Six simple ways to save money on prescriptions
We bet you don’t know all these tips
Everyone loves to save money. But you might think you’re limited when it comes to the prescription medications you need. Think again!
Here are six easy ways to save money on your prescriptions:
1. Sign up for home delivery
Home delivery is a safe and convenient way to get the prescription medications you take on regular basis. Express Scripts® Pharmacy offers free standard delivery in weather-resistant packaging. And specially trained pharmacists are available 24/7 from the privacy of your home. Plus, it’s easy to transfer your prescriptions.
2. Opt for a 90-day supply
For routine medications, many pharmacy plans offer a 90-day supply for a lower copay — which can add up to significant savings over the year. Be sure to tell your doctor so they can write your prescription for a 90-day supply.
3. Go generic
Generic medications have the same active ingredients as brand-name medications. Many plans offer lower copays when you use a generic — and some may even charge you a penalty if you choose a brand-name version when a generic equivalent is available. It’s a good idea to regularly review your medications with your doctor or pharmacist and ask if your medication is now available in generic form.
4. Stick to preferred pharmacies
Try to stick to pharmacies in your plan’s preferred network. Most networks are broad and offer many options — including home delivery and retail locations. As we mentioned before, home delivery is your best option for routine medications. For one-time medications or those you need the same day they’re prescribed, look for an in-network retail pharmacy. You’ll save money if you make sure your pharmacy is in your plan’s network before you fill your prescription.
5. Check out discount programs
If you’ve lost your prescription drug coverage or you’re just struggling to pay for the medications you need, prescription discount programs can help. These programs offer deep discounts on thousands of prescription medications by working with drug manufacturers directly, which helps keep costs down.
6. Use your FSA, HSA, or HRA
If you have a healthcare flexible spending account (FSA) or health savings account (HSA), you can use the money in those accounts to pay for your prescriptions. Both of these account types let you set aside money before taxes. You can then use those tax-free dollars to pay for eligible healthcare expenses, including prescription medications. Anything you pay out-of-pocket for your prescriptions, such as deductibles and copays, is reimbursable with money from those accounts. With a health reimbursement arrangement (HRA), your employer puts money into the account and decides which expenses are eligible for reimbursement. So you’ll want to check with your employer to see if prescriptions are on the list.
As you can see, there are many opportunities to explore and ways to save money on prescription medications. Happy savings!
Posted date: August 20, 2021
Updated: August 2, 2022
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