. Colin Banas, an internal medicine hospitalist and chief medical officer at DrFirst, a health care technology consultancy headquartered in Rockville, Maryland.
“Prescription drug discoun t cards are a practical option for patients who are not covered by insurance and want to find ways to reduce drug costs,” he explains, but they aren’t limited to the uninsured. “Even people with insurance can use the discount cards, just not in combination with their insurance.”
These cards can help you access a lower cash price, which can come in handy if you’ve not yet met your deductible or the prescribed medication isn’t covered or has a high co-pay.
What’s more, these cards can be especially helpful for people who have chronic conditions that need ongoing drug treatment, such as heart disease, high blood pressure and asthma, Robertson notes.
8. Look for manufacturer discount programs.
Some pharmaceutical companies offer patient assistance and discount programs for people who meet specific income and insurance criteria.
Visit the website of the manufacturer for the medication you need and see whether such a program exists. There’s often an application form that needs to be filled out to ascertain eligibility, and you may be asked to provide proof of income and a statement from your health care provider showing that the medication is medically necessary.
9. Leverage state pharmaceutical assistance programs.
As of October 2022, at least 48 states had a State Pharmaceutical Assistance Program, and 13 states provided state discount programs, according to the National Conference of State Legislatures.
These programs vary by state. Some use state funds to provide direct subsidies to the consumer, while others offer a discount for pharmaceutical purchases. Some states have sub-programs, such as prescription buying clubs or discount cards, and some states offer several options aimed at different populations.
All of these programs have specific eligibility requirements that vary by state and program.
10. Seek assistance from a nonprofit group.
Several nonprofit groups around the country work to provide access to medications for people with financial need.
One such example is the Patient Access Network Foundation, a large organization based in Washington, D.C., that provides financial assistance for medical treatments of eligible individuals and advocates for policy solutions to expand access to care.
Another option is the Patient Advocate Foundation based in Hampton, Virginia, which uses case management expertise to help patients access treatment, including medication. The organization offers a co-pay relief program and other financial aid programs to eligible patients.
NeedyMeds and RxAssist are two other nonprofit organizations that Gray recommends checking out. They provide lower-cost options and help people access medications on a budget.
For older adults and people with disabilities, BenefitsCheckUp.org, a free online tool from the National Council on Aging, can help connect you with local programs and services for affordable health care, nutritious food and other support services.
You can search for patient assistance nonprofit organizations online or ask your health care provider for a local recommendation.
11. Request samples from your doctor.
If you haven’t taken the prescribed medication before, it can be helpful to see how you react to the drug before paying for a full prescription. Pharmaceutical manufacturers know this and often provide samples of new or popular medications to doctors to help them encourage prescription writing. Therefore, it’s quite possible your physician has samples to share.
Even if your doctor doesn’t have samples, they might have a coupon that can help you access the medication at a discount or for free.
[SEE: 11 Foods Not to Mix With Prescription Medications.]
12. Ask about pill splitting.
Some prescription medications have an indentation in the middle that makes it easy to split them in half, which could be advantageous if you’re trying to save money.
For example, if you usually take 5 milligrams of a medication two times per day, you would buy 60 pills for a 30-day supply. But theoretically, you could get a 30-day supply of 10-milligram pills and cut them in half. The larger pill supply collectively might cost the same or only a little more than the smaller one, which might save you some money.
However, not all pills can be split, particularly “extended-release” or “slow-release” medications, so check with your pharmacist or doctor first.
And, no one is advocating cutting the dose in half or taking pills less frequently than prescribed, which is unfortunately an ill-advised action some people take to save money, Ngo-Hamilton says. “Deviating from the treatment plan to save money can pose serious long-term risks for your health.”
13. Opt for a 90-day supply.
In some cases, a 90-day prescription is more cost-effective than a 30-day prescription. A form of buying in bulk, this approach can also be more convenient too, as you won’t need to go to the pharmacy each month to pick up your refill. Plus, many health insurance plans offer 90-day prescriptions via mail order, so the medications are delivered directly to your home.
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14. Advocate for yourself.
Lastly, being proactive and informed can make a big difference in your medication costs, Gray says. “If you’re prescribed a high-cost medication, don’t be afraid to ask about alternative cost-effective options or if the same medication could be taken in a different form, dose or brand that might be cheaper.”
She acknowledges that such conversations can be difficult. However, “it’s important to continue to take medications despite their costs to prevent long-term health complications and higher long-term expenses.”
It’s also a good idea to stay up to date on what your insurance covers and to stay engaged in all of your health care decisions to help you access the care you need without compromising your financial well-being.
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How to Save Money on Prescriptions originally appeared on usnews.com
Update 06/23/25: This story was previously published at an earlier date and has been updated with new information.
