Bargain shopping for prescription drugs can save you and your employer a lot of money. The impact of carelessly choosing a pharmacy likely funnels back to you in one way or another– through co-pays and direct payments or through the increased renewal your employer receives next year.
Five tidbits on drug spend:
- There is no such thing as luxury shopping for prescriptions. Paying 22 times more at Target than Costco does not make you healthier, smarter, or cooler.
- Sam’s Club and Costco may very well be worth the $60 & $100 membership if you have an ongoing prescription. Luckily, you can have access to some of the savings without purchasing a membership.
- Common ownership does not mean the same prices. Look at Walmart/Sam’s Club & Walgreens/Rite-Aid. Even worse, studies have found discounts can vary from the same retailer in different parts of the same city depending on who you talk to.
- Convenience is not king. Having a Walgreen’s next to your house does not justify overspending. Yes, once in a while you may have to use multiple pharmacies if it’s worth the savings (take note of possible interactions which may be missed). Additionally, what is more convenient than ordering a prescription online and having it show up at your doorstep?
- Take advantage of any and every discount. Most retailers do not apply in-store discounts unless you ask for them. These are always changing, so keep checking!
Fortunately there are a lot of ways to help consumers compare prices and discounts. GoodRx, Blink Health, or WeRx.org are all great options for comparing pharmacies near you along with the ability to download and print vouchers.
We have the incentives, information, and a personal responsibility to take control of healthcare spend. What’s your excuse?