Ways Retirees can save on the cost of Prescription Drugs

As you get older, chances are that you will have to purchase more and more prescription drugs. While this is not something that you will want to do, staying healthy is of utmost importance. There are many ways that retirees can save on the cost of prescription drugs. A few of the best ideas include:

  1. Ask your doctor if they have any suggestions. You may be surprised at the many ways your doctor can help you save. For instance, he may be able to write you a prescription for a generic drug instead of the name brand. Along with this, many doctors have free samples that they can give you. This may not be a long term solution, but it can definitely save you some money.

    Did you know that generic brands can cost up to 80 percent less than brand name equivalents? Contrary to what some people believe, generics are every bit as safe because they must pass the same safety tests.

  2. How much do you really need? You never want to go against doctor’s orders, but there is nothing wrong with a discussion regarding your dosage. Maybe you will be able to save by taking a higher dose once per day, rather than several pills throughout the day.

  3. Purchase Medicare Part D. Many retirees are familiar with Medicare Part A and B. That being said, some have no clue what Part D is all about. Since you will be purchasing Part D, not getting it for free, make sure you compare all your options and find the plan that will give you the best coverage while helping you save as much money as possible.

  4. Choose mail order over a local pharmacy. With the ability to purchase three months of medication at a time, you will be able to save a lot of money.

    Tip: your doctor will have to write “90 day supply” on your prescription.

  5. Compare, compare, compare. For whatever reason, many retirees believe that every pharmacy sells prescription drugs at the same price – but nothing could be further from the truth. Call or visit as many pharmacies as possible. In the end, you will have a good idea of which one can help you save the most money.

The cost of prescription drugs is rising. In turn, many retirees are beginning to panic. Rather than pay too much for prescriptions, follow the five tips above.

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