Senior citizens are more vulnerable than ever to the effects of inflation. With health care out of reach for many and the cost of prescription drugs steadily increasing, it can often feel like you have insufficient money. You may think you have to choose between eating and staying healthy. Fortunately, there are some things you can do to help get prescription drugs at affordable prices.
1) Go Generic
Generic drugs may be the best way for seniors to save money on prescriptions. Generic drugs are much less expensive than name-brand varieties and may be just as effective. In an October 2004 analysis, the Congressional Budget Office estimated that switching from a brand name drug to its generic equivalent can reduce prescription costs by up to 90 percent.
Many doctors are unaware they can prescribe generic drugs instead of brand names. It is worth asking your doctor if there is a generic version of the medication you are taking. Ask the pharmacist if the doctor doesn’t give you a generic drug. A pharmacist can tell you if there is a generic substitute for your prescription. Doctors often support generic drugs but may have trouble finding the proper cure for each patient. A pharmacist can help you decide if a generic drug will yield the same results.
2) Find Less Expensive Brand Names
There are plenty of available brand name alternatives. The generic versions of these drugs are also reasonable, so you don’t want to pay high prices for brand-name medications. If you don’t see any generic alternatives for the medicines you need, ask your doctor if there is a less expensive brand name option. Doctors will often suggest the brand name variety if the generic alternatives contain a lot of hormones or antibiotics. For this reason, some people prefer to get their prescriptions from more specialized medical providers rather than a general practitioner.
3) Search for Drugs with Low-Cost Coverage
This may be the easiest and safest way to save money on prescription drugs for seniors with some form of insurance. Before you get a prescription filled, check with your insurance company to see if the medication your doctor wants you to take is covered under your policy. If it is, ask the pharmacy if they will call the insurance company and verify that the medication is covered before charging you for it. This way, you will know you are not being charged for a drug your insurance doesn’t cover.
4) Learn About New Government Programs and Drugs
The government offers several programs that may help reduce the cost of prescription drugs. Medicare offers coverage for low-income seniors, while Medicaid provides coverage for the poor. Seniors with drug prices exceeding a certain threshold are eligible for free medication. Also, learn about new government programs as they become available. The Medicare Prescription Drug law of 2003 has a lot of benefits for seniors who need help paying for their medication.
5) Opt for Mail-Order, if Inexpensive and Available
If your doctor prescribes a medicine that can be purchased at your local drugstore, ask if they offer a mail-order service. This is a convenient and affordable way to get prescriptions filled. You will only receive your medicine after filling out an order form, paying for it, and mailing the form back to the pharmacy. The pharmacy will send you the treatment and charge your monthly credit card.
6) Use Coupons
Coupons might not be the most effective way to save money on prescription drugs, but they are a convenient way to do so. Many drugstore chains and pharmaceutical companies offer coupons that can decrease your purchase price by up to 50 percent. You may find that you can save money by purchasing generic medication. If you are on Medicare, you might be able to get free medicines as well. Several sites offer coupons for new drugs.
7) Purchase From Discount Drug Stores
Many discount drug stores offer a selection of both generic and brand medications. The downside is that these outlets usually carry a limited number of drugs so you won’t have many options. However, many drug stores offer a reward card that may save you money and provide rebates. Most often, the discounts are offered through store credit and not a discount off the product’s actual price. An RX discount card may also provide you with a discount on the total cost of your drugs, as opposed to a percentage off.
Conclusion
These steps should help you save money on prescriptions if you are a senior citizen. Buying generic drugs can help cut your expenses in half, and doing so may be just as effective as name-brand medications. Coupons and discount drug stores may be the most affordable way to get prescription drugs. You may even be able to get brand-name medication at a discount through mail order.
