4 Ways to Save Money on Prescriptions, Deductibles, and Out-of-Pocket Expenses

4 Ways to Save Money on Prescriptions, Deductibles, and Out-of-Pocket Expenses
Most of us find out the hard way that many insurance companies have deductibles for prescription medication. After you've spent hundreds of dollars meeting your deductible, you could be in for a very unpleasant surprise when you find out insurance companies can either deny coverage or leave you with high copays. Treating ED with medication or penile injections often leave us with ridiculously high copays. AARP has an informative article about this topic. I was one of those naive patients who wrongly believed doctors were aware of the least expensive ways to prescribe medication. When I had my gallbladder surgery, my surgeon prescribed individual packets of cholestramine. This was not covered by insurance. It cost me $119 out of pocket. After some research, I discovered I could get the same medication in a can for $40. Because there were no pre-weighed packets, I'd have to measure and scoop the powder into a glass. To save $79 a month, I'm willing to take that extra step. When I discussed this with my surgeon, he was immediately on board to change the prescription to the lower-priced can. I discovered another way to save money using an application called GoodRx. I had purchased a month supply of hyoscyamine. Again, Medicare wouldn't pay. I was charged $96. I went on GoodRx and found the medication I'd just purchased, $53 cheaper at the same pharmacy! I took my medication, my receipt, and my phone with the loaded app to the pharmacy. I showed them the price listed on GoodRx. I received a $53 refund. Using GoodRx I saved $132 on two prescriptions in a month! For the many folks who must decide whether to eat or bear the out-of-pocket expense for medication, it's vital to find the least expensive prescriptions. It falls on us to make sure we reduce our
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