ATLANTA — On average, most Americans spend just over $1,000 every year on prescription drugs. That’s according to the Congressional Budget Office.
For many, that means choosing between putting food on the table or staying healthy.
But there are ways to keep that cost down.
Channel 2 consumer adviser Clark Howard has found some companies out there that will help you find discounts on prescriptions.
Howard said it’s so much easier than it’s ever been for you to comparison shop and find your prescriptions at a much lower price than you thought you could.
“I think it’s pretty ridiculous that we have it priced where it is, which makes it out of reach for people,” said Kimberly David.
Overall, Americans spend over $330 billion each year on prescriptions alone.
“You shouldn’t have to make a choice in that instance. Can I afford this? Can I afford to be well?” Tiffany Coley said.
“When you need a prescription drug, how do you fill it?” Howard asked Josiah Oakley.
“I will use the plan through my work, and usually I’ll just get it filled at the pharmacy,” Oakley said.
“I haven’t shopped around, to be honest,” said Prem Selvarasu. “I mean, I just go to the place that’s most convenient.”
- Are mistakes on your credit report dragging your score down? Here are ways to help
- Saving for retirement: Clark Howard’s guidelines to get on track
- Have kids going to college? Here’s how Clark Howard says you can avoid taking out student loans
- Taxpayers complain about company they used to pay the IRS
- How do you keep heating costs down amid rising energy costs? Clark Howard explains
But the pharmacy isn’t always the best choice for your wallet and not shopping around will cost you big time.
Companies like GoodRx and SingleCare will help find your prescriptions at a fraction of the cost.
Both companies work the same way. Just search for your medication and they’ll find the pharmacy near you with the lowest price.
Marc Cuban’s Cost Plus Drugs, a company started last year by billionaire entrepreneur Marc Cuban, has joined the game.
“If you don’t have insurance, you pay the same price. If you do have insurance, we’re probably going to be less than your co-pay. So why don’t you use us anyways? And it’s just going to we’re going to deliver right to your door,” Cuban said.
Cost Plus Drugs has nearly 100 generic medications. Unlike the other companies, Cost Plus Drugs works directly with drug manufacturers.
Howard compared the price for generic versions of Prozac, Lipitor, and Zestril and found SingleCare had the lowest cost for two of them, but not by much. But when it came to Lipitor, Cost Plus Drugs was nearly $10 cheaper. It’s important to remember that prices can vary by zip code and day when you search on GoodRx and Singlecare.
Despite all these options to get prescription drugs cheaper, many actually find the lowest cost for them is at Costco Wholesale or Sam’s Club.
Also, don’t worry if you’re not a member. They have to let you in to fill prescriptions even if you’re not a member. You just have to show your script at the door.
©2023 Cox Media Group