Health Insurance: Finding The Best Prices For Medication

Pharmaceutical companies bring in ridiculous profits from their sales each year

. Even generics seem to be more expensive than ever, with most pharmaceutical companies delaying the release of a generic medication by repeated lawsuits.

For example, the generic of Provigil was to be released in 2010. Come 2012, it is finally released- at half the price of the name-brand pill. While this may seem like a great deal, each pill is still at least $3.50 each, keeping individuals who truly need this medicine from benefiting from it.

This is just one of far too many examples of unaffordable medication. While there may not be a great solution to cut the cost of this and other medications, there are in fact ways to reduce the financial burden of taking medication.

Individuals with insurance often have the luxury of paying affordable co-pays for medication on the formulary. However, more and more medicines are now non-formulary, leaving patients to fit the bill.

In this case, ask the prescribing physician if there is a less-expensive alternative to the medicine. Often times there is, but unfortunately not always. While often the first choice of the physician is the best choice, it does you no good if it leaves you homeless or without food.

Try the mail order service offered by the insurance company. Though this requires planning in advance, prices are reduced and medicine is delivered right to your door. For this option, a script for a three-month supply of medication must be specifically requested from the prescribing physician.

It is shocking how much prices vary between pharmacies. While it is certainly ideal to keep all your medications at one pharmacy, this is simply unaffordable much of the time. In fact, in Indiana, Mirapex costs $3 per pill at one pharmacy, and 40 cents per pill one hour away! To add insult to injury, these prices are from the exact same pharmacy chain!

Needless to say, be sure to do your research before refilling your medication. While it may take some time to find the best price, this is almost always time well spent. Even with the cost of gas today, it may behoove you to call pharmacies up to one hour away to compare prices. Be sure to have the script or prescription bottle handy to ensure that you are requesting a quote on the proper quantity and concentration of medication.

Don't bypass the department stores and groceries. Some literally offer specific generic medications for free. Others have $4 prescription programs that sell certain generics for this price. Still others print coupons in the Sunday paper offering $20 for any transferred prescription. (First obtain a quote on the medication to ensure that you really are getting a good deal, otherwise you may end up paying more than previously.)

Anyone without health insurance should ask their pharmacist about a county prescription drug card. Offered free of charge, these discount programs can significantly decrease the cost of many medications.

by: Casey Trillbar

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