In 2020, spending on prescription and over-the-counter medications reached $570 billion, which is an increase of 77% from $322 billion in 2010. So if you feel like all your paychecks are swallowed up by your medications, you’re not imagining things!
Unfortunately, a lot of medicines are necessary in your life and you can’t cut them out. But the good news is, you don’t always have to pay an arm and a leg to get them.
If you want to save money on prescriptions, then you’re in luck. We’re here to show you 3 ways to do so!
1. Shop Around
Just because a pharmacy is near your house doesn’t necessarily mean it’s the best choice available. It’s best if you shop around before you fill your scrip since you never know if a pharmacy a few miles over has better prices.
Now, the old-fashioned way to shop around would be to either drive to each location or to call them. Either way, they should be able to tell you the prices they’re charging for your meds.
A quicker way to shop around is to go online. There are many digital search tools that’ll allow you to compare prices between local pharmacies. Once you’ve found one you like, you can also fill your prescription online and either go out to pick it up or have it sent to your house.
2. Find and Use Coupons
Do you clip coupons for groceries? Then you should do so for medications too!
Many drug companies offer coupons, discounts, and rebates. Just hop online and check out specific drug companies’ websites to see if they’re offering anything.
You can also check out the incentives individual pharmacies have as well. It’s common for them to offer medication coupons and discounts to encourage people to fill their prescriptions there rather than elsewhere.
3. Shop Online Pharmacies
Many people don’t know this, but you can buy prescription medication online! Just like everything else you can get online, your medications will be much cheaper. This is because the pharmacies have less overhead (thanks to a smaller need for things like staffing, storage space, equipment, etc.), and you’re able to get the same medications from other countries, which offer them for less.
Just be careful and do your due diligence. There are many scams out there, and if you’re not careful, you might receive placebos, or even worse, medications with harmful ingredients.
Save Money on Prescriptions With These Tips
Knowing you can save money on prescriptions should take a huge burden off of you. Now that you can save a few bucks on your prescription medication, you’ll be able to save up more money. Whether you use it for a fun trip or to pad your nest egg, the extra cash will be comforting to have!
If you liked learning about how to save money on prescriptions, then find more life tips on our blog page now!