8 Tips for Finding Affordable Drugs

The average Canadian household spends $450 per year on prescription drugs. A further $550 is spent on private health insurance premiums bringing the total to $1,000.

Even with some health coverage, 25 percent of Canadian households have someone who can’t afford their prescribed medication. And with drug prices continually escalating, the bite out of many Canadians’ take-home pay will only grow.

But all hope is not lost. With some ingenuity, you can still find affordable drugs for your medical condition.

In today’s blog, we highlight eight practical tips for buying prescription medication affordably.

1. Compare Prices Before Buying Drugs

Most people compare prices when shopping for clothing, flights, houses, and cars. Why should it be different when you’re buying medication?

The fact is drug prices can vary between pharmacies. Switching from your current drug supplier to another pharmacy may help you cut costs. You may want to try buying from big-box stores to see if you can get cheaper medications.

Note that you don’t need to visit multiple drug stores in Canada to compare drug prices. Simply click for more information on affordable prescriptions.

2. Buy Prescription Drugs Online

Online pharmacies have become more popular than ever before, with the global online pharmacy industry expected to surpass revenues of $131 billion by 2025.

One of the top reasons more people opt to shop online is the unquestionable convenience it affords you. In addition, adding your prescription medication to your digital shopping cart can save you money. Generally, online pharmacies tend to have cheaper prescriptions than their brick-and-mortar counterparts.

That said, you need to be extra careful when shopping for affordable medication online. Research the pharmacies to ensure that you’re buying only from accredited suppliers. Some online drug stores have been known to sell counterfeit, substandard, or expired medications.

Beware of online pharmacies that sell medication without requiring a prescription. Visit their website and verify their contact information. Always look for as many clues as possible that the pharmacy is trustworthy before you purchase from them.

3. Look for Coupons

In many cases, drugs that are new in the market tend to be expensive. These medications are typically available only in their brand-name form.

Some manufacturers offer coupons to make it easier for people to buy these drugs. These coupons may be available to patients who meet specific qualifications, such as having medical insurance or a willingness to provide medical information.

You can also find pharmacies offering coupons to urge customers to fill a prescription with them. For instance, a pharmacy may offer a $30 in-store gift card for your very first prescription.

Taking advantage of coupons can help you cut costs on your prescriptions.

4. Opt for Generic Options

Generic drugs usually have the same active ingredients as brand-name drugs. For this reason, these drugs will be just as effective in treating your medical condition as brand-name medications. The biggest difference between the two is the cost.

As you’d expect, brand-name medications are typically much more expensive than their generic counterparts. That’s because of the amount of time and money they allocate to developing these drugs. Manufacturers need to recoup their costs, hence the higher costs.

Once the patent expires, many other manufacturers start to produce the same medication but under different names. This medication tends to be more affordable. Shopping for these cheaper generic drugs can help you save money while still benefiting from the efficacy of the medicine.

5. Take Advantage of Prescription Assistance

In many countries, including Canada, there are programs aimed at supporting people who need prescription drugs but can’t afford them. These assistance programs are usually offered by medicine manufacturers, nonprofits, and the government.

Find out whether you qualify for this prescription assistance. In most cases, this assistance is contingent on the patient demonstrating financial need.

6. Opt For 90-Day Fills

If you use routine medication, buying in bulk can prove more affordable than getting a refill every other week. Some prescriptions like birth control or high blood pressure drugs are likely to be required for the foreseeable future.

Instead of refilling these medications on a monthly basis, try a three-month supply. Not only do you stand to save money, but you also enjoy the convenience that comes with having enough supply for a considerable amount of time.

7. Find Out Whether You Can Switch Medication

As you already know, some medications cost more than others, even for brand-name drugs. If you’re having trouble affording a certain drug, talk to your physician to find out whether they may be able to recommend a different prescription that costs less.

Be open with your physician about your financial situation. They may be aware of equivalent medication that is not as expensive. If you don’t talk to your doctor, they may simply assume that your insurance policy will cover the cost of expensive prescriptions.

8. Consider Buying From a Preferred Pharmacy

If you have health insurance, find out whether your plan has preferred pharmacies that charge lower for prescriptions. Many plans now do. Buying medications from these pharmacies can result in big savings over time.

If you’re considering buying a health plan, ensure that the local preferred pharmacies specified in the plan are convenient. The alternative is to identify a pharmacy in your area that you prefer and look for a plan that includes the pharmacy.

You Can Find Affordable Drugs for Your Condition

The cost of prescription drugs can be a big challenge for many people, but that shouldn’t discourage you. With a little bit of research and dedication, you’ll find that you can buy affordable drugs for whatever medical condition you have.

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