Pay Less for Prescription Drugs

It is startling to see the price of our medications rise without warning.

“Over the period from January 2022 to January 2023, more than 4,200 drug products had price increases, of which 46 percent were larger than the rate of inflation. The average drug price increase over the course of the period was 15.2 percent, which translates to $590 per drug product.”¹ Depending on one’s insurance, each patient may incur a higher cost out of pocket. Worse yet, if your insurance carrier does not cover the medication, then the burden completely falls on you to cover it.

Although not popularly known, there are some helpful options for both low and middle income households as well as retirees. These can range from assistance programs provided by the drug companies themselves to private entities that offer discounted prices.

I must emphasize that no website or group that you’ll encounter is perfect. You’ll have to price compare amongst groups and organizations, but it is well worth your time in the long run!

Helpful Sites or Ideas for Middle Income, Low Income, and Retiree Households

1. Start by calling the manufacturer of your medication. Many companies offer direct discounts to consumers, especially if you are paying out of pocket!

2. Pharmacy drug savings programs such as Blink Health, Good Rx, RxSaver may provide coupons and tools such as price comparisons between pharmacies to get you the best offer.

3. Pharmacy membership programs provide reduced prices through stores such as CVS, Walmart, Costco, and Walgreens. There might be a low annual fee to enroll in the membership program.

4. Consider mail order and online only pharmacies, but ensure that they are accredited by entities such as the National Association of Boards of Pharmacy (NABP). Here’s a handy directory to confirm accreditation.

5. Private companies such as Mark Cuban's Cost Plus Drug Company offers many medications at prices that are lower than what your own pharmacy can offer since they are able to eliminate any middle men.

Of note, generic medicine often costs less than name brands. However, speak to your doctor to see if the generic medication will be as potent to treat your disease as the brand name drug, esp. since formulations and drug delivery methods differ.

Other Helpful Sites

In addition to the above sites and tips, consider researching organizations, esp. those in the non-profit sector such as:

AcariaHealth, Accessia Health, Good Days, Harbor Path, Healthwell Foundation, Patient Advocate Foundation, Patient Access Network Foundation, Rx Outreach, Partnership for Prescription Assistance, NeedyMeds, The Assistance Fund, National Organization for Rare Disorders.

Each organization’s directives differ, so note that the help they offer varies.

Here’s a website by the Asthma and Allergy Foundation of America that offers more details on many of the organizations above (and will save you some time from going to each of their websites): https://aafa.org/advocacy/advocacy-resources/patient-assistance-medicine-drug-programs/

Great Find!

The Asthma and Allergy Foundation of America has collected and listed tools and databases that may be of interest ²: PhRMA’s Medicine Assistance Tool (MAT), RxAssist Patient Assistant Program Center, SingleCare, BenefitsCheckUp (older adults).

These websites have several handy features from listing patient assistance programs identified to help with your personal needs to negotiating discounts on your behalf!

Tips from a Surgeon

1. Prices for pharmaceuticals can vary at any moment (and so can the special discounts that are being offered), so calling your pharmacy and/or manufacturer periodically to check for recent changes can be helpful.

2. Drug shortages can affect one’s life drastically. The advertised date of availability is at many times inaccurate, so it can be helpful to call the manufacturer on and off again to get a better idea of when your medicine will be available first hand.

3. I can’t emphasize this enough… explore generic options AND ALTERNATIVE MEDICATIONS with your prescribing doctor. You’d be surprised at what possibilities a healthy discussion about your medication can open!

References

1. Bosworth, A. et al. Oct 6, 2023. Changes in the List Prices of Prescription Drugs, 2017-2023. https://aspe.hhs.gov/reports/changes-list-prices-prescription-drugs

2. https://aafa.org/advocacy/advocacy-resources/patient-assistance-medicine-drug-programs/