Next time you receive a prescription, it might be a good idea to think twice before heading to your usual pharmacy. There could be a chance to save some cash.
“We’ve discovered that, in some cases, paying for prescriptions directly can be less expensive than using your insurance,” noted Kevin Brazler, Editor-in-Chief.
“A number of companies provide drug discount programs,” Brazler mentioned. “They negotiate directly with pharmacies to offer lower rates to members.”
Some free drug discount options include: American Pharmacy, Blink Health, GoodRx, SingleCare, and WellRx.
“These companies negotiate prices with pharmacies,” Brazler explained. “It’s not just online options; many well-known chains also join these initiatives.”
Here’s how it generally works: You log onto a discount drug site, enter the medication name, quantity, and often your zip code. The site will then show you the current prices at nearby pharmacies.
When users click on offers, they receive coupons that can be printed or used digitally at participating pharmacies.
“By taking advantage of these discounts, you might find prices lower than what you’d pay through your insurance,” says Brazler.
He also advises reviewing the privacy policy of any app or website before using it to ensure you’re comfortable with how your data is handled.
“If you’re purchasing medications through a health insurance plan, certain consumer protections are in place,” Brazler added. “However, these discount programs don’t fall under HIPAA regulations.”
“Many companies promise, ‘We won’t share your personal info with other businesses,’ but there’s always a possibility of them sharing enough to target ads at you,” he warned.
One last thing to keep in mind: if you use these website coupons to buy medications and skip using health insurance—whether private or Medicare—those purchases won’t help you meet your annual deductible.
