3 Easy Ways to Save Money On Your Prescription Meds

By Kat Kasel

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Buying prescription medicine is a part of life, whether it be a one-time thing or you have standing orders every month. But, paying for prescription drugs can be a burden on your finances. Even with great medical insurance, getting your prescriptions can be expensive. And if you have to get them often, you’ll have to devote a ton of money, which could keep you from reaching your financial goals.

And while you shouldn’t let the price of your medication deter you from getting it, it’s important to understand that you do have options when it comes to affording your medication. You just have to know what they are and what you are eligible for. Continue reading to find out three easy ways to pay less money for your prescriptions.

Find a Generic Brand

One way to save money on your prescription medication is to find generic versions of them. Name-brand products are generally more expensive that their counterparts, so you can instantly save money by getting the same product without the name attached to it. Do a little research on what kind of generic brands are available for your medication and see whether or not your insurance will cover it or you can afford it outright.

Buy Your Prescription in Bulk

Getting your medicine in bulk is a great option for saving money on your medication. Even though there may be a larger cost upfront, you’re actually spending less because you won’t have to fill your prescriptions less frequently. So, instead of going to get your prescription every month, you would only need to go every two or three months. Talk to your doctor and pharmacist to see what your options are for getting your medicine in bulk so you can save on costs and allocate the funds that you save to other areas of your life.  

Shop Around for the Best Deals

Did you know that you can find your prescriptions online? That’s right – you don’t have to solely rely on your local pharmacy. You can go to websites like The RX Advocates, tell them what you’re looking for, and they will find the best discounts and assistance grants you’re eligible to use. There are even websites that can ship your prescriptions directly to you depending on where you live. They are the same medicines, but for less, so there’s little risk to you. Do some research and see what your options are for opting into these services.

Bonus Tip! – Devote Funds to a Dedicated Health Account

This tip is a little bit of a cheat, but it’s a good habit to get into. It’s a good idea to open a separate account that you can put money in for medical expenses only. The more you’re able to save, the more you’ll be able to contribute to your prescriptions and medical expenses as a whole. So, while you aren’t technically saving money on your prescriptions per say, you are giving yourself a different option of paying for your prescriptions that doesn’t dip into your main cash flow. But, remember, these funds should solely be for your medical expenses. If you do that, you’ll save more money and see a huge difference in your finances.

About Kat Kasel
Kat is a freelance writer and media associate for a digital marketing company in Washington, DC. She loves reading and writing but 'rithmatic? Not so much.

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