Prescription medication can be an expensive but necessary part of life. Many of us are dependent on medication to treat a variety of conditions, ranging from the inconvenient to the life threatening. Insurance may cover some of the costs of your medication, but not all. Maybe you don’t have insurance, or if you do, your insurance doesn’t cover prescription costs. Fortunately, there are steps you can take to reduce the costs of your prescriptions, while still getting the medication you need. There are several methods available to lower your pharmacy bill, which ones you use depend on your situation...
For many people seeking prescription drug discounts, one of the most bewildering concerns revolves around the cost of prescription drugs. A few of the most common questions include:
“Why is it that some of my medications are mind-bogglingly expensive while others are cheap, or at least reasonably-priced?”
“Why isn’t my medication covered?”
“When will my medication get a generic version and become cheaper?”
“Do I get discounts through USA Rx on generic drugs, too?”
“Can I use my USA Rx card for discounts on drugs that are excluded by my insurance company?”
Let’s take these questions one at a time:
1. Why is it that some of my medications are expensive while others are not?
As you probably remember from your High School economics courses, there isn’t a simple, cut-and-dried answer to this question. Even so, here are a few things to keep in mind about the cost of prescription drugs as you search for prescription drug discounts.
Richard G. Frank, Professor of Health Economics at Harvard University, pointed out that “a bewildering range of prices that can exist for the exact same pill. These vary according to one’s insurance coverage, place of purchase (drugstore versus mail order), and the organizational arrangements under which a pharmacy benefit is administered.” And this isn’t even a complete list.
There are a number of additional factors that influence the cost of prescription drugs. To better understand, it may help you to think of prescription drugs being divided into four different types: Generic Drugs, Preferred Drugs, Other Drugs with Preferred or Generic Equivalents, and Specialty Drugs.