Prescription savings: Your Reddit questions, answered

Key takeaways

• While social media (like Reddit) is a popular place to seek financial advice, it is often a source of misinformation. Stick to evidence-based sources and professional consultations with doctors or pharmacists to ensure the information is trustworthy.
• Your insurance copay isn’t always the lowest price. You can often find better deals by comparing cash prices across different pharmacies, using 90-day supplies, or utilizing legitimate third-party discount cards like Optum Perks.
• Real discount cards are safe and can save you up to 80%, but they are not insurance. Legitimate cards are typically free — be wary of any service that asks for “activation fees,” your Social Security number, or credit card information.

Overview

In times where it feels like everything is getting more expensive, it’s natural to want to save money where you can, and prescription medication costs are no different. Many people are turning to social media sites like Reddit for advice on how to save money.

However, it’s difficult to verify the trustworthiness of information on social media, and sites like Reddit can also be filled with misinformation and answers that aren’t based on research evidence. Let’s take a look at some common questions about prescription savings on Reddit, with evidence-based answers you can trust.

Need a diagnosis or prescription quickly? Optum Perks offers personalized on-demand care in as little as 15 minutes. For $29, answer a few questions online and receive a diagnosis and treatment plan from a US-licensed healthcare professional. Get started here.

How can I save money on my drug costs?

People in the United States currently pay some of the highest prices in the world for prescription medications. Because of this, many Americans are looking for ideas on how to save on prescription costs.

Managing prescription costs can be a bit of a maze, but there are several effective ways to lower your out-of-pocket expenses. Your best strategy depends on your insurance status and where you live.

• Try generic drugs: Many branded medications have a generic equivalent that contains the same active ingredient. Generics are as safe and effective as brand names, and they tend to cost up to 85% less. However, they aren’t available for every drug. You can speak with a doctor or pharmacist to see if there’s a generic equivalent for your medication.
• Check out manufacturer savings programs: In some cases, the manufacturer of a certain drug may offer savings cards or discount programs. The savings may be different depending on whether or not you have commercial health insurance.
• Shop around at different pharmacies: Different pharmacies will likely have different prices for their medications. Mail-order pharmacies may also be able to offer discounts by providing 90-day supplies.
• Look into government savings programs: The government may offer help with drug costs. For example, if you’re on Medicare Part D, you may be able to access Medicare’s Extra Help program, which can help people with limited resources pay for premiums, deductibles, and other insurance costs related to medications. This online search tool can help you find private and federal savings programs in your area.
• Learn about drug discount cards and coupons: Some third-party companies, including Optum Perks, have discount cards and coupons that can offer prescription savings. These often can’t be used alongside insurance, but may be a good option if you don’t have insurance or if a medication isn’t covered in your plan.

If you need help covering the cost of medications, the free Optum Perks Discount Card could help you save up to 80% on prescription drugs. Plus, you can now get them delivered to your home in as little as 3 days. Search for your medication here.

Are prescription discount cards legit?

Prescription discount cards can help you save money on prescription medications at certain pharmacies. They’re free or low cost, and you may either have a physical card or use a digital version accessed online or via an app.

These discount cards are safe and legitimate , and according to some 2019 research, prescription discount programs have allowed people taking medications to see significant savings on the cost of their prescriptions. 

The amount of savings will depend on the specific card, pharmacy, and medication in question. With