SPONSORED POST – About 1 in 4 American adults find it hard to afford their prescriptions. Some don’t have any health insurance, while others own health plans don’t even cover their medication costs. Moreover, many chose to deal with this kind of problem by not taking their medications.
Why Do Prescription Drugs Cost So Much
Americans spend more on their prescription drugs than any people in other countries, with the costs continuing to skyrocket. Furthermore, in 2016, medication costs have risen to 6.3% compared to the previous year. That was around three times the percentage for other goods and services.
There are a lot of factors that can contribute to drug costs rising. Drug companies say that they have to raise the price for their existing products to pave the way for new drugs. Moreover, the country’s drug research and development also play a significant role in the matter.
Critics believe that there is more to the story. They argue that only a small percentage of the cost is given to research and development. Furthermore, critics believe that pharmaceutical companies spend more on marketing and administration.
Whatever the cause might be, it is crystal clear that consumers are greatly affected. Some choose to forego their medications to make up for other necessities. On the bright side, there are still some ways a consumer can reduce drug costs.
How to Look for Cheaper Prescriptions
For those who are having some trouble financially, there is still hope in finding affordable medication. You just have to learn how to search for it. Here are some ways you can consider:
Use Some Coupons
Discount stores, supermarkets, and pharmacies might give you some free coupons. If you think that is a hassle, try searching for coupons online. There are several websites and mobile apps that can supply you with the coupons you need. Furthermore, different coupons might help you save some money on medications for asthma, diabetes, and even drugs that are specifically for women’s health.
Try Some Samples
Drug manufacturers often supply doctors with free product samples to give to patients. Asking your doctor for a free sample is a great way to save some cash (even if it is only for a short period). While using free samples, you can take the time to shop around to cut the cost of your next medication purchase.
Shop Around
To save an ample amount of money on your medications, you may have to shop around. Comparing prices from one drugstore to another might help. It can be challenging to do, but it will be worth the effort. Moreover, you can also compare drug prices from pharmacies online.
Consider Generics
According to the US Food and Drug Administration, around 80% of prescriptions filled in the country are for generic drugs. Generics cost 80% to 85% less than brand-name drugs. Hence, it can help you save a lot of money in the long run.
Generic drugs work as well as brand-name drugs. This is because both contain the same active ingredients needed. Furthermore, they only differ in other characteristics that don’t affect safety and effectiveness.
Consult Your Doctor About Pill Splitting
Medications come in many different kinds of dosages. You might save a lot by buying the 20-milligram tablet than the 10-milligram one. If your doctor prescribed you a 10-milligram tablet, you could ask him about pill-splitting.
It is vital to note that some pills are not suitable for splitting. An example of this would be coated capsules. Moreover, splitting your pills can be challenging, but multiple pharmacies sell tools that can perfectly cut your pills in half.
Consider Patient Assistance Programs
You can cut the cost of your medication through patient assistance programs (PAPs) run by pharmaceutical companies. It is designed to help those who are financially challenged to receive low or no-cost prescription drugs.
Each PAP has its qualifications. First, you will need to apply and fill out an application form. You may also need to present your information about your income, household, insurance, and health. Moreover, your doctor’s assessment concerning your health might also be needed.
There are many ways you can look for a PAP for the medication you are currently taking. You can also easily search for it online. Just type the prescription drug’s name with the words “patient assistance program.”
Look for State Programs
If you can’t find any PAPs, you might want to consider state pharmaceutical assistance programs (SPAPs). SPAPs help people with disabilities and low-income senior citizens save money on their medications.
Twenty states in the US currently have SPAPs. You can search online to know if your current state offers one. Furthermore, qualifications set by SPAPs vary by state.
Search for a Community Charity Pharmacy
Community charity pharmacies receive multiple donations from different organizations such as drug manufacturers and nonprofits. They can provide medication to financially challenged consumers. To avail of the service, you might have to fill out an enrollment form.
Takeaway
Prescription drugs can be costly at times. However, risking your health should not be an option to save money. Trying the ways enlisted above not only saves you money, but it can also save you.
