Medicine is one of those bills you usually can’t postpone. Yet the price of prescriptions can leave you feeling worse than when you first walked into the drugstore.
According to a recent survey from the Kaiser Family Foundation, roughly 26% of Americans report struggling to pay for their prescriptions. High costs lead some people to alter how they take their medicines — halving pills or skipping doses to stretch a supply. Others simply don’t fill their prescriptions, or they attempt to substitute them with cheaper over-the-counter alternatives.
That’s a serious problem. But you don’t have to accept steep prices at the same pharmacy you’ve always used. Comparing prices with a prescription discount card can help you pay less for the medications you need.
“We comparison shop for TVs and cars, but we rarely think to comparison shop for prescription drugs,” said Tori Marsh, director of research at GoodRx, a major provider of prescription discount cards.
How Do Prescription Discount Cards Operate?
Medication prices can differ substantially between pharmacies. GoodRx and similar discount services display price comparisons for your medication at several nearby retailers. These companies also negotiate reduced rates that can benefit consumers.
“It’s in the pharmacies’ interest because we help bring customers in,” Marsh said. “Pharmacists often notice that people walk away from the counter simply because they can’t afford their medication.”
Typically, prescription discount cards function like this:
- Search for your medication in your area using the discount provider’s website or mobile app.
- Use the comparison tool to choose which pharmacy you want to fill your prescription. You can do this on your phone before leaving your clinician’s office.
- Print the discount card or coupon, or present the discount code to the pharmacist via the app.
- If you have insurance on file, ask the pharmacist to process the purchase without running it through your insurer.
Although you can’t combine a prescription discount card with your insurance, you may find the listed price is lower than your insurance copay, Marsh said.
She noted that research from 2019 found a GoodRx card will beat an insurance copay about 75 to 80% of the time.
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Selecting a Prescription Discount Card
GoodRx isn’t the only player offering prescription discount cards or coupons. Comparable services include:
Most large pharmacy chains accept prescription discount cards, and some independent pharmacies participate in these discount programs as well.
When deciding which card to use, Marsh recommends evaluating the company as a whole to see whether it’s prioritizing consumers’ interests.
Ask yourself: Is this service finding the best price for my medication? Is it requesting personal information, and if so, how will that data be used? Does the program charge a fee to participate?
Charging a fee doesn’t automatically mean a company is untrustworthy, Marsh said, but there are numerous free options — such as the ones listed above — available to choose from.
Additional Ways to Lower Prescription Costs
Here are several more strategies to reduce what you pay for prescription drugs:
Enroll in a pharmacy’s discount program. Many major pharmacy chains offer their own prescription savings programs that reward repeat customers. Instead of comparing prices across retailers, these programs provide discounts for loyalty. For example, CVS lets you accrue points — called ExtraCare Rewards — which translate into a monetary discount on future purchases. Walmart lists generic drugs that cost $4 for a 30-day supply or $10 for a 90-day supply. Walgreens and Rite-Aid also provide savings plans that can lower medication costs.
Use Amazon Prime. If you have an Amazon Prime membership, you may save up to 80% on generic drugs and up to 40% on brand-name medications through Amazon Pharmacy when paying without insurance. Most insurance plans are accepted as well. Prime members receive free shipping, typically within five days; expedited shipping is available for a fee (about $5.99).
Consider other mail-order pharmacies. Mail-order services can frequently reduce your prescription expenses. Because shipping can be slower, this option is best for medications you take regularly so you can order them at least two weeks ahead of time. You can often save even more by purchasing a 90-day supply instead of a 30-day supply.
Alex Morgan is a senior writer at Savinly.
