Take the Steps to Control Prescription Costs

Glancing through a magazine or watching your favorite show on TV, you will most likely encounter an advertisement for prescription medication. Today, it seems there is a bottled-up cure for every condition.

• From 1993 to 2003 the number of prescriptions purchased increased 70%.*
• In 2002 alone, spending in the U.S. for prescription drugs was $162.4 billion.*

It is reported that 9 in 10 Americans report using medicines, more than half of Americans report that they are regular users of prescription drugs, almost one-third have more than five prescription drugs in their medicine cabinets, and 1 in 10 spend $1000 or more per year on prescription drugs**. You may find yourself asking this question: How can I continue to afford my prescription medications? Here are 5 steps you can take to help manage your prescription and healthcare costs:

• Try Generic Drugs
• Get More Bang for Your Prescription Buck
• Consider a Health Savings Account
• Ask About Non-Prescription Alternatives
• Take Your Doctor’s Advice

Try Generic Drugs

If you are one of those Americans with the need for prescription drugs, talk to your doctor about over-the-counter options or consider the generic brand of prescription drugs you frequently use. Generic drugs have to meet the same FDA regulations as brand name drugs and in most cases are 30-50% less expensive. Realizing the true costs of prescription drugs inspires consumers to shop for the best value while still effectively treating their condition.

Get More Bang for Your Prescription Buck

Different doses of the same drug often cost the same. Many larger-dose pills feature a groove indicating that the tablets may be split in half. Imagine how much money you would save if you paid the same price for twice as much medicine! Ask your doctor the following questions to find out if this cost-saving tip will work for you:

• Can the drug I’m currently taking be split without reducing it’s effectiveness? (Some time-released pills cannot be split.)
• If my current pills can be cut in half, do they come in a higher dose that will divide properly for my dosage?
• If my current prescription cannot be cut, is there an alternative that can?

Remember that your health is your number one priority, so always check with your doctor before altering any prescription or prescription dosage. Note: Some pills must be taken whole , including antibiotics, drugs for treating memory loss and delay-release pills such as those dubbed "CD" (controlled delivery) or "ER" (extended release).****

Health Savings Account

If you are covered through a qualified high deductible health plan, utilize your health savings account (HSA) to maximize your prescription dollars. Prescription drugs and over-the-counter medicines are qualified medical expenses that can be paid for tax-free through your HSA!

Ask About Non-Prescription Alternatives

We are all guilty of not asking about non-prescription alternatives. Next time you visit your doctor or pharmacy, take a few extra minutes to investigate your other options. This may also include online research. There are great medical resources available on the web, free of charge. Your preferred pharmacy website may also have valuable medical information.

Take Your Doctor’s Advice

Consider a lifestyle change that may help you eliminate the need for prescription drugs. The main factor driving prescription drug spending is the increase in prescription drug utilization. This one factor was responsible for 42% of the overall increase in prescription drug spending from 1997-2002***. Maybe your doctor has been urging you to lose a few extra pounds or eliminate certain foods from your diet. By making a lifestyle change, your need for blood pressure, cholesterol, or diabetes prescriptions (just to name a few) may be reduced or completely eliminated.