The prices of medication drugs in the US keep rising. In 2020, prices for 260 commonly used brand name prescriptions increased by 2.9 percent. It’s more than twice as high as inflation, which is 1.3 percent.
To help consumers cope with the high cost of prescriptions, pharmaceutical manufacturers and privately funded programs offer discount cards. However, while prescription discount cards promise huge savings, they are not all created equal, that’s why understanding how they work is essential.
Here’s a guide on using such valuable cards and getting the best discount on your prescriptions.
Understand How Prescription Discount Cards Work
Paying for prescriptions out-of-pocket can be costly, which can range from $12.41- $97.57. But you could bring the retail price further down by using a prescription discount card. According to Physician’s Desk Reference, the average discount can go around $20 per prescription.
Prescription discount cards are easy to use. You only need to show the physical or digital card to the pharmacist then you pay the discounted price of your medications. Note that while anyone can use a prescription discount card, you can’t combine it with insurance or copay cards.
So, if you’re insured, you have to choose whether you pay with your insurance or prescription discount card.
Consider Your Prescription Drug Plan
Before opting to use a discount card, it’s best to consider your prescription drug plan if you have one. Find out which drugs are covered and what your co-payment will be. The prices of many prescriptions can be much lower through insurance benefits, especially those that don’t yet have a generic alternative.
But using a prescription discount card when paying for prescriptions might be a better option if:
- The medications are not covered on your prescription drug plan.
- You have a high deductible plan, meaning you have to pay a more incredible amount before the insurance covers your prescription costs.
- Your typical co-payment is higher than what the discount card offers.
- Your insurance does not have drug coverage.
Know What The Prescription Discount Card Offers
Prescription discount cards may vary in what they offer. For example, some might give you access to wide-range options of medication drugs. Others might only be available to a particular drug manufacturer or a specific prescription drug.
It’s essential to always read the fine print of a prescription discount card so you’d know if it’s the right choice in filling your prescription. Here are some essential factors you need to consider when taking a look at what the discount count offers:
- How much money will you save with a particular discount card?
- What pharmacies will accept the discount card?
- What medications will the discount card cover?
Bear in mind that no one card can give the best discount for every kind of drug. But weighing what the cards can offer will help you get the most substantial discount on your medications.
Check The Prescription Discount Card’s Website
Generally, the ideal prescription discount card is the one that will help save you the most on the medications you take. To figure out how much you can save with a discount card, you can directly search your prescription on the prescription discount card’s website.
For instance, you can go to BuzzRx.com and type in your prescription in the search bar. Then you can set your location or enter your zip code to see the most accurate pricing. Doing this may allow you to find out the lowest possible price on your prescription if you use the BuzzRX discount card.
Shop Around For The Best Price
It’s also worth noting that the final cost of your prescription doesn’t depend on the discount card that you use but on the price set by your preferred pharmacy. Remember that drug prices can vary from one pharmacy location to another, and they can change from time to time. It means that you can end up paying different prices of the same drug at different pharmacies using the same discount card.
That’s why it’s always a good idea to shop around several drugstores to find which one can give you the best price. This way, you’d be able to get the most discount on your prescription. Checking the price of your prescriptions is as important as looking at what the discount card can offer you.
Get The Most Savings On Prescription Drugs
There are plenty of ways to save money on your prescriptions. But using a prescription discount card more wisely is an excellent place to start. Make sure to ask your pharmacist always whether paying for your prescriptions with a discount card is better than using your insurance.
Additionally, always look for a free card instead of having to pay for a membership or annual fee. There’s no point in paying for a discount card since the discount will be just the same.