This article was adapted from information on the website of the U.S. Food and Drug Administration(FDA).
You can save money on prescription drugs by becoming a smart shopper and knowing what to discuss with your doctor or pharmacist. Discuss whether a less expensive drug will work for you, compare prices among pharmacies in your area or online, and find out if you qualify for assistance programs.
Generic Drugs
According to the FDA, generic drugs have exactly the same active ingredients and effects as brand-name drugs, but they can cost 30% to 80% less. Patent protection gives brand-name manufacturers the right to be the sole source of a drug for a certain time period so they can recoup the money they invested in trying to develop the product. Once the patent protection expires, a generic version of the drug can be marketed.
The reason generic manufacturers can sell the drugs less expensively is not because the quality is lower. It's because there is competition among these generic manufacturers, who don't have to repeat the expensive safety and effectiveness testing that brand companies have already conducted. And, they spend less money on advertising their products.
Generic drug companies must perform tests and show the FDA that their drugs are equivalent in terms of therapeutic effect to the brand-name drug. These companies must show that the ingredients of the generic drug enter into the blood stream in the same way and in the same length of time as the brand-name drug.
You should discuss with your healthcare provider which drug is the best therapy for your condition. Even when a particular brand-name drug has no generic, a very similar member of the same drug class may be available. For this reason, instead of asking your provider whether a particular brand-name drug has a generic version, you should ask whether there is a generic available to treat your problem.
Communicating With Your Healthcare Provider
It's a good idea to tell your healthcare providers whether paying for medicine is a problem, That doesn't mean they can fix all the problems, but not being able to afford medication clearly affects your health.
If you are having trouble paying for medications, what can you reasonably expect from your provider? You should feel free to ask about whether a generic can be used instead of a brand-name drug or whether there is a similar drug that is less expensive. But some providers don't know the price of drugs, so you might have to do your own research, In some cases, there may be nonprescription drugs that might work.
Medicare Prescription Drug Coverage
Medicare Part D, the outpatient drug coverage that began in 2006. If you are a Medicare beneficiary can choose from a number of prescription drug coverage plans. These plans cover drugs for all medically necessary treatments, pay for brand-name and generic drugs, and you can get your prescriptions filled at a local pharmacy or through mail order.
Assistance from Pharmaceutical Companies
Two main types of assistance are available from pharmaceutical companies. Several companies offer programs that allow consumers to take a discount drug card to the pharmacy to get a discount off of the price of prescription drugs. And most major pharmaceutical companies offer Patient Assistance Programs (PAPs), which give free or low-cost medicines to people in need.
Every company has its own eligibility criteria for PAPs, and, in most cases, U.S. citizenship and some proof of income, such as tax records or a record of social security benefits, are required.
You can initiate the PAP process on your own by printing forms off the Internet or by calling pharmaceutical companies directly to request forms. You should fill out as much of the form as possible, and then take the form to your doctor's office. PAP forms require a doctor's signature.
Quick Tips
- Tell your doctor whether paying for prescription drugs is a problem.
- Ask your doctor about generics, another brand of the drug that may cost less, and nonprescription options.
- Find out whether Medicare Prescription Drug Coverage can benefit you and your family members.
- Check to see whether you are eligible for drug assistance programs in your state.
- Check with the pharmaceutical companies that manufacture your medicines to find out whether you qualify for assistance programs.
- Shop around your neighborhood or legitimate online pharmacies for the best prices on prescription drugs.
