Are you spending too much on your medications?

Have you ever been frustrated with how much your medications cost? Here are some ideas that are guaranteed to save you money.
1. If you have insurance that covers medications, obtain a copy of your carrier’s formulary. A formulary can help you know what medications are covered by your insurance plan and which ones have the lowest co-pays (e.g. Tier 1 medications). If you are taking medications that have high co-pays (e.g. Tiers 2 and 3) or are not covered, ask your doctor if he/she can switch you to therapy that is classified as Tier 1 on the formulary. It is important to discuss the pros and cons of each medication before your doctor makes changes to your regimen. You can also ask a consultant pharmacist to investigate less expensive options for you.
2. Ask your doctor if there are medications you are taking that are no longer necessary. Often times, patients will continue taking medications that are refillable even when they are no longer needed. Eliminating unnecessary medications is a quick way to save some money.
3. Choose a pharmacy that is listed as a preferred pharmacy by your insurance carrier. Your co-pays will most likely be lower if you go to a preferred pharmacy.
4. Purchase medications as 90 day supplies when possible. In the long run, you will usually pay less money per year if you pay co-pays or cash for 90 day supplies rather than 30 day quantities. Of course, this is not a good option for certain medications. Also, some insurance companies do not pay for 90 day supplies and some doctors do not write prescriptions for 90 day supplies.
5. Change your lifestyle. Discuss with your doctor some lifestyle changes that may enable you to get off some of your medications.
There are many other ways to spend less money on your medications. Please subscribe to learn about other ways to save money and to have access to articles covering other topics.
Thank you,
Quinn Cannon, PharmD, RPh
Consultant Pharmacist
Owner of Vita Viv, LLC

3 thoughts on “Are you spending too much on your medications?”

  1. I know this web site offers quality based articles or reviews and
    extra material. Is there any other site which offers this kind of
    quality information?

    1. Yes, there are several sites that provide this kind of quality information. For instance, the GoodRx website provides some very good information about financial assistance for medications.

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