From January to June of this year, Good-Rx reports that prescription drugs have jumped in cost by nearly 7 percent.
So here are a handful of ways to save on medications during the pandemic:
Pay out-of-pocket cash prices instead of co-pays.
- MarketWatch reports that you can save as much as 80% when skip insurance altogether.
Get a 90-day supply.
- This works best if you're on maintenance drug. It's much more affordable and convenient to get a 3-month supply.
Look for the best deal online.
- Consider the CareCard app or a program like SingleCare or Good-Rx to find the best prices.
Evaluate your health insurance or prescription plans.
- Find out which pharmacy providers are in your network and make it work for you.
Consider signing up for an HSA or FSA.
- Both accounts let you contribute pre-tax income that can save on out-of-pocket expenses on all things medical including prescriptions.
Starting in January, Medicare Part B introduces its senior savings program that limits your price on most insulins to $35 a month.