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How you can save on your monthly medication

How you can save on your monthly medication

Posted on October 26, 2011 in sponsored post

NOTE: This post is brought to you by JanDrugs.ca

Saving money hasn’t always been exactly the sexiest topic among the younger demographic. Stashing cash for a vacation or a car makes it palatable in younger years, but building the practice of thrift into your lifestyle usually (but not always) comes with a bit more age and financial responsibility.

Interestingly enough, thrift and age often clash at the intersection of health care – specifically prescription medications. Age can bring ailments and ailments can sometimes throw thriftiness by the wayside. The price of prescription drugs can be an unexpected and sometimes lengthy financial burden for even the most prepared planners.

As a Canadian pharmacy, we see customers across generations that are mainly looking for a cost-effective way to get the medications they need to stay healthy. The truly thrifty have found even a few more ways to keep prescription medication costs low:

Understand Your Coverage – This is simple to say and sometimes difficult to actually do. Understanding how your health insurance covers prescription drug purchases can equal significant savings. Simply knowing what your co-pay is can prevent you from having to pay it if you don’t need to. In other words – if your prescription is going to cost you $10 and your co-pay is $20, cough up the cash and save yourself $10 by not using your health insurance. See? It seems like a no-brainer but many people have neither the time nor patience to really dig into their coverage terms to spot savings opportunities. Learning about your coverage can spur significant savings over the long haul.

Pill-splitting – Generally speaking, the larger the dosage the cheaper the prescription will be (per pill). Providing the pills are candidates for splitting (not gel caps or medications that are designed to release over time), you can buy larger doses and simply split the pills or tablets. Pill-splitters can typically be purchased at a pharmacy. Of course, your doctor will have to agree to prescribe the larger dosage in order for this to be an option. Always be careful with this option and make sure that you are ingesting the right dosage.

No Free Samples – Simple economics: The more free samples a pharmaceutical company gives out, the more likely they are to pass the cost of those free samples on to the consumer – you. Plus, you don’t want to get roped into using a particular drug for long-term treatment and have the free samples turn into a high-priced prescription.

Longer-term Prescriptions – Similar to the bigger-is-better notion behind pill-splitting, longer-term prescriptions often allow for savings. This tactic should only be used if you know you’ll be taking your medication for the entire length of the prescription, rather than a drug you might be able to stop using or use less of based on improving health.

For most, treating your prescription medication purchases with care might save you a few bucks a month. For some – depending on how many medications you take – it can result in a sizable savings. It is truly a component of living a more thrifty, financially responsible lifestyle.

Written by Lori Janeson. Check out Lori’s Google+ profile.