How to Control the Cost of Prescription Drugs

Even if you have prescription drug coverage, chances are it pays only a portion of the total cost. Learn how to keep the costs of prescription drugs under control.

Ask for Generics: Don’t be afraid to ask your physician to prescribe a generic if it is available. The cost is often a fraction of the brand-name version.

Evaluate Efficacy: Just because a drug is new doesn’t mean it is any better than older versions. In fact, research indicates that 40% to 80% of new drugs duplicate existing drugs. Unless only the new version can meet your specific medial needs, ask your physician if an older equivalent will meet your needs instead. There is often a substantial savings to be gained by using older equivalents.

Contact the Pharmaceutical Company: Most pharmaceutical companies provide low-cost drugs to those in need of financial assistance. Many local, state and not-for-profit organizations also help cover drug-related expenses, especially for the elderly or those with low incomes, special needs or chronic health conditions that require high-cost prescriptions.

Practice Prevention: Keep the lines of communication open and practice preventative measures to stay healthy. Doing so not only will help reduce your dependence on expensive medications, but will often minimize the complications and side effects associated with prescription drugs.