Do This Now To Save Big on Medications Using Drugmaker Coupons and Discounts
Written by
Chris Adam
Edited by
Rebekah Evans
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
Sometimes knowledge can be a big money saver. I recently used a manufacturer’s coupon for a prescription for a diabetes medication — it ended up saving me $150 for the monthly supply.
If you want to start saving more money on your medications, here are some things to try now in the new year.
Drugmaker Coupons
I only found out a drugmaker coupon was available for the medication after I did an online search to see how to save money on this particular prescription. It turned out to be a much easier process than I expected — I simply entered some information, printed out the coupon and then took it to the pharmacy. It’s the type of coupon you can use each month to save $150 on the medication — and that’s after insurance has been applied.
“Review discount programs even if you have insurance,” said Brandon Gregg, certified financial planner (CFP) and advisor with BBK Wealth Management. “On rare occasions, you may find these discount programs provide cheaper prices than if you use your insurance.”
Patient Assistance Programs
For those without insurance, it can be crucial to check for drug company patient assistance programs. Drug manufacturers offer low-cost or even free medications for low-income patients. Doing an online search can be a great way to find out about these programs.
Discussions With Your Doctor
I feel fortunate to have a primary doctor who keeps costs in mind when it comes to prescriptions and other healthcare needs. If you don’t have that kind of physician, you can take the initiative to bring up the topic.
“At your next physical, ask your doctor if there are any discounts or incentives on the medications you take,” said Melanie Musson, finance expert with Quote.com. “Your doctor may have the inside scoop, which can help you save.”
Musson said to try to purchase three months of medication by mail. She said buying three months’ worth of medication at a time usually results in the best price.
Health Savings Accounts (HSAs)
“If needed, take advantage of your HSA,” Gregg said. “It’s not a discount, but it’s money earmarked for this specific situation.”
More From GOBankingRates
