Saving at the Pharmacy

Prescription Drug Costs in the U.S.
According to the American Pharmaceutical Association, about 46 percent of Americans take one or more prescription medications. The cost of prescription drugs is rising rapidly. Between 1993 and 1998, overall health care costs in the U.S. rose about five percent each year. But the cost of prescription drugs grew an average 12.4 percent every year. In fact, according to Consumers Union, drug prices are rising nearly two-and-a-half times faster than the U.S. Consumer Price Index. Today, prescription drugs account for about 10 percent of all health care costs.
The problem is more critical among older folks. Roughly 65 percent of Americans over 50 take a prescription drug, often for chronic medical conditions, such as high blood pressure, heart disease, or high cholesterol. Senior citizens represent about 12-13 percent of the population. Yet, according to the American Association of Retired Persons, they account for one-third of all money spent on prescription drugs. In 1999, the average prescription drug cost for seniors 65 and older was slightly less than $1000. But some seniors without prescription drug benefits spend thousands of dollars for out-of-pocket drug costs.

Reducing the Cost of Prescription Drugs

Drug companies say they are justified in charging high prices for prescriptions because the cost of developing new drugs is significant. While health care advocates and legislators debate about the high price of medications, there are some things you may be able to do now to save some money at the pharmacy. Review all your current medications – including over-the-counter drugs, vitamins and herbs - with your doctor and pharmacist. This is especially important if you see more than one physician. Some medications may no longer be needed. Others, when taken together, may interact and cause side effects that are misconstrued as another medical problem.
When possible, ask your doctor to prescribe generic versions of brand name drugs. Generic medications often cost considerably less than their brand name counterparts and are just as safe and effective. Even if you have a prescription plan, your co-pay is often less for a generic drug. Often the newest medications are the most expensive. Ask your doctor if an older established (and often less costly) drug will work just as well.

Some medications come in different dosage strengths, but the cost differences between the two doses is minimal. Ask your doctor if it’s possible to purchase the higher dose and cut the pill in half. For example, if a 10 milligram pill costs $20.00 for a 30-day supply and the 20 milligram dose is $22.00, you may be able to use a pill splitter to break the 20 milligram dose in half. You still get your 10 milligram dose, but stretch your supply for two months, almost cutting your costs in half. Pill splitters are sold at pharmacies for just a few dollars. A word of caution – some medications aren’t designed to be split, such as capsules and timed-released drugs.

If you take medications for a chronic condition, chances are you need them for a long term. If you have a prescription plan, find out if you can order bulk supplies through the mail. It’s often cheaper to order a 90-day supply through the mail than to purchase a 30-day supply through your pharmacy. Look into some of the internet pharmacy sites to comparison shop for prices. Just be sure to order from a Website carrying the Verified Internet Pharmacy Practice Site (VIPPS) seal, which assures consumers the site is licensed and meets regulatory standards.

Pharmacists recommend you purchase all your medications from the same drug store so one place keeps track of all your medications and monitors your prescriptions for possible interactions. But that doesn’t mean you can’t comparison shop locally. If you find a prescription for a lower price at another drug store, ask your pharmacist if he/she will match the price. If not, you can still purchase it elsewhere. Just make sure your regular pharmacist adds the drug to your patient profile.

Sometimes physicians get free samples of drugs from pharmaceutical companies. Your doctor may be able to give you a week’s supply or so to cut your costs. This is especially helpful if you’re starting a new medication that may have side effects. (If you purchase a 30-day supply from the drug store and find out after a few days you can’t tolerate the drug, you’ve wasted the rest of the medication.) However, free samples can have a downside. Often these drugs are the newest and most expensive medications. If you use the free samples and continue taking them, you can wind up paying a lot more for a continuous prescription than if you had purchased a lower cost medication in the first place.

If medication costs are wearing you down, don’t be afraid to talk to your doctor and ask for suggestions. Health care experts caution against skipping doses or taking left-over medication as a way to save money. If your self-imposed treatment doesn’t work, your doctor may end up prescribing even more medication to control your condition. You could also experience a dangerous side effect or serious worsening of your problem.

More Information
For tips on how you may be able to reduce your costs for prescription medications, talk to your doctor or pharmacist. The Website, http://www.pillbot.com, compares drug costs of several Internet pharmacies to help you find the best on-line cost.