Saving money on drugs

As a consequence of the increase in the global petrol price, our nation’s petrol price also committing with the global trend. Inflation that in rise had no doubt burdened the living of all of us. However we do not want to compromise with the quality of life we are leading now.

It’s natural to search for ways to cut costs. Aside from adapting frugal living, there is one way that we can cut our monthly expenses by more than a quarter, which is saving money on drugs. This can especially applied for those who are on medication or in long term treatment of multiple medicines.

How can I save money on drugs?
Following your doctor’s orders is getting more expensive all the time. From 1997 to 2004, what Americans spent on prescription drugs more than doubled, form $429 to $1,037 per person. Fortunately, there are several ways to save money on medicine without putting your health at risk. Here are some of the major ones:

Ask your doctor about generics
Generic drugs contain the same active ingredients as their brand-name counterparts at a fraction of the price. A simple switch could cut your bill by 20 to 60 percent. Unfortunately, not every drug has a generic equivalent. In addition, some doctors prefer to stick to brand names in cases out of habit. However, generic drugs are safe and effective for most conditions.

Apply for drug discount card if there is any
Different plans have different pricing structures based on the discounts each program has negotiated for its card holders. If you aren’t sure what will cost the east, ask your pharmacist for help.

Shop around
The prices of prescription drugs and over-the counter drugs can vary wildly from one pharmacy to the next. Shop around and compare the price before the purchase. Over the time, you will be surprised how much you have saved.

Buy in bulk
If certain drug is part f your daily routine, you might be able to save money by purchasing more than a month’s worth of medications and supplies (if your health plan allow it). Keep in mind that some drugs don’t keep well. Talk to your doctor or pharmacist before stocking up, and take the expiration dates on your medicine seriously.

Consider mail order
Mail-order and internet pharmacies are inexpensive, convenient, and can help you save money on drugs. Logic explanations are internet pharmacies will free or charge less on the rental, utilities and labor expenses unlike the conventional retail drugstore. But take the normal precautions: Make sure the pharmacy is licensed; don’t order medication without a prescription; and stay away from foreign companies. Medicines manufactured in other countries are not FDA-approved and bringing foreign pills in to the country or having them delivered to your house is technically illegal.

Check your insurance
Many private insurance plans will cover part or all of the cost of medications. Be aware the most plans have a list of ‘approved’ drugs that they will cover. If the drug you take isn’t on the list, ask your doctor if you can switch to one that is. Your doctor can consult with plan’s representatives about why you need to make the switch.

Take your medicine properly
If you skip doses or otherwise stray from schedule, your disease could worsen, potentially leading to even more prescriptions and more expenses. Mismanaged medication can even cause permanent damage. And that’s a price no one wants to pay.

Wish the saving tips on drugs above have some healing effects on your wallets.

Remember to smile =)

References:
http://www.ahealthyme.com/topic/medsaving

Editted by Jasmine Yap