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I recently had some readers reach out to me and ask about prescription medications. As they were creating a budget and looking for ways to manage monthly expenses, they realized the amount they were spending at the pharmacy was several hundred a month! And they felt under pressure to use their credit cards in order to get by because there simply wasn’t enough cash on hand. So they wanted real answers about how to save on prescription medication.
A recent article indicated the average American spent an average of $1200 a year on prescription drugs, and those with a serious illness, like cancer, spent over $10,000! I know my son’s friend has an EpiPen and they are over $600 for a two-pack. With many Americans underemployed or unemployed, what are they supposed to do when it comes to their medications?
How to Save on Prescription Medication
We’ve talked about how to save money on your healthcare coverage and the other options for health care coverage, but one area where I was having problems saving money was on my medications.
I have a thyroid condition so I need to take a medicine called Synthroid every month, when I had traditional health care coverage I was paying $35.00 per month for this one medication and another $10.00 for another medication I am on. Since I don’t have coverage to help cover medications anymore, I have been paying almost $120.00 per month out-of-pocket for my medications. Before canceling my insurance, I called around to all of the local pharmacies and compared prices. I found the stores that had the lowest prices, and I was still paying that much!
How do you get medication if you can’t afford it?
Last month I found out from a friend abou… Read More
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