Getting the Medications You Need For a Price You Can Afford

“Hey I have some bad news, your insurance denied coverage for this medicine.” This phone call from one of my doctors was the launching point for me researching how to get expensive prescription medication for a reasonable price. Up until then if a medicine wasn’t covered there was an alternative that worked. This time there wasn’t a great alternative. So I went on a hunt to figure out how I could get it at a price that met my budget and along the way I found lots of other ways to save on other prescriptions.

Here are my top tips on how to save on your medications.-

1. The easiest and most straightforward way is to talk with your insurance or use their online portal to compare prices. Just because a medication is covered by insurance doesn’t mean it will be the same price at every pharmacy, different pharmacies often have different contracted rates with your insurance. It also is often cheaper to get a 3 month supply of your medications delivered then it is to get a month supply at your local pharmacy. You can find out what pharmacy your insurance uses for delivery by calling your insurance.

2. The next and most common way to get your prescription discounted is by using GoodRX. GoodRX offers discounts on most medications and depending on what pharmacy you use the deeper the discount. This works especially well for generic medication.

3. Another newer option for many common generic drugs is Cost Plus Drugs. This online company, founded by Mark Cuban, offers medications at an affordable price. You can view what medications are available through them as well as find out how to get started at costplusdrugs.com .

Those top three are the easiest and most common ways to get your generic medications discounted. For name brand meds there is a completely different method.

1. The first and most straightforward is using a copay assistance program through the manufacturer. Many companies offer a copay assistance program for patients whose insurance provides some coverage of the medication. These programs often drastically reduce your out of pocket cost and in some cases bring your out of pocket cost to $0. Most brand name medications have their own website in which you can find information about their copay assistance program and eligibility. If you qualify they will give you a card that you give to your pharmacy.

2. If your insurance denies coverage of the medication your first step is going to be to appeal their decision. Check out this blog to learn from my mistakes on appeals.

3. If your insurance continues to deny coverage or you don't have insurance, then many brand name medications offer a program for low income patients to receive their medications for free. Again you typically find this program, if it exists, on the manufacturers website. There is often an application that you and your doctor fill out together. Keep in mind, most of these programs require you to max out your appeals with your insurance company before they will consider providing the medication for free. If you are approved then the company will ship you your medication.

Getting medications for a reasonable price can be extremely difficult, but with most medications it is possible. Don't ever pay full price without first looking around. Navigating the different programs and resources out there can be very difficult on your own, don’t be afraid to ask your doctor’s office for help

What questions do you have about getting your medications for an affordable price? Leave them in the comments below.