Medicines and You
Session 5 - Lower the Cost of Your Medications
Course Section
In this Session, you'll explore three methods for reducing what you pay for your medications. You'll learn about:
- Generic drugs
- Comparing costs of different drugs for your condition
- Getting a discount on medications
No matter what your financial status, these methods are worth exploring. You may be able to lower your drug costs significantly.
Are you 65 or over? Do you receive Medicare? If so, you can use a Medicare-approved prescription drug discount card. Also, many public and private programs help low-income people afford needed medicines. You'll learn about these programs under discounts.
1. Generic Drugs
Here are the most important facts to remember about using generic drugs:
- The FDA (U.S. Food and Drug Administration) approves generic drugs that meet the same quality and safety standards as their brand-name counterparts.
- Generic drugs frequently cost less than brand-name drugs. The price of generics is usually between one-fifth and one-half the cost of brand-name drugs.
- Generic drugs account for about 50% of all prescription medicines obtained in the U.S. This percentage has been increasing each year.
- A generic form exists for about half of the drugs now on the market. If a generic form does not exist, that usually means just one company has the patent to make the drug. When a drug patent expires, other companies can seek FDA approval to make the same drug.
- Generic drug manufacturers must demonstrate to the FDA that their generic drug is bioequivalent to its brand name counterpart. They must have the same active ingredient, strength, dosage form, and method of administering. Sometimes there are minor differences, such as the flavoring or color.
- In every state, a law lets your pharmacist fill your prescription with a generic drug, unless your doctor specifically says that the brand-name drug is necessary.
To get the generic drug:
- Ask your doctor to write your prescription for a generic drug, if one is available.
- Unless your prescription has a check box marked, "Dispense as written," ask your pharmacist to fill your prescription with a generic drug.
- If your doctor prescribes a brand-name drug, ask your pharmacist to call the doctor to suggest an effective generic drug instead.
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2. Comparing Costs of Different Drugs for Your Condition
Do you have a condition that your doctor wants to treat with a prescription drug? There is often more than one drug choice for conditions that commonly affect older people. Sometimes, a less expensive drug will treat your condition as well as, or better, than a costlier drug. But how do you know which drugs are safest and most effective?
AARP's Effectiveness and Safety of Prescription Drugs provides consumer-friendly information on commonly prescribed medications. This information is based on an independent review and assessment of the available medical evidence by the Drug Effectiveness Review Project of Oregon Health and Science University's Center for Evidence-based Policy. The Project's reports provide a unique, unbiased basis for helping you choose the right prescription drug.
For example, evidence shows no significant difference among drugs commonly used to treat urinary incontinence. But a monthly supply of drugs for this condition can cost anywhere from $175 to $23. With this evidence in hand, you can talk with your doctor about which drug is best for you. Perhaps you can benefit from a much less expensive medication.
The Consumers Union, which publishes Consumer Reports, also uses the Oregon research. Consumer Reports Best Buy Drugs provides a summary and recommendations page for each condition. It tells you which drug Consumer Reports recommends as a best buy, and why. You can link to a longer Consumer Reports document showing details on the drugs' safety, effectiveness, and costs. New drug reports appear each month.
Consult one of these sources to find drug comparisons. Each source is free. Research continues, so check back from time to time to find new information comparing the effectiveness and cost of drugs to treat your condition.
3. Getting a Discount on Medications
There are several major ways to get discounts on your prescription drugs.
- You can shop around to find best prices, no matter your age or income.
- If you are on Medicare, you can get a Medicare-approved drug discount card to use at most pharmacies.
- You may be eligible for prescription assistance, based on your income. Both pharmaceutical companies and states offer this kind of assistance.
Use these quick tips to see which drug discounts make the most sense for you.
Shop around.
It may be cheaper to buy different medications from different
places. If you do this, be sure that one pharmacy keeps a list of
every drug that you take. This is the best way to avoid dangerous
interactions.
