6 tips to reduce your out-of-pocket medication costs

When you’re sick, the last thing that you want to worry about is how you’re going to pay for your critical medical treatment.

Even if you have health insurance, you may find that the prescription drugs you need the most are out of reach due to high out-of-pocket costs—the deductibles, co-pays, or coinsurance that are not reimbursed by insurance. Many people find themselves choosing between paying bills and buying essential prescription medications.

Here are 6 tips for relieving some of the stress and financial burden for people struggling to afford their prescription medications.

  • 1

    Talk to your doctor or pharmacist

    Doctors, pharmacists, and other healthcare providers often have access to drug samples, coupons and information about organizations that can help you get the medication that you need at a price you can afford.

  • 2

    Ask your doctor if a generic drug is available

    Many name-brand drugs that are used to treat common conditions have a generic equivalent that is significantly cheaper, especially if the name-brand medication is an older drug.

  • 3

    Start using FundFinder

    FundFinder is a free, simple web app that can be used on your computer or mobile device. When you sign up, you can set up text message or email alerts when disease-specific funding becomes available.

  • 4

    Shop around and use coupons

    If your medication is more than you can afford at your usual pharmacy, check with other pharmacies in your area to compare out-of-pocket costs.

  • 5

    Learn more about assistance from your state

    Contact your state’s department of health to find out about any assistance programs that are available and if you qualify.

  • 6

    Review your Medicare coverage options

    Find out from an expert if your current Medicare plan includes the prescription drug coverage that you need and how to search for a new drug plan if it doesn’t.