Did you know people aged 65 or older take 14 to 18 prescription medications a year, on average? If you’re paying a lot for medications, scroll down to check out five easy tips to save money and lower drug costs.
1. Switch to Generics
On average, generic drugs cost 80 to 85 percent less than brand-name medications. While the FDA requires generic drugs to have equal quality and performance as brand-name drugs, there may be subtle differences. Always be sure to check with your doctor before making any changes.
2. Try a Mail-Order Pharmacy
Cost-effective and convenient, mail-order pharmacies are another great option. You can save money on most medications and get a three-month supply delivered right to your doorstep.
3. Find a New Plan
It’s possible your current Medicare plan for prescription drugs isn’t the best one for your needs. To learn about other choices, use the Medicare Plan Finder on Medicare.gov.
4. Call the Drug Company
Some pharmaceutical companies employ policies to help seniors afford their medications. Find out if you’re eligible by looking up your prescriptions on the Pharmaceutical Assistance Program on Medicare.gov.
5. Compare Prices
Apps and websites like RxSaver (rxsaver.com) make it easy to find low prices on prescriptions near you. Enter your info to compare prices at different pharmacies, choose the best option for you and instantly save up to 80 percent.