(When you buy something using the links on my posts, I may earn a small commission at no additional cost to you. MyDomainNameIsTaken.com does not accept money for reviews.)
How To Save Money on Prescription Medicine?
Use Manufacturers’ Coupons and Check Out GoodRx®
Prescription medicines can be costly. But that doesn’t mean they have to take a big bite out of your budget—or worse—you must do without.
That’s not an option you want to take.
Here’s my true story about how I learned to use manufacturers’ coupons save money on prescription drugs.
I Didn’t Believe You Could Save Money With Drug Coupons
About ten years ago, I was buying a newly prescribed inhaler for asthma. It was quite expensive, and I thought there surely had been a problem with my pharmacy insurance claim. But I checked with my insurance company and there wasn’t a mistake. It was simply an expensive medicine.
OK.
The next time I went to the drugstore to have the prescription filled, I mentioned to the pharmacy clerk how expensive I thought the medicine was.
It shocked me to hear that I could get a coupon from the manufacturer for a free inhaler.
A free inhaler? I had never heard of coupons for medicine. I never followed up on the offer. It somehow seemed wrong.
Coupons for cookies? Yes. Coupons for detergents? Yes. Coupons for medicines? There had to be a catch–so I passed on the idea.
I thought, “Would my name end up on a drug company’s database?” “Would they spread my private medical information all over the internet?” Something just didn’t seem right.
Time flies.
I Had To Purchase a Very Expensive Medicine
Years later, my daughter needed a new medicine. It was quite expensive; it cost us $150/month or $375 for a three-month supply, after insurance. Dropping $375 at the drugstore was not fun. In fact, it was becoming quite painful.
I did some research online, not expecting much in results. Happily, I found a manufacturer’s coupon that brought the copay down to $25/month for the entire year!
Surely there had to be a catch. But there wasn’t. So, I signed up for the coupon, printed it out, and saved a boat load of cash that year.
Let’s see. With the new coupon, a year’s worth of medicine cost $300 instead of $1,500. A savings of $1,200. Not too shabby for a simple Google search.
It’s Smart to Save Money on Prescription Medicines
Now I always look for a manufacturer’s coupon whenever I need to buy a brand name drug.
Check This Out
About five years ago, my ophthalmologist prescribed Restasis® for dry eye. It was great and completely cleared up my dry eye problem. But the medicine was expensive, costing me over $100/month after my insurance paid for the rest.
I stopped using the Restasis and purchased several over-the-counter artificial tear solutions. I thought they could easily keep my dry eye problem under control. But they didn’t.
I knew I would have to go back to using Restasis or some other equally expensive dry eye treatment. You can imagine how happy I was find a coupon on the manufacturer’s website, which brought my copay down to $25!
How To Find Manufacturer’s Coupons for Medicines
Manufacturer’s coupons are found on the drug manufacturer’s company website. Simply search for the official website of the medicine’s manufacturer. Then look for “coupons” or “savings offers” on the menu.
In my experience, you answer a few easy questions and can then print out your personalized coupon, or download it to your phone. Then present the coupon to your pharmacy each time you are purchasing the medication. (My pharmacy said they would keep the coupon on file, but they didn’t. Be sure that they activate the offer and that they are applying it correctly–every time.)
Some coupons even allow you to get the brand name medicine for less than you would pay for its generic equivalent!
Prescription Drug Coupon Restrictions
Most manufacturers’ coupons cannot be used with Medicare or other government programs. And do not confuse manufacturer’s coupons with other drug coupons which will not work with insurance.
Drug company offerings will vary from time to time. An offer that was good in 2021 may not extend to 2022. And always check for new offers.
Unfortunately, not all medicines have coupons, but they are definitely worth looking for.
Why Do Prescription Drug Manufacturers Offer Coupons?
Drug companies may offer a new coupon when there is a new, competitive brand on the market. Or when a generic equivalent has recently been approved.
Sometimes a medicine is new and they want consumers to be motivated to try the medicine.
Prescription drug companies trying to influence consumer demand is a long-standing controversial topic.
There are many articles and opinion pieces written about these manufacturers’ coupons because they influence the health care industry in various ways.
But as a consumer with a limited budget, I say finding a medicine coupon that will save me hundreds isn’t something to be sneezed at.
Use GoodRx to Save Money on Prescription Drugs
You can also visit GoodRx.com for some great prescription medicine discounts.
GoodRx is used instead of your insurance for a particular purchase.
All you need to do is go to their website and put in the name of the prescription drug. You will find out the cost of filling your prescription at different pharmacies. If you like the offer, capture it on your smart phone, and show it to your pharmacist.
Tell them you want to use GoodRx for that particular prescription, instead of your insurance, if it’s cheaper.
Several times I have used GoodRx to save money on prescription drugs. It’s totally free to use and claims it can often beat insurance and Medicare prices.
At my pharmacy, they will even check the GoodRx price themselves, before charging my insurance company.
My experience has been that sometimes GoodRx offers an incredible deal, and other times not so much. But the website is very fast and easy to use, so it’s always worth checking.
Why Not Pass the Good News on To a Friend?
I hope this post helps you save money on your prescription medicine purchases. Please share this post with friends. If they aren’t aware of the savings possibilities, I’m sure they will welcome the information.
What will you do with your extra cash each month?
You may be interested in some of my other posts about how to save money.
.How to Keep Your Home Closing On Track and On Time
How to Have a Successful Moving/Estate/House Sale
