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5 Ways to Save Money on Family Prescriptions

5 Ways to Save Money on Family Prescriptions

Expert Ken Majkowski shares his tips on saving money on your family's medicines.

With prescription drug prices on the rise, and insurers dropping coverage of particular drugs every year, costs to families can add up. But there are resources to help a struggling family. Ken Majkowski, chief pharmacy officer at FamilyWize, shares his no-cost and low-cost tips on how to afford medical essentials without breaking the bank.

Always talk to your pharmacist.

Your pharmacist, like all healthcare professionals, cares about your health and wants to best help their customers. Get to know your pharmacist so they can help you find alternatives if you are having trouble affording your monthly prescriptions. Don’t be afraid to do a shop comparison on your prescription and tell them if you find a better price.

Compare prices with your local pharmacies.

There are ways to compare prices that are as easy as the tap of a finger. For example, FamilyWize has a Drug Price Lookup Tool that shows the different pricing for your medications across local pharmacies. It helps you identify the most cost-efficient option. Pharmacies just a few miles apart can have different prices for the same drug, saving you big in the long run.

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Opt for generic drugs over brand names.

According to the FDA, the average cost of a generic drug is 80-85 percent lower than its brand name counterpart. Generic drugs have the same ingredients, dosage, intended use, side effects, and strength as the original drug.

Use the same savings strategies for your prescriptions as you do for other purchases.

Check out the pharmacy counters at big-box and club stores— they may offer better discounts than you can get through insurance. Or, see if your insurer has a preferred pharmacy to get the best prices.

Download prescription drug savings cards and apps.

Prescription savings cards are easy to use and can get you major discounts. The FamilyWize Free Prescriptions Savings Card and app have no eligibility requirements and save people on average 45 percent on their prescription medications, whether you're insured, uninsured, or underinsured.

 

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