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With the price of medications climbing almost every year, it is a good idea to do a bit of price comparison shopping.
Only 17 percent of people do any form of comparison shopping when it comes to their prescription drugs.
What is surprising is the fact that buying a medication out of pocket might be less than your co-pay with your insurance carrier; a fact pharmacist may neglect to mention or even know.
Another surprising fact is drugs could cost as much as 10 times more at one retailer versus another, even in the same location (city).
Cost of Med Tip – Price isn’t set in stone, ask for a discount or better price.
Often Costco or Walmart’s Sam’s has the best price, but not always. You don’t even need to be a member to buy drugs at either Sam’s or Costco.
Getting the best deal
Shop Online for pricing, GoodRx.com offers “fair price” quotes that you can use to negotiate if a retailer asks for a higher price.
Skip chain retailers, the big pharmacy chains consistently charged the most
Don’t always use your insurance and ask for generics, but keep in mind that you might have a deductible that won’t be counted if you buy out-of-pocket.
Ask for the best price, prices change so check back often and compare with other pharmacies.
According to Consumer Reports, often small independents will quote a lower price though supermarkets may offer reduced costs but not always.
It is usually cheaper to buy in bulk, 90 or 100 (three months) pill supply. You also save on gas as you don’t have to refill as often or wait in line.
Prices vary greatly, so do ask for pricing before filling your prescription and do comparison shopping to acquire the best deal.
Dan
