How to Safely Save Money on Prescription Drugs

In the United States, prescription drugs are often more expensive than those in other countries, and many people struggle to afford them. For example, a 2023 public poll showed that three in 10 adult Americans did not take their medications as prescribed due to cost, and eight in 10 said the cost of prescription drugs is unreasonable.[1]

Fortunately, there are ways you can save money on prescription drugs without compromising on quality.

Ask for generics

A generic drug is a copy of a brand-name one. Generic drugs account for 90% of overall prescriptions but only 22% of all drug costs in the United States.[2] According to the Food and Drug Administration (FDA), an approved generic drug is required to have the same active ingredients, strength, route of administration, benefits and safety as its brand-name counterpart.[3] A generic drug costs less because the FDA does not require its makers to repeat the initial studies that went into bringing its brand-name version to the market. Moreover, many generic drugs are made by more than one company, leading to competition that lowers prices. Therefore, opt for generic drugs when available. Generally, states have laws that allow pharmacists to substitute less expensive generic drugs for brand-name drugs. If a generic is not available for a brand-name combination drug, ask your clinician if there are generic formulations of its constituent drugs that would be less expensive.

Keep in mind that brand-name drugs and their generic versions may vary in color or shape and may contain different inactive ingredients. Speak with your pharmacist if you are concerned about the appearance of your generic drug or are allergic to gluten or lactose, which may be used to fill or bind certain medications.

If you need to take medications on a long-term basis, you can often save some money by getting a 90-day supply (rather than a 30-day supply) from certain pharmacies, when permitted by your insurance plan.

Choose an affordable formulation or split pills, where appropriate

Some drug formulations are more expensive than others. For example, tablets are generally less expensive than capsules. You can ask your clinician whether a more affordable formulation of your drug is available.

For some pills, a higher-dose tablet may have the same price as a lower-dose one. Ask your clinician to prescribe you a double dose of your pill and split it in half if that pill is FDA-approved for splitting and there is a mark across the pill indicating where to split it.[4],[5] Information about pill splitting usually is included in the “how supplied” section of the prescribing information. Importantly, you should never split a pill without talking with your clinician first, because doing so can be harmful in certain cases, such as for time-release tablets (designed to release a drug over time) or coated medications (designed to protect the stomach from a drug’s potential adverse effects).

Compare prices or use discount programs

If you have prescription drug coverage, fill your prescriptions at pharmacies that are within your insurance network to avoid the possibility of having to pay the full retail price. Keep in mind that drug prices, including those for generics, can vary depending on where you get your prescriptions filled, such as in pharmacy chains (including Costco, CVS and Target), supermarkets or independent pharmacies.[6] Thus, comparing prices across some of these pharmacies before filling your prescriptions can be a good strategy to save money. You also may consider online pharmacies among your options to lower drug costs. The article “How to Safely Buy Prescription Drugs Online” in the January 2024 issue of Worst Pills, Best Pills News provides recommendations for safe practices when obtaining your medications online.[7]

If you do not have health insurance, there may be discount programs that you can access at certain pharmacies by using a discount card or by accessing coupons online. Even without insurance or discount programs, some pharmacy chains have favorable prices for certain generic drugs.

Reach out to drug assistance programs

The Social Security Administration has a program called Extra Help, which can help individuals with Medicare drug coverage (Part D) who have limited incomes and resources to cut or lower their Part D costs, including premiums and prescription copayments.[8]

In addition, many states have pharmaceutical assistance programs that support residents who cannot afford the full cost of their prescriptions. Examples of eligible individuals are people with no prescription coverage other than Medicare Part D, those with a limited income or those whose prescription costs exceed a major percentage of their income.[9]

Lastly, some drug companies offer patient assistance programs that may provide free prescriptions to uninsured U.S. residents and those with Part D coverage who cannot afford their copayments. Detailed information about these programs can be found on each company’s website, if applicable. It is important to review such information carefully to make sure that participating in the programs will save you money.

What You Can Do

Regardless of what drugs you take, talk to your clinician about cost and opt for generic drugs whenever possible. For expensive drugs, your clinician may be able to prescribe a cheaper but effective alternative medication to treat your condition. Also, it is important to have a good relationship with your pharmacist, who may be able to recommend ways to save money without compromising safety.

Do not discontinue any of your medications without talking to your clinician; if stopped suddenly, some medications can cause health complications.

Finally, it is important to lead a healthy lifestyle, which can prevent many health problems or make the problems less severe. Drugs should never be the primary way to manage your health.
 

References

[1] Kirzinger A, Montero A, Sparks G, et al. Public opinion on prescription drugs and their prices. August 21, 2023. https://www.kff.org/health-costs/poll-finding/public-opinion-on-prescription-drugs-and-their-prices/. Accessed March 5, 2024.

[2] Ottinger J. The generic drug approval process. In: Barrett JS, ed. Fundamentals of Drug Development. John Wiley & Sons, Inc.; 2022:419-429.

[3] Food and Drug Administration. Generic drug facts. November 1, 2021. https://www.fda.gov/drugs/generic-drugs/generic-drug-facts. Accessed March 5, 2024.

[4] Food and Drug Administration. Best practices for tablet splitting. August 23, 2013. https://www.fda.gov/drugs/ensuring-safe-use-medicine/best-practices-tablet-splitting. Accessed March 5, 2024.

[5] California State Board of Pharmacy. Splitting pills: Understanding the benefits and risks. July 2015. https://www.pharmacy.ca.gov/publications/pill_splitting_brochure.pdf. Accessed March 5, 2024.

[6] Consumer Reports. Bid differences in generic drugs. https://www.consumerreports.org/video/view/healthy-living/drugs-medication/2310649207001/big-price-differences-in-generic-drugs/. Accessed March 5, 2024.

[7] How to safely buy prescription drugs online. Worst Pills, Best Pills News. January 2024. https://www.worstpills.org/newsletters/view/1577. Accessed March 5, 2024.

[8] Social security Administration. Understanding the Extra Help with your Medicare prescription Part D plan. February 2024. https://www.ssa.gov/pubs/EN-05-10508.pdf. Accessed March 5, 2024.

[9] Centers for Medicare and Medicaid Services. Find out if your state has a state pharmaceutical assistance program. https://www.medicare.gov/plan-compare/#/pharmaceutical-assistance-program/states/?year=2024&lang=en. Accessed March 5, 2024.