Compare prices for the drugs you take. Consumer Reports magazine recently bought a month's supply of the same five drugs from 130 different merchants. The difference between the lowest and highest prices was more than $100.
Consider a prescription discount card. But do your homework. These cards are for anyone, not just those on Medicare. These cards are also different than prescription cards for those with low incomes. Typically, you buy the discount card for a few dollars. Sometimes the card is free when you become a member of the group offering the card. With most cards, you then pay about $20 per month. At participating pharmacies, the card is supposed to get you lower drug prices. But there are no guarantees, and you may find equally low prices on your own.
Some county governments negotiate discount drug prices at local pharmacies, for anyone who lives in the county. If your county does this, you will probably get your card in the mail. Present it when you purchase a medication to see if the negotiated price is lower than usual.
Consider filling prescriptions on your pharmacy's Web site. Many community pharmacies have their own mail-order service or online pharmacy. Prices are often lower on the Web site than at the store.
Compare drug prices at other online pharmacies. You may be able to save money. Legitimate Web-based pharmacies employ pharmacists who verify your prescription with your doctor. A licensed pharmacist promptly answers your e-mail questions. And you can use the pharmacy's online tool for checking drug interactions.
Use pharmacies that carry the VIPPS seal. This approval from the National Association of Boards of Pharmacy stands for Verified Internet Pharmacy Practice Site. It shows you that the online pharmacy is legitimate. Getting a VIPPS seal is voluntary. Some online pharmacies may not have applied for certification.
Buying from a VIPPS online pharmacy is also the best way to make sure the drugs you buy are not counterfeit, or fake.
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Enroll in the new Medicare prescription drug benefit.
You have probably seen a lot of news about the new Medicare
prescription drug benefit.
The drug benefit is voluntary. You do not have to sign up.
But there may be a penalty if you sign up later.
For more information about Medicare Part D and the Medicare-approved drug discount cards, read The New Medicare Prescription Drug Coverage: What You Need to Know. To download or order a copy, visit www.aarp.org/medicarerx or call 1-888-OUR-AARP (1-888-687-2277.
To find out which cards you can buy in your area, answer a few quick, confidential questions on the Medicare Web site.
You can also find help on AARP's special Web area on Medicare discount cards. Use the easy worksheet to find the best card.
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Get prescription assistance.
Did you know there are more than 300 programs to help
lower-income people pay for their prescription drugs? AARP
suggests two methods for finding out if you qualify for one
of these programs.
First, take the BenefitsCheckUpRx. This is a fast, free, and confidential online questionnaire. It is very easy to use. You enter information about your prescriptions, and then about your income and assets. The Check Up quickly shows you the prescription assistance programs for which you may qualify. You learn how to enroll for each program.
The Benefits Check Up can give the most help to people on Medicare without other prescription drug coverage, and who have low incomes.
The National Council on the Aging chairs the coalition of nearly 100 organizations, including AARP, which runs the Check Up. Each member helps keeps the Check Up current, and publicizes it to reach as many lower-income people as possible.
Second, you can start looking for prescription assistance in your own state, or with a specific pharmaceutical company. Search AARP's state-by-state, plan-by-plan list of pharmacy assistance programs.
Here's what you'll find:
- Each state's pharmacy assistance program and Medicaid health program
- Drug maker assistance programs from the manufacturers of most drugs commonly prescribed for older people. Many companies assist patients directly. Others work through your doctor to provide medications.
- Discount drug cards and discount pharmacies
- Prescription benefits for military veterans, retirees, spouses, and survivors
- A list of nearly 9,000 clinics and hospitals that participate in a special federal program with lower prescription drug costs
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In the Course Conclusion, decide on the next steps you'll take to use your prescription drugs more safely. You can also check your medications IQ, and compare your score with many others. And, if you don't know already, you'll find out what "Rx" actually means.
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All material contained herein is provided for informational
purposes only and should not be construed as medical advice or
instruction. Consult your health care professional for advice
relating to treatment of a medical problem or condition.
Copyright 2005, AARP.
