Prescription medicine is not an expense you should skip for the sake of your budget. You should never put your health at risk to save a little bit of money.
If you’re finding that prescription medications are too expensive for your liking, these are some small changes that you can make to trim your spending.
Follow the Instructions:
One of the simplest ways to spend less on prescriptions is to take them as instructed. When you ignore your pharmacist’s instructions, you’ll drag out the recovery process and increase the overall costs. For example, it’s common for people to not finish a round of antibiotics while recovering from an infection because they feel better. This is a mistake because it increases the risk of the infection returning and requiring another round of antibiotics.
Listen to your pharmacist and read the prescription label carefully. Take them properly the first time, so you don’t have to buy them all over again.
Whenever a doctor prescribes you a medication, ask them if they’re prescribing you the “generic” version. Generic drugs will have the same components, side-effects, and results as their name-brand counterparts, along with much smaller pricetags.
Use a Discount Program:
Discount programs like GoodRx, Medco and RxAssist will offer you lower rates for your prescription medications at various pharmacies across the country. This is especially useful when you’re taking on multiple renewable prescriptions throughout the year.
Buy in “Bulk”:
Are you taking an ongoing prescription? The next time that you order a refill, get it in bulk. You’ll save a little bit of money getting a single three-month order instead of a one-month order three times in a row.
Look for Long-Term Solutions:
Prescription medication may not seem like much of an expense when you use it temporarily. But what if you need it for months—years, even? That adds up.
If you want to save money on prescriptions, you could look for solutions that cost less in the long run.For instance, the birth control pill is a frequent prescription that many Americans pay for. While the birth control pill is a more cost-effective option in the shortterm, a contraceptive like an intrauterine device could yield more savings in the long run.
An IUD can be effective for 5-10 years. It can cost between $400-1000. Birth control pills can be $50 per month. In 5 years, that will cost $3000. In 10, that will cost $6000.
Talk to your doctor about alternative treatment options for your issues.
Prepare for Emergencies:
Sometimes, your prescription needs will come out of the blue. You’ll suddenly get sick or injured and need a prescription to recover. To make sure that your budget can always handle this expense, you should put together an emergency fund.
Emergency funds are stashes of personal savings that you can rely on in these difficult circumstances. Withdraw the necessary savings from your fund and get your prescription paid for out of pocket right away.
What if you don’t have enough in your fund? If you don’t have the savings available, you could try applying for an online loan and using the borrowed funds to cover the expense. Once you’ve made the purchase, you can direct your attention to a steady repayment plan.
When browsing online loan options, specify your location. So, if you live in St. Louis, you’ll want to search for online loans in Missouri specifically. Now you can be sure that the loan is available to citizens of your home state. You don’t want to waste your time applying for an online loan that isn’t accessible in Missouri. That will only add more stress to an already stressful situation.
Whatever you do, don’t ignore the prescription to save money. It’s not worth the risk.