Medication Money Saving Tips

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Medicine can be one of the most expensive things we need to purchase at any point.  Some medications can cost over a grand (thank goodness for insurance) while others can be as low as free or a $5 co-pay.  There are ways to save on medication, which in the end can save you a ton of money since it is usually so expensive!

  • When your doctor has to prescribe you anything, request that they prescribe the generic version.  Generic medications can cost several hundred dollars less to purchase annually than the brand-name version of them.
  • Find the lowest-cost place to purchase prescription drugs.  You should check out any local pharmacies, supermarkets that have pharmacies inside (such as Kroger, Target, Publix, etc.), discount centers and mail-order pharmacies.
  • You should also try to purchase store-brand over-the-counter medications and vitamins when you can.  There is absolutely nothing wrong with store brand, and they are significantly cheaper than name brand.  For example, CVS/Pharmacy has CVS brand prenatal vitamins for about $5 a bottle, and they often go on sale as a BOGO (buy one, get one free) deal making them about $2.50 per bottle.  Brand name prenatal vitamins can be as expensive as $20 a bottle.  I prefer saving that extra $15.00 if I can!
  • Something else pretty great about CVS/Pharmacy is that they have a pharmacy rewards program.  If you purchase 10 prescription medications from them, you get $10 in extra care bucks (store currency).  That’s not bad if you get the generic version and only pay a small co-pay each time!  If you do not have a CVS in your area, check out your other pharmacies and see if they have a similar program!
  • By switching to the generic brand of medications and vitamins, you can easily save over $100 a year.

Do you already incorporate all these tactics into your money saving routine?  If not, test a few of these out the next time you need to purchase medications.

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