Why It Matters

The average American spends over $1,400 a year on prescription medications, according to KFF. For many, that’s more than they spend on utilities or groceries. High out-of-pocket costs often lead people to skip doses or abandon prescriptions altogether, choices that can have serious health consequences. But drug prices aren’t set in stone. Between generic alternatives, pharmacy discount programs, and insurance strategies, you can often find the same medication for far less.

Perks You Could Be Missing

One of the easiest ways to save is by switching to generic drugs. The FDA confirms that generics work the same as brand-name drugs and typically cost 80–85% less (FDA). Ask your doctor or pharmacist if a generic version of your medication is available, or if there’s a similar, lower-cost option that treats the same condition. If you take maintenance medications regularly, a 90-day supply through mail-order can often cost less per dose than monthly refills. Many insurance plans reward bulk ordering with lower copays or added convenience. And if you’re on Medicare, you may qualify for Extra Help, a federal program that covers most or all of your prescription costs for those with limited income and resources

How to Compare Prices

Prescription prices can vary wildly between pharmacies, even within the same zip code. Use comparison tools like GoodRx or SingleCare to check real-time prices at your local stores. In many cases, these services offer free coupons that can bring a $100 prescription down to under $20. Some major retailers also have their own discount drug lists, where common medications are sold for as little as $4. Check out programs from Walmart, Costco, and Kroger — you don’t always need to be a member to use them. If you take brand-name drugs, look into manufacturer savings cards or patient assistance programs. These can cut copays or provide free medication to those who qualify. You can usually find details on the manufacturer’s website.

Mistakes to Avoid

A common mistake is assuming your insurance automatically gets you the best price. Some discount cards can beat your plan’s negotiated rate, especially for generics. Always ask your pharmacist to check both options. Also avoid paying for prescriptions out-of-pocket at small or independent pharmacies without first comparing prices. While local stores often give great service, prices can be higher if they’re not part of a national discount network. Finally, don’t skip checking your drug formulary during open enrollment. Plans change every year, and a medication that was covered last year might cost double next year.

Act Now Before the Deadline

If you’re on Medicare, open enrollment runs from October 15 to December 7, and it’s your chance to switch to a plan that offers better prescription coverage (Medicare.gov). Even outside Medicare, it pays to review your options before the year ends because you could be missing out on major savings. Prescription drug prices don’t have to control your budget. By comparing options, asking about generics, and using free discount programs, you can keep your health and your wallet in balance. See what savings you could qualify for today.

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Sources

https://www.kff.org

https://www.fda.gov
https://www.goodrx.com
https://www.singlecare.com