Health is wealth, and thus many people are trying to protect themselves from sickness. However, this responsibility can be pricey, and purchasing medications can get expensive. If you need to have your prescription constantly, purchasing one every time your stock dries out may affect your financial situation.
Fortunately, there are various ways that can help you in saving money when you purchase your prescriptions. If you’re wondering how, here is a list of ways that you can keep in mind when buying medicine.
Go for Generics
If you have just received your prescription from your doctor and found out about its hefty price, you can consider going for a generic instead. Generics or a generic brand is a consumer product not produced by a popular brand. These products are also not usually advertised, so there may be chances that you may not have heard of them before.
The generic is an option for the patients to purchase their medications at a much lower price. You can consider the generic as the counterparts of the branded ones usually prescribed by health experts.
Moreover, people have concerns about the effectiveness of the generic counterpart. One thing that you should know is that generic medications are as effective as branded ones. They have the same essential active ingredient that makes the medicine effective.
So, if you are trying to save money from your prescription, you can ask the pharmacist if they have a generic counterpart. Alternatively, you can also ask your doctor about generic brands before asking for a prescription so they’ll give you one with the generic name of the drug.
Apply for a Prescription Coupon
Like any other items for sale, you can also buy medicine with a coupon. Another way you can save money is by applying for prescription coupons. The prescription savings card allows patients to buy their medication at discounted prices. Fortunately, companies offer several types of coupons for patients, look for sites like BuzzRX blog to know more.
The coupon works by presenting your coupon card to the counter when you are about to pay for your medicine. The discount rate varies depending on the medication itself. Usually, it can go around 80%, a considerable huge amount that can help you save money. You can get yours by signing up and getting your card from companies like BuzzRx. Moreover, you can get yours for free without any requirements like insurance.
Consider Your Options
Considering your options means trying out all in this list and not purchasing medicines right after you spot them. As much as possible, try to think about it first and take your time to deliberate whether this option is the best choice.
Aside from that, you can also first visit several pharmacies to compare prices and examine products. Sometimes some pharmacies sell pricier medicines compared to others. That is why it is recommended not to buy at your first stop.
Seek Patient Assistance Programs
Pharmaceutical companies run Patient Assistance Programs (PAPs) in trying to provide financial assistance or offering free medicines to people who can’t afford them. There are several organizations in the US that offer them, so you can check out if there is one available in your local community.
Furthermore, you can check if your prescription is eligible for the program by looking through the PAPs’ website. You can print the program application form on the same website and mail or fax it to the PAP.
Keep in mind that the PAP covers not all medicines. Still, it would be best if you searched for the branded and generic name of your prescription. Not only that, but you can also apply for all your medication, and not only for the most expensive one.
Buy Insurance From a Reliable Company
For medical assistance, you can always opt to buy insurance. Insurance is a contract that you can purchase from an insurance company. Getting one is a good way for you to manage your risk and protect yourself from unprecedented financial challenges. Thus, when you have difficulty affording your prescription, you can get assistance from your insurance company.
Keep in mind that there are many types of insurance available. In this particular concern, you can buy health insurance. Moreover, if you are trying to understand how insurance works, remember these three keywords: premium, deductible, and policy limit.
Premium
To explain it simply, an insurance premium is an amount you pay for your health insurance policy. It is collected monthly or semi-annually, depending on your contract. You can consider the premium as the price.
Deductible
The deductible is the amount you must pay before the insurer issues their services. So, before the insurer covers the price, your expenses must reach a certain total amount. In this way, it helps in decreasing your risk of having problems financially.
Policy Limit
On the other hand, the policy limit is the maximum amount your insurer will cover or pay under a contract. It is sometimes set by policy term, per injury, or over lifetime maximum.
Final Thoughts
The tips mentioned above can help you with your financial situation when buying your prescription medications. With a little research and asking around, you can get valuable savings that could be spent elsewhere. Lastly, do not self medicate and always ask a health professional for advice before taking any medication.
