How to afford your meds and support your health | Local Business

What you pay depends, among other factors, on medicines, pharmacies, insurance plans, and deductions. Drugs that may have been cheap or at least affordable the last time you met it may be much more expensive or not covered at all next time.

In many cases, people don’t know the cost of a prescription until they reach the pharmacy counter, says Leigh Purvis, Head of Medical Expenses and Access at AARP’s Institute for Public Policy.

Still, it’s important to find a way to afford your medicine. People who do not take the medicine as prescribed because of the cost can get sick or die.

“Potentially smaller problems today, such as hypercholesterolemia, can turn into much larger problems, such as heart attacks, if left untreated,” says Purvis.

Doctors have dozens of insurance plans with different prescription drug lists and drug lists, so they may not know the cost of the drug and how to cover it, Purvis explains. In addition, insurance companies may trade with certain pharmacies, so a drug that costs $ 60 at one pharmacy can cost $ 160 at another pharmacy.

If it is difficult to buy a drug, your doctor may be able to suggest alternatives, such as generics or other types of medications. Two other questions you can ask: Do you still need the medicines you have been taking for a while, and what lifestyle changes may reduce or eliminate the need for prescriptions?

If you have insurance, carefully check your medication coverage options each year at the time of general enrollment. The period of the fall that year when choosing health insurance for the next year. Make a list of all medications and their dosages and see how they are covered in each plan. Insurers change their prescriptions on a regular basis, so you may need to switch plans to get the best coverage. And even if your medication is covered, you usually have to pay from your pocket for a prescription until you reach your deduction.

Your insurance company or pharmacy may offer mail-order options to reduce costs, but don’t assume it’s your best option. Shopping can save you a lot of money.

Start your search online. In recent years, the number of online pharmacies has exploded, increasing the opportunities for savings.

Amazon launched a full-service pharmacy in 2020 and joined more established pharmacies such as Costco.com and HealthWarehouse.com. In addition to these, several limited-service start-ups such as Cost Plus, GeniusRx, Honeybee, Ro Pharmacy and ScriptCo offer generic drug trading.

According to consumer reports, startups aren’t usually insured, but their prices can be lower than normal out-of-pocket costs. For example, a consumer research organization has found that a 30-day supply of 20 milligrams of atorvastatin (cholesterol drug) ranges from $ 14.60 on Amazon, $ 13.99 on Costco.com, $ 3 on Honeybee, and just 54 cents on ScriptCo. I found. In contrast, according to KFF, a nonpartisan healthcare think tank formerly known as the Kaiser Family Foundation, workers’ insurance burden covering prescription drugs averaged last year for the cheapest drugs, including many generics. It was between $ 11 and $ 12.

Savings may be offset by membership fees. Amazon’s prime membership (required if you need the lowest price) is $ 139 a year or $ 14.99 a month, while ScriptCo is $ 140 a year or $ 50 a quarter. Costco has an annual membership fee of $ 60, but you don’t need to be a member to order prescriptions online or at a warehouse store.

GoodRx has a website and app that allows you to compare prices at nearby chain pharmacies and offers free coupons that offer up to 80% off the list price. NeedyMeds has another price comparison tool that includes a local pharmacy. This is a non-profit organization that helps people find ways to reduce drug manufacturing discount programs and other dosing costs. In addition, some chains such as Walgreens, Walmart, Kroger and HEB have discount programs.

One alternative that is often overlooked by Medicare beneficiaries is an extra help program aimed at helping older people with limited income and resources pay for medicines. You can apply online or by calling 800-772-1213.

Finding the best price can take a considerable amount of time and effort. Purvis warns that people who are willing to buy the cheapest medicines may face hidden risks if they take multiple medicines from different pharmacies. If one pharmacist does not supervise their care, they run the risk of potentially harmful drug interactions.

You can use an online drug interaction checker like WebMD, but ideally ask your doctor or pharmacist to check the complete list of medicines at least once a year.

“It’s really important to make sure someone is looking at the big picture,” says Purvis.