Trimming Your Prescription Drug Bill

Prescription drug costs rose a whopping 8.3% to $274.9 billion in 2006 and continue to rise. There are some things you can do to trim your costs and still stay healthy.

• Talk to your doctor. If your doctor knows you need to be careful about drug costs, he can recommend generic or older, less expensive brand drugs. He may also be able to give you several months of free samples. Don't be afraid to ask for samples. Get as many as you can. Be honest about your financial resources before your doctor writes the prescription.
• Buy generic. Ask your doctor if there is a generic drug available and make sure he marks the prescription to allow generics. If no generic is available, ask if another drug that does have a generic can be used. When you take your prescription to the pharmacy, specify that you want the generic drug. Drugs are precise amounts of chemical compounds. There is no medical difference between a generic and brand drug. If you get the brand, you're paying an added price for the drug company's advertising.
• Compare prices. Call local pharmacies including those in groceries and discount stores like Wal-Mart. Compare prices for filling your prescriptions. I recently found a $3 price difference for one of my prescriptions. Make sure you get prices for all of your prescriptions. The pharmacy that offered the lowest price on one of my prescriptions had the highest price on another. Remember to factor in the time and gas cost of visiting more than one store. You can also compare drug prices on the AARP website, click here.
• Buy online. Mail order pharmacies can save you money. They typically ship a 3-month supply for the same co-pay you pay for a one-month supply at your local pharmacy.
• Ask Medicare. If you qualify for the Medicare Part D Extra Help program, you pay minimal prices for drugs and can even receive assistance with premiums and deductibles. If you have limited resources ($11,700 for a single person) and limited income, then call social security and submit an application for extra financial assistance. The worst they can do is tell you you make too much.

We can help you here at AM Warner Insurance Inc. If you live in Kentucky or Indiana and have Medicare, we will help you evaluate your prescription drug plan to help you find the least expensive one for your drugs. We will also give you tips on what to do if you fall into the dreaded coverage gap.