6 Expert-Backed (and Easy!) Ways to Cut Your Prescription Costs Fast

Prescription drug costs are a heavy financial burden for many households — and with U.S. prices averaging 2.78 times higher than in other countries, it’s no surprise that people are feeling the pinch. 

As medication prices keep climbing, more families are scrambling for ways to cut costs fast. The good news? Matthew Herfield, Co-Founder and CEO of BuzzRx, a leading prescription savings service, has some simple, straightforward solutions that can help people save on prescriptions immediately. 

1. Go Generic

Herfield’s first piece of advice is to use generic medications whenever possible. “Generic drugs are regulated by the FDA. They’re also required to have the same active ingredient, strength, effectiveness, and safety as their name-brand equivalents,” Herfield explains. 

“Despite this, they cost an average of 80 to 85% less than brand-name drugs. This means you’ll pay a lot less out of pocket regardless of whether or not you have insurance. While generic alternatives aren’t available for every medication, switching to a generic is usually one of the fastest and easiest ways to save.” 

Generic drugs can have slightly different inactive ingredients from their brand-name equivalents, so patients with allergies should double-check ingredient lists when making the switch.  

2. Talk to Your Doctor

Discussing your concerns about drug pricing with your doctor is an important step when trying to find ways to save on prescription drugs. “An open and honest discussion with your doctor is essential so they can better understand your needs and start looking into alternative options,” Herfield says.  

“Obviously, your doctor can help you find generic options for your current prescription. They can also look into other medications that treat your condition. If you have insurance, bringing your drug formulary — the list of prescriptions your insurer covers — can also help your doctor find the best option.”  

3. Buy Medication In Larger Quantities

One potential outcome from speaking with your doctor or pharmacist about pricing concerns is being able to buy your medications in larger quantities. For example, mail order pharmacies are often able to send a larger supply of drugs at a lower per-dose price.  

If you have insurance, buying a three-month supply of your prescription instead of a 30-day supply can also help you save by reducing the number of times you’ll need to pay your copay. Some medications may also be available in pill sizes that are essentially a double dose of what you need, allowing you to split the pills.  

4. Get a Prescription Discount Card

Prescription discount cards are another easy solution that Herfield highlights for instant savings. Accepted at over 60,000 pharmacies across the country, the BuzzRx card and app gives customers a quick and easy way to save just by presenting their coupon at the pharmacy.  

“A prescription discount card gives you instant discounts on a wide range of medications,” Herfield explains. “On average, our customers save 75% off their prescriptions, with as much as 90% off for generic drugs. People who use BuzzRx to fill one or more prescriptions per month save about $1,100 per year. If you rely on a lot of medications to manage your health, those savings can add up even faster.” 

Prescription discount cards are free and available to all, regardless of income level or insurance coverage status. Cardholders can even compare their discounted price with their insurance copay and use the option that will cost less out of pocket.  

5. Compare Prices at Different Pharmacies

According to Herfield, a key part of taking full advantage of a prescription discount card is to compare prices at different pharmacies. Each pharmacy has its own pricing guidelines and markup, which will directly impact how much you pay at the register.  

“The cost for the same medication can vary drastically between different pharmacies,” he says. 

“This is true of both the pharmacy’s standard retail price and the discounted price you can get through a prescription discount program. Taking that little bit of extra time to compare costs at pharmacies in your area can reveal surprising price differences. Shopping around will help you find the best pricing for your medication.” 

6. Look Into Patient Assistance Programs

Finally, low-income and uninsured individuals may also be able to qualify for a patient assistant program. Patient assistance programs usually provide free or discounted medication. They are typically made available directly through pharmaceutical manufacturers. As a result, this requires reaching out to the manufacturer of your prescription medication to see what types of programs are available and to learn about qualification requirements. 

While not everyone will have access to these types of programs, they are certainly worth looking into if you use a brand-name drug. 

Many Ways to Save 

As Herfield points out, there are plenty of ways to cut your prescription costs — no matter your insurance plan. You can start saving instantly by talking to your doctor about alternative options (especially generics), using prescription discount cards or patient assistance programs, comparing prices, and buying in bulk. 

Don’t wait — take action now and unlock those savings! 

Healthcare disclaimer:  

This article is for informational purposes only and does not substitute for professional medical advice. If you are seeking medical advice, diagnosis or treatment, please consult a medical professional or healthcare provider.