Increasing medication cost is one of the greatest contributing factors to medical inflation. But there are things that you can do as a consumer to help keep your out-of-poket expenses for prescription drugs as low as possible. Here are five ways to keep the lid on costs.
1. Use drugs from the Preferred Medication List.
Your copayment is lower when your doctor prescribes a drug from our Preferred Medication List. You save the most by using generic drugs on the list. The Preferred Medication List contains the majority of the most-used drugs in the U.S. And we keep adding more. If your plan includes an annual limit on prescription coverage, using listed drugs can stretch your prescription benefits. Please refer to your Preferred Medication List wallet card or member handbook for listed medications.
2. Use generic drugs.
If you need a prescription drug, always ask your doctor if he or she can prescribe a generic. (A generic drug on the Preferred Medication List is even better!) These drugs cost between 20 percent and 75 percent less than their brand-name equivalent* because they do not share the initial investment costs incurred by brand medications. Generics become available once the brand drug’s patent expires. Under FDA regulations, generics must contain the same active ingredients and be the same in strength and dosage as the original brand-name drug. Many generics are manufactured by the same companies that manufacture the brand-name drugs.
3. Don’t take unnecessary medications.
Antibiotics are only effective against bacterial infections, not viruses that cause colds and sore throats. Taken when not needed, antibiotics can lead to the development of tough bacteria called “superbugs” that are actually resistant to the drugs. That puts you at risk for developing an infection that cannot be cured with antibiotics in the future.
4. Consider over-the-counter options.
For many conditions, such as allergies, arthritis or stomach problems, good over-the-counter medications are available, including some that used to require a prescription. Your pharmacist can assist you in making good over-the-counter remedy choices. Be sure to keep your primary care physician aware of any over-the-counter drugs you may be taking.
*Source: FDA Center for Drug Evaluation and Research
