This article is brought to you and contributed by an outside writer, with contributions to the article from Femme Frugality.
The American healthcare system is wild.
On the one hand, we have a reputation for world-class healthcare. People from other countries will sometimes scrimp and save to do a type medical tourism (the reverse of the type of medical tourism Americans are known to participate in.) The richest country in the world did historically have some of the most cutting-edge care in many fields.
On the other hand, that healthcare is so expensive that many Americans themselves cannot access it. If you’re one of the elite, it might be the best healthcare in the world, but for the rest of us, medical concerns sometimes get put off until they’re life-threatening. Fights with insurance companies can delay claims until the process becomes lethal. And medical debt is the number one cause of bankruptcy when care is received.
Our systems are a nightmare, and that systemic fever dream applies to prescription meds, too. Some Americans have even been known to ration out life-sustaining medicine, threatening their health because they cannot afford the cost at the pharmacy.
It’s enough to make you look at other systems with envy. For example, in the UK, certain medications are funded through NHS — sometimes for free. And to add even more jealousy to the equation, there are government-registered online pharmacies like Curely where you can get a prescription and place your order all from your living room.
How to save money on prescription medications
While Americans don’t have a public health care system that funds medication, there are still ways to save at the counter. I’m not going to pretend these are anything but a bandage on a bullet wound. But if you can find a program you qualify for, they can help you save some money and make your meds more affordable.
Pharmacy discount cards
Pharmacy discount cards are usually free, and they can knock your prescription costs down. You want to have a good relationship with your pharmacist before implementing this method.
That’s because different discount cards offer different amounts off — and your pharmacist may be familiar with the best ones for your particular medication.
Some of these cards will save you more than insurance, while in other situations the discount can’t be run with your insurance and you’re better off billing the traditional way.
These ins and outs are all something a compassionate pharmacist may be able to help you with.
Check with your doctor about generics
Sometimes going generic can save you cash and not affect your health. Other times, the brand name will really boost your health outcomes. Ask your doctor about this before you go generic to save money.
Go straight to the pharmaceutical company
I know, this one sounds unbelievable. But there are different co-pay assistance and patient assistance programs at drug companies that help certain patients better afford their medication.
Some of these programs have income limitations. Some of them work with those on state-run insurance, and still others apply to to those with private insurance.
There are usually a decent amount of hoops to jump through, but the savings can be worth it if you qualify.
Explore (trusted) online pharmacies
Be extremely careful when ordering prescriptions online! That said, there are some well-established platforms like Mark Cuban’s Cost Plus Drugs that work with pharmacy partners to fulfill your doctor’s prescription at a lower price.
Apply for Medicare Extra Help
If you’re on Medicare and are below certain income limits, you may qualify for the Extra Help program, which seriously slashes your out-of-pocket expenses for medication. Some people are automatically enrolled, but if you’re not, that doesn’t necessarily mean you don’t qualify. You might just have to apply.