Have Insurance: Can I Lower my Prescription Costs?

Continuing Series: Questions from Consumers …

Health insurance is a lifesaver for many families. Even so, having insurance coverage doesn’t guarantee that your medical costs will be affordable—especially when it comes to prescription medications, which are usually your #1 health care expense. 

Your prescription costs may be high because your plan requires a high deductible be met before you get coverage. Or, your co-pay may be $20/$25 and, if you’re taking a lot of medications monthly, that adds up quickly. Another reason we commonly hear is that your medications are not even covered by your insurance plan. 

And, there’s the common misperception that you can’t do anything to lower your medication costs, if you have health insurance. That’s simply not true. 

At Watertree Health, we are happy to offer the benefits of our prescription discount card to everybody—people without and with health insurance. And, you can use our card to save on your prescriptions right away — there are no qualifications.

The fact is our card complements insurance plans given many policies don’t cover every medication.   All prescriptions – brand name and generic — are eligible for savings with our card. 

Also, a lot of times the discounted price with our card is lower than your co-pay. We have found this to be true for most of the top 10 prescribed medications.  For example, Lisinopril, which is prescribed for blood pressure, is usually under $6 with our card.  And, the average discounted price for Metformin, which is prescribed for diabetes, is less than $6.50.  So even if you have a comprehensive insurance plan, you can benefit from our card. 

In addition to our prescription discount card, here are some things you may want to consider doing to help make your medicine more affordable:

1. Take a closer look at your health insurance plan
Do you have options when it comes to your health insurance plan? If so, you may want to consider a higher premium plan that has more prescriptions covered and/or lower co-pays, if you find your out-of-pocket costs on prescriptions are high each month. You may end up paying less money for your medicine on an annual basis. Contact your health plan or your company’s HR department for help with your evaluation.

2. Talk to your doctor about less expensive options
Find out if there is a cheaper, generic version of your medication. You can also save by getting your doctor to write a 90-day prescription—this should be an option if you’re on a monthly medication.  Or, if you’re only taking a medication for a short time, see if they can give you free samples. Many times, doctors have coupons for medications; just ask. It’s also a good idea to review your list of medications with your doctor, to make sure you’re only taking what you need.

NABP VIPPS seal3. Shop online
Medicine is often cheaper online. However, we would caution you to go to www.fda.gov/besaferx to check and see if an online store is legitimate.  Also, look for the NABP VIPPS seal – it should be prominently displayed on the website. A downside to buying online is that you can’t talk to the pharmacist about side effects, drug-drug interactions, etc.  

Another option is to google your drug’s name plus “discounts” to see if any online coupons, discounts and rebate offers are available.

4. Reduce your need for prescriptions
Some conditions can be improved by lifestyle changes. Could changes in your diet or exercise habits reduce your need for medications? Would vitamins or non-prescription supplements improve your condition? But always remember, never stop taking your current medications without speaking to your doctor first.

The tips that we’ve listed in this blog could add up to substantial cost savings. But, if you are still unable to afford your prescriptions, please visit Partnership for Prescription Assistance. This organization may be helpful in matching you with programs that partially or fully cover the cost of your medications. 

Don’t let the cost of a prescription be the reason you don’t have it filled or take it properly (i.e., ration the pills, etc.).  Taking your medicine as prescribed improves your overall health and wellbeing.

For more tips on how to lower your prescription costs and to download a pamphlet that includes them all, go to WatertreeHealthCard.com/prescriptionsavingstips

If you are on a medication and you need help affording the prescription, download a free Watertree Health Prescription Discount Card or request a card be mailed to you. It provides significant discounts on almost all recommended medications (brand and generic). Most experts agree, taking your medicines as prescribed improves overall health and wellbeing and lowers cost of health care for everyone. 

By WHBlogger 
10/15/2014 

Instructions and Disclaimer: The content on this website is designed for informational purposes only. It is not intended to be a substitute for informed medical advice or care. You should not use this information to diagnose or treat any health problems or illnesses. Always consult your healthcare provider with any questions or concerns you might have regarding your health. 

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