Saving money on prescriptions: Programs you should know about

Looking for tips to find prescription medications and supplies at more affordable prices? Comparing prices and researching available programs can help you manage everyday medicine expenses, the cost of diabetes supplies, and save valuable time.

By looking further into the details of each program, you'll soon be on your way to saving money on prescriptions. Instead of breaking into your piggy bank each month, you'll have spare change to save for a rainy day or plan fun events with the family. So, let's dive in with these helpful tips.

Check out prescription drug discount programs

You may be pleasantly surprised when you compare drug costs through online discount card programs. If you're new to price comparison programs online, you can start by checking out discount prescription programs like ScriptSave WellRX, Inside RX, Blink Health, Good RX, and Single Care. Today, these programs offer substantial price reductions on many medications.

It's important to note that prescription drug discount programs are not health insurance. They partner with most retail pharmacies — from 35,000 up to 70,000 nationwide — and offer discounts of up to 80% off retail drug prices. You can ask your pharmacist for the price with an insurance co-pay versus the discount card cost without insurance. Therefore, you can determine which option can result in greater savings.

You can also "comparison shop" online to compare prices between different pharmacies. Many websites allow you to enter the name of your medication and provide the price you will pay at select pharmacies near you. With that, saving money when filling a prescription has never been easier.

Enjoy the ease of ordering online

If you've ever run out of time to do everything on your to-do list, you may have experienced that uncomfortable feeling in the pit of your stomach at the end of the day. While shopping in person can be fun, there are times when simplifying the process makes practical sense — by having routine medications arrive at your doorstep.

There are several advantages of buying from online medical providers to ensure you get the best price and have medications when you need them. No more driving to the store or waiting in line for someone to fill your prescriptions and answer any questions you may have.

Ordering medications and supplies online is a simple process. Through Edgepark, for example, you can set up an account where you provide basic information about yourself, as well as the contact information for your doctor and health insurance plan. The Edgepark team then does the work to verify prescription information and coverage before shipping items directly to your home.

With 24/7 online ordering and reordering reminders, ordering from an online pharmacy or medical supply company may become your go-to choice for saving time and money.

Find a patient assistance program that's right for you

Some pharmaceutical manufacturers offer patient assistance programs for low-income individuals who don't have coverage through government-sponsored insurance programs. You can ask your doctor or pharmacist about the programs that are available today.

For example, companies such as Sanofi provide medications, supplies, and diabetes education at low or no cost. Another company, Livongo, provides diabetes supplies including a glucose meter and unlimited test strips, among other supplies. Other manufacturers including One Touch offer free glucose meters. You may also have the option to receive expert advice from certified diabetes educators.

You can start by searching the manufacturer name online — from there, you can enter the medication name or diabetes supply item. Some company sites provide patient assistance program application forms to download, or you may be given the option to complete the information right on the site. When required, your physician can complete additional information on the healthcare provider portion of the form and submit it to the pharmaceutical company.

Search online for manufacturer drug coupons

Saving money on prescriptions can also be accomplished by using manufacturer drug coupons on brand-name drugs. The coupon offers a standard price discount — for example, it could be $5 to $20 off the regular retail price. You can search the internet for your name-brand medication to see if coupons are available. When you bring the coupon to your local pharmacy, make sure to confirm the number of refills with the discount provided. That way, you can be sure to search for a replacement coupon before the discount expires.

Consider participating in a clinical trial

Clinical drug trials offer qualified participants free medications — or a placebo medication and select supplies — in return for participation. The National Institute of Health (NIH) and several teaching hospitals across the United States undergo ongoing clinical trials. You can ask your physician if they know of any clinical trials for t1d as well as research trials online on the NIH website. Be sure to consult your doctor first to learn the pros and cons before agreeing to participate in any drug or supply trial.

Inquire about less expensive medications

Pharmaceutical companies continue to bring new medications, and they may have high associated costs. When your doctor writes a prescription, you can always ask if there's a generic drug or lower-cost form of the medication available.

While consumers may have concerns about taking generic medications versus name brands, the FDA requires that generic drugs be as safe and effective as the brand name. One reason generics are less expensive is that they become available after the patent for the brand-name drug expires, which is usually between six to 20 years.

Access government-funded health insurance programs when possible

There are government-funded health insurance programs you can access including Medicare, Medicaid, Tricare, and programs through the Veterans Affairs (VA). Although these programs have negotiated drug prices, you're still able to look into discount programs to learn if using the program versus the co-pay you have through these programs is lower.

Become an advocate for t1d

According to the Mayo Clinic Proceedings, the cost of insulin continues to rise, and it's a challenge for many Americans living with diabetes. Some states like Colorado have enacted legislation limiting the out-of-pocket monthly cost of insulin to $100, beginning in 2022.

Check with your state to find out if proposed legislation exists about lowering insulin or other drug costs. You can contact the legislators sponsoring the bills to learn more. By becoming an informed consumer, you can become an advocate to support more affordable drug costs.

To learn more about programs that are available to you and to help navigate your benefits, which can also lead to cost savings, you can contact the Edgepark Customer Service team today.