12 Easy Ways to Save Money on Prescriptions

A pharmacist and customer having a helpful conversation in a bright, modern pharmacy. — A friendly pharmacist discusses medication options with a customer, helping her find the best ways to save on prescriptions.

Let’s talk about how you can save money on prescriptions!

We live in a world where it’s expensive to be alive: food prices keep skyrocketing, housing is not cheap either, bills keep coming, and if you also need to take prescriptions for any health problem you might have, you’ll have no money left to, well, live.

However, we know a couple of ways you can save money on prescriptions (we also cracked the code for the other problems previously mentioned, and we have lots of useful articles on our website; check them out!); and we want to share all these tips with you! We’ve asked doctors and pharmacists how to get more prescriptions with less money, and here’s what we found out!

1. Ask your doctor for affordable alternatives

The first thing you could do to save money on prescriptions is to be honest with your doctor. If the prices shock you each time you go to the pharmacy, you can talk to your doctor about it. They might not know the price of the drugs they prescribe and might give you less expensive or generic medications that still have the same benefits.

The good news is that the FDA has approved over 10,000 generic drugs that are just as useful as brand-name ones, and they’re up to 85% more affordable. You can also ask your doctor for a sample so you know what medications work for you and what do not.

A clean infographic showing three tiers of a drug formulary: Tier 1 Generic (lowest cost), Tier 2 Preferred, and Tier 3 Non-Preferred. — A tiered chart illustrates how choosing generic or preferred medications can lead to significant cost savings.

2. Know your formulary

Another way to save money on prescriptions is to know your insurance plan’s drug formulary. This will let you and your doctor know about the price category of a product, tier, and how much you’ll have to pay for it (tier 1 is the least expensive).

You can find all the information you need on the insurer’s website, or you can call them and ask for a certain medication. You can also compare the costs and benefits if you decide to switch health insurance plans.

A wide shot of a pharmacy counter inside a grocery store, where shoppers can access preferred network savings. — A man picks up his prescription from a pharmacist at a convenient retail pharmacy counter.

3. Go to your preferred pharmacies

If your health insurance plan offers any savings at particular pharmacies, you should check them out. Some of them are located inside retailers such as Target and Walmart, as well as supermarkets like Publix, Albertsons, and Kroger.

Since insurance companies bargain with them on prices, preferred pharmacies have reduced drug costs, which is amazing for those who want to save money on prescriptions. One method to compare plans while shopping for medical insurance is to check for preferred pharmacy savings. You might be surprised!

4. Get help from drug companies

Patient assistant programs, or PAPs, are listed on the websites of several drug manufacturers. They are intended for those who cannot afford the name-brand medications from the companies.

You might need to submit additional paperwork and evidence of income to apply. Use the Medicine Assistance Tool to look up PAPs from numerous pharmaceutical companies. Certain pharmaceutical companies also provide copay reduction plans for those with health insurance.

An ink and watercolor drawing comparing a small 30-day pill bottle to a larger, more cost-effective 90-day bulk supply bottle. — A large 90-day supply bottle provides more medication for a better value than a smaller jar.

5. Buy in bulk

If you want to save money on your prescriptions, you might as well buy them in bulk. When you buy more, you can receive a significant discount, which is amazing for your wallet. According to experts, some Medicare Part D plans can offer you supplies for 90 days at a great discount, via mail order or at the store.

But that’s not all. Another amazing way to save money on prescriptions is to buy up to a year’s worth of generic medications. However, before you make such a big purchase, it is best to ask your doctor if you should do it because unused medication can’t be returned.

A bold, screenprint illustration of a delivery truck carrying a pill bottle out of a laptop screen, representing online pharmacies. — A laptop screen features a pill bottle and delivery truck to represent convenient online prescription services.

6. Size up online Rx services

Here is some good news: alternative prescription delivery services are widely available these days. You can find full-service pharmacies on Amazon.com, HealthWarehouse.com, and Costco.com, and that’s amazing if you want to save time and money at the same time.

