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4Ways to Save on Medications in the Pandemic
By Erin Flynn Jay
Millions of Americans are struggling to afford their medications during COVID-19, including some with health insurance, the nearly 27 million who lost coverage due to a job loss and those who never had it. The sticker shock is real. In July, according to the GoodRx site, 67 prescription drug prices rose an average of 3.1%; prices for 857 brand-name and generic drugs increased by an average of 6.8% from January 1 to June 30, 2020. Refills for common medications such as insulin for diabetes and Nexium for heartburn can cost around $300.
1. Pay out-of-pocket (cash prices) instead of co-pays. The out-of-pocket price of medications is usually much lower than the average health insurance co-pay for them. You can save money (often up to 80%) by buying your medications directly from a pharmacy and skipping insurance altogether. 2. Switch to an online pharmacy. Retail pharmacies can mean getting stuck waiting in long lines and risking exposure to COVID-19. Online pharmacies are simpler or more convenient since they ship medications straight to your door. 3. Switch to a 90-day supply. That can be helpful if you're on maintenance medications, such as ones to treat chronic conditions like high blood pressure, high cholesterol, anxiety, depression or type 2 diabetes 4. Use pharmacy savings cards and online programs. Pharmacy savings cards can offer significant discounts on drug prices at the pharmacy counter. You just show the pharmacist your card (or mobile app) to gain instant savings. A 10-second search could save you hundreds on your next drugstore visit.
Read the full story: 7 Ways to Save on Medications in the Pandemic on NextAvenue.org
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