As we age, we tend to take more Prescription Drugs. Whether these medications are for cholesterol or another physical ailment, they can be necessary for good health. However, they also can be rather expensive. In today’s how-to-guide, we hope to help our readers continue in good health while saving money on prescription drugs.
Stats on Prescription Drug Use
In the last decade, the average percentage of American citizens who reported taking two or more prescription drugs in the past month increased by 6%, and out of every 10 seniors, 9 recounted having taken at least one prescribed drug in the last month or less. Spending in the United States for prescribed medicine has doubled in ten years to $234.1 billion dollars, and the most commonly prescribed drugs for aging adults include antidepressants and lowering cholesterol pills. Read other important senior related statistics in this post.
Saving Money on Medications the Wrong Way
In an effort to avoid high medication costs, many of us resort to unhealthy ways to save. Some of the most common ways include sharing medications with others who may have a prescription, substituting prescribed medications for herbal supplements, purchasing medications of the Internet, and switching pharmacies regularly.
The problem with these unhealthy ways to save is that it’s never safe to take a medication that has been prescribed for a friend. Herbal supplements have benefits but cannot replace doctor recommended medications. Internet pharmacies can be dodgy as well as negatively impact health through false pills. Switching pharmacies can lower prices but result in miscommunication and potentially inaccurate drug mixing, especially if you receive one drug from a pharmacy and purchase a conflicting one from another. Another common problem related to medication is simply not staying on top of it, but here are some helpful tips for staying on top of your medication.
Saving Money on Medications in a Healthy and Cost Effective Way
So, how do we avoid spending what feels like millions of dollars of our hard-earned money on prescription medications and still be healthy? We’re here to help with the following four suggestions.
- Go Generic
Brand name drugs are common, but many pharmacies will offer a generic option. This option has the same active ingredients and side effects as the popular medications but can cost on average four times less or approximately 30% to 80% less than its brand name counterpart.
- Speak with your Physician
Some healthcare providers are aware of how much a drug they are prescribing may cost, while others are not. To Save Money, it is recommended to speak with physicians about the current price being paid for a medication and they may be able to prescribe a less expensive, yet equally effecting medication option.
- Discuss Splitting Pills
Prescription medications that come in pill form often cost the same, regardless of size. This means that prescription drugs with 80 mg of a medication can more often than not cost the same as the 40 mg option. Try discussing splitting pills with the pharmacy tech or the prescribing physician to see if medications may be available for this option. If prescribed a 40mg pill, splitting an 80 mg will result in saved money, make the pills last longer and help patients still receive the required amount of medicine.
- Explore Patient Assistance Programs
Most companies that manufacture pharmaceutical medications have assistance programs in place to provide discounts to people who may be struggling to afford their prescription drugs. These programs can help save money and are often free to participate in. Through exploring this option, one can save large amounts of money at the pharmacy counter.
Saving Money on Prescription Drugs
We hope the information within this how-to-guide has helped in continuing good health while saving money on prescription drugs. Through assistance programs, proper money saving techniques, and speaking to doctors, you too can save money on the expense of prescribed medications.
Amy Trenton
Statistic Sources: http://www.cdc.gov/nchs/data/databriefs/db42.htm