Moreover, if you’re looking for generics, you can check out ScriptCo.com, Ro.co, HoneybeeHealth.com, and CostPlusDrugs.com. To make sure you don’t spend too much, you can compare the reduced costs with their yearly membership fees and see which one works best for you. Keep in mind that some drugs are less expensive than copays for insurance, but they don’t count toward your deductible.

Keep reading to discover other great ways to save money on prescriptions!

A flowchart showing how money moved into an HSA or FSA account before taxes results in tax-free spending on prescriptions. — This diagram shows how pre-tax contributions to health accounts make your prescription medications 100% tax-free.

7. Pay with a pretax health account

Did you know that when you contribute some of the earnings to these accounts, you can save the taxes you’d have paid on that income? If you’re still working and you have a flexible spending account from your employer (FSA), you’ll probably have to use those funds within a set time, and these might be limited to specific services.

But here’s something you might like: if you’re part of a qualified high-deductible health insurance plan, you can set up a health savings account (HSA). This money will roll over every year, so you can save money on prescriptions.

A person holds a smartphone in a pharmacy aisle, using an app to compare two vastly different prices for the same medication. — A smartphone app compares prescription prices to help you find the best deals at the pharmacy.

8. You apps to compare prices

If you’re a tech-savvy person, you should know that another way to save money on prescriptions is to use apps to compare drug prices and choose the one that fits your budget. All you have to do is enter your medication and dosage, and these free tools will do the job for you. They’ll show you prices at local stores, so it’s easier to make a choice.

When you know what you want to get, you can click on it and get a digital coupon. Some of them will even allow you to order home delivery. One of the first apps like this, GoodRx, has a membership plan that covers no less than 1,000 medications for under $10 per prescription.

Other apps you can use are PharmacyChecker, WebMDRx, SingleCare, Blink, and RxSaver. Keep in mind that when you use these apps, you bypass insurance.

A senior man carefully reviews a Medicare Part D booklet at his desk, using a magnifying glass to read the fine print. — A senior man uses a magnifying glass to review Medicare Part D documents for prescription savings.

9. Savings for seniors

Have you ever heard of savings for seniors? Suppose you’re an elderly person whose income is not that great. In that case, the BenefitsCheckUp search engine from the National Council on Aging allows you to look over 2,500 programs for assistance with prescription medicines and other expenses.

Moreover, you might be eligible for Extra Help, a Medicare Part D subsidy for low-income beneficiaries. If you obtain Supplemental Security Income or are enrolled in both Medicaid and Medicare, you can immediately qualify for Extra Help, so that’s something to keep in mind if you want to save money on prescriptions.

10. Check out national assistance programs

Did you know that NeedyMeds has resources for uninsured people? This includes free help to find and file paperwork for several PAPs, which is a great help for some citizens.

However, if you have insurance but getting the meds you need is a bit of a struggle, you can try the Patient Advocate Foundation’s Co-Pay Relief program. Moreover, The Assistance Fund also has programs that help cover drug copays and several other medical expenses, so it doesn’t hurt to check them out.

A customer speaks with a pharmacist at the counter, illustrating the simple act of asking for a better price or discount. — A smiling man in a hoodie talks with a pharmacist about ways to save on prescriptions.

11. Ask the pharmacist for a discount

An easy way to save money on your prescriptions is to ask for a discount at an independent pharmacy. The price of medications can vary from one place to another, and there are times when you might get a better deal at your local drugstore than in other places. And that’s just because it’s not locked into a set cost.

If you want to save some cash, you can simply ask the pharmacist for a discount. Even if the local pharmacy you want to shop at is part of a chain, they can still help you access savings programs.

For example, CVS can use its own fantastic search tool to help you look for coupons, see what your insurance plan covers, and so many other things. Just ask; you have nothing to lose!

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12. Join an Rx plan where you shop

You probably know that lots of supermarkets and drug chains have their own discount programs, which is an amazing opportunity to save money on prescriptions. For example, if you join the Walgreens Prescription Savings Club, you can find lots of generics that cost between $7.5 and $15 for a 30-day supply, or $15 and $30 for 90 days.

Do you know any other tips on how to save money on prescriptions? Share them with us in the comments below! If you find this article helpful and you want to check out something else from The Money Place, here’s a good post for you: 7 Important Tax Documents To Never Throw Away