Save on Prescription Costs
Health costs in the United States of America are spiraling up
out of control. There is no reason for a brand name pill cost
$20 a pill, when almost everywhere else outside teh US, the same
companies are selling same medication for a fraction of that
price. There is something to said about government
regulation when it comes to people's health and lif e is at
stake. Don't think that you have insurance , so you don't
have to worry about cost of prescription drugs. Your co-pays
would keep spiraling up the same way the cost of drug is. Every
chance they get, employers would find a way to boost
co-payments and placing restrictions on what medicines are
covered under company insurance plans. And though Medicare Part
D has helped pay for millions of prescriptions, many seniors
still struggle with the cost of their medications. Until we wake
up and find some way to control the prescription prices without
calling it socialism, we have to find ways to save money to cut
down the cost of procuring medication.
Pharmacies, drug companies and Web sites are helping cut the
costs they helped to creat in the first place. But rather than
blaming the system, lets try to get any saving that we can get.
Here's what you need to know to get started on trimming your
medicine bills:
Check your policy, if you have one. If your health insurance
covers prescription drugs, it may have lower co-pays for generic
drugs. A typical co-pay is $10 or $20 for a generic prescription
and $25-30 or more for a brand-name version.
Ask your doctor, if he would prescribe a generic version of the
medication. Ask whether a prescription is necessary. There are
plenty of over-the-counter medications that often work as well
as their prescription counterparts. Some of these OTC remedies,
such as Claritin for allergies or Prilosec for heartburn, were
once prescription-only.
Many insurers have arrangements with mail-order pharmacies that
allow patients to get three-month supplies of many
"maintenance," or long-term, medications, either at a discount
or with lower co-pays -- one or two months' worth of co-pays,
for example, instead of having to pay for all three months. Your
policy also may cap how much it will pay out annually for
prescriptions or pay only for drugs on its formulary, which is a
preferred list of medications.
Ask about drug alternatives. If a prescription is necessary,
find out first if there is a generic version that might work for
you. Generics are basically former brand-name drugs whose
patents have expired. The average prescription for a generic
cost $29.82 in 2005, according to the National Association of
Chain Drug Stores, while the average brand-name prescription
cost $101.71.
There isn't always a generic equivalent. That's where "pill
splitting" can come in handy. Since increased dosages of a drug
often don't cost substantially more, your doctor can in some
cases prescribe a larger pill that you can slice using a
splitter available for $5 at most pharmacies. Not all pills can
or should be split, though, and this is not a do-it-yourself
project. Talk to your doctor first.
Other OTC medicines have a long history of effectiveness.
Consumer Reports recently noted, for example, that
nonprescription drugs containing antihistamines -- such as
Benadryl, Nytol, Sominex, Tylenol PM and Unisom -- can be just
as helpful for occasional sleeplessness as more heavily promoted
(and expensive) prescription medications such as Ambien, Lunesta,
Rozerem and Sonata.
If you're overweight, don't get enough exercise, eat a lousy
diet or constantly are stressed, fixing those issues also can
save you a bundle in the long run.
Don't feel shy about asking your doctor for samples. If
there's no generic equivalent, your doctor may be able to supply
you with enough free samples of a prescription drug to at least
reduce your costs somewhat. Most physicians have a closet full
of prescription-drug samples, thanks to free-handed drug
vendors.
Shop around. Once you've got your prescription in hand, a little
time spent on the Web and on the phone can save bundles of
money. By the way, you should put as much or even more effort
into shopping for your generic prescriptions as you do for your
brand-name ones. The price you pay for a generic can vary by 80%
or more, depending on where you buy it, while a brand-name
drug's cost typically varies by only 10% or so.
Take advantage of the generic-drug price war. Kmart and Wal-Mart
kicked off the trend, and now it's spread to other big chains.
Wal-Mart, Sam's Club and Target offer hundreds of generic
prescriptions for $4 a month while Kmart offers more than 200
generic prescriptions for $15 for a 90-day supply.
Prices may be higher in some states; California, for example,
has a law against pricing drugs below their cost, so some
prescriptions on the list will be more expensive there.
Look for coupons and deals. Head to a brand-name drug's official
Web site to see whether there are coupons or other rebates
available.
Use your flexible-spending plan. These workplace plans allow you
to put aside pretax money to pay for health care and medicines.
(Over-the-counter drugs are often included; ask your
human-resources department for details.) You have to estimate in
advance how much you'll spend, and you must use up the money
before the plan's year ends, or you'll lose it. But every $1,000
you contribute saves you $250 in taxes if you're in the 25%
federal tax bracket, so it's a great break for many families.
There is however a downside to this. You must guess very
accurately as any money left in the account at the end of the
year will be gone.
Sign up for prescription assistance. If you're low income, you
may qualify for discounted or free drugs from a patchwork of
state, nonprofit and drug-company programs. One place to start
looking is the Partnership for Prescription Assistance. Other
resources include NeedyMeds, the American Society of
Health-System Pharmacists, the Eldercare Locator and the Access
to Benefits Coalition.
Go to Canada or Mexico. There's no question many drugs are
significantly cheaper north or south of the border than they are
in the United States. The problem is that it's against the law
to "re-import" drugs made in the U.S. and sold outside our
borders. (A "personal use" exception exists only for drugs that
aren't approved for use in the U.S.) Of course, the legal
restrictions don't stop millions of Americans from crossing the
borders for drugs, but the U.S. Food and Drug Administration
cautions that there are potential safety issues. Consider
yourself warned.
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