20 ways to cut prescription costs

From Women’s Day magazine

1. Try to reduce the number of meds you're taking. If you've been on a drug for a long time, ask your doctor whether you still need it. Or, if you're taking several drugs for different problems, your doctor may be able to prescribe a combination pill to effectively treat multiple ailments.

2. Ask about generic drugs. Don't assume that your physician knows that you're uninsured or are having trouble paying for your prescriptions. Speak up, and let him know that you'd prefer the best value medication that he can prescribe—generics can cost 30 to 80 percent less than their brand-name counterparts.

4. Ask for the cheapest form of the medication. You'd be surprised, but there can be a significant price difference depending on whether the drug is manufactured in gelcap, tablet or capsule form.

5. Ask about splitting your pills. Ask whether it's possible for your doctor to prescribe tablets that are double the dosage of the ones you are taking. By halving each tablet with a pill-splitter, you can get twice the number of pills for essentially the same amount of money (the price difference between different dosages of the same drug is usually very small). However, keep in mind that you can’t do this with every medication or every form (for instance, extended-release forms, capsules and gelcaps cannot be split).

6. Ask for samples. Your doctor may have free samples of the drugs you're taking. These are brand-name pills that drug manufacturers give doctors to help promote their product—but keep in mind that when it comes time to fill your prescription, you may save more money by getting a generic version. Also, make sure that you inform your pharmacist that you're on a new medication, so he can alert you of any potential interactions.

7. Comparison shop. This is especially crucial if you're uninsured or underinsured. Depending on the size of the pharmacy and the size of their order of a particular drug, the final cost can vary by as much as 50 percent. Prices may even vary at individual pharmacies that are part of the same chain. Shop around to find out which store has the lowest price, or ask your regular pharmacy to match the prices given by its competitors. If you’re taking more than one drug, it may be cost-effective to buy different medications at different locations—but make sure that each pharmacist is aware of all the medications you're taking, so you can stay abreast of potential interactions.

8. Consider a switch. Ask whether a pharmacy will offer a discount for transferring your prescription from another drugstore. Just like long-distance providers and credit-card companies, pharmacies will often reward you for your business.

10. Shop online. But use reliable, credible pharmacies. In 2006, the Consumers Union (which publishes Consumer Reports) did a price comparison of common prescription drugs. The median cost for generic drugs at Internet pharmacies was 34 percent cheaper than the median cost at large drugstore chains. Even buying through the website of a large chain (such as cvs.com or walgreens.com) may offer better prices than purchasing in-store. However, don't do business with any site that doesn't display the VIPPS (Verified Internet Pharmacy Practice Sites) seal. You can also go to pharmacychecker.com, which lists sites that require prescriptions, use encryption technology to safeguard your information, and display clear contact info and privacy policies.

12. Purchase in bulk. If you take certain medications on a regular basis, bulk-buying can be significantly cheaper than buying month-to-month. Your pharmacist can tell you whether it's possible to get a longer-term supply. Most insurance companies also have mail-order programs that allow you to receive multiple months' worth of drugs at a time. You can usually enroll by logging on to your insurer's website or contacting your employer's benefits department.

13. Ask about OTCs. Check with your doctor to see if an over-the-counter drug might work as well as a prescription, especially if you're uninsured. However, if you are insured, check that your prescription copay isn't actually cheaper than a supply of OTC medication.

14. Get your discounts. If you're on Medicare, check whether you're a candidate for special discounts for low-income beneficiaries with the new Part D coverage. You can find a list of these programs—offered by more than 40 states—as well as a brief rundown on eligibility at the Medicare Rights Center's website. Click on "state prescription drug assistance programs." If your state doesn't offer a program or you need more assistance, click on "help paying for prescriptions" for a list of charity, discount and government programs.

15. Sign up for discount cards. A store-associated or government-associated discount card can lower the price of your pharmacy bills by 10 to 25 percent. Many pharmacies offer discount cards even if you’re not insured, and regardless of income, usually for free or a small fee. State and government agencies also offer free discount cards, but eligibility is usually based on age or income. However, not all drugs are eligible for markdowns, so make sure your medications are on the discounted list before you enroll. And don't sign up for discount cards with a telemarketer or by replying to spam e-mail—there are plenty of scams out there.

17. Visit your drug's website. You may find rebates, coupons or free sample offers. You can usually find the drug's site by just doing a quick Google search of the medication's name. However, keep in mind that these are typically one-time savings offers for new prescriptions.

18. Try a wholesaler such as Costco. Don't want to cough up the money it costs to join? Don't worry—you can get your prescriptions filled there even if you're not a member (though you may be charged a small fee). You'll just have to resist the urge to grab any impulse purchases on the way to the cashier.

20. Store drugs properly. Make sure those expensive pills don't break down or lose potency before the expiration date by keeping them in a cool, dry place.