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Have a New Prescription That’s Too Pricey? Here Are 5 Ways to Save Money

An older woman sitting on a sunny park bench and reading the label on a prescription pill bottle.

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That new medication costs how much!? Try this.

Key points

  • For many Americans, prescription drugs and other healthcare costs are too high.
  • Using services like GoodRx, switching to generic medications, and getting a 90-day supply of drugs are some ways you may be able to save money on medication costs.

Healthcare in the United States is expensive. In addition to costly insurance premiums, copays, and lab testing, many people struggle with the high cost of prescription drugs. Some Americans even choose to go without their medications due to financial concerns — which is not a safe choice. If you have a new prescription that’s too pricey, you may be able to pay less. Here are a few ways to save money on prescription drug prices in the United States.

1. Use GoodRX to get discounts

GoodRX helps patients save money on many commonly prescribed medications. You can search the GoodRX prescription savings database through the company’s mobile app or website to see if any coupons are available for your medication. If a coupon is available, show it during the checkout process to score a lower price. GoodRx is accepted at over 70,000 pharmacies, and patients can save up to 80% on prescription costs.

2. Try Mark Cuban’s prescription drug company

Many people save money by using the Mark Cuban Cost Plus Drug Company. The company fills and delivers prescriptions at cost, plus a 15% markup and a $3 pharmacy filing fee — which can be a significant win for everyday consumers who are on a tight budget. When you use this service, your filled prescriptions will be mailed to your home, so this service could make your life easier, too. You can search the website to see if your medication is supported.

3. Switch to the generic version

Are you taking an expensive name-brand drug? Generic medications offer an excellent way to save money. According to the FDA, when multiple generic companies market the same product, generic drugs typically cost about 85% less than their name-brand equivalents.

Not all medications have a generic version, but many do. You may want to speak with your medical provider to see if a generic version would be a good fit for you. Switching to generic could help you keep more money in your checking account without skipping the medication you need.

4. Compare prices by pharmacy

Not all pharmacies charge the same prices for prescription drugs. If you have a new prescription and are shocked at how much your current pharmacy charges, it’s not a bad idea to see if other nearby pharmacies offer the same drug at a lower price. You may be able to get a better deal by switching pharmacies.

5. Get a 90-day supply of medication

Depending on the type of medication that you take, you may be able to request that your medical provider prescribes a 90-day supply instead of a 30-day supply. Some pharmacies offer significant discounts to customers who order a 90-day supply because it’s similar to buying in bulk. As a bonus, you’ll be stocked up on medication for a while, so you won’t have to worry about refilling your prescription every month or running low too soon.

Don’t let the price of prescription drugs get you down

You’re not alone if you’re frustrated about the high cost of medical care and prescription drugs in the United States. But there are ways to save money on this expense. Make sure you explore alternative options, like the ones mentioned above, so you can continue prioritizing your health without feeling stressed out about your personal finance situation.

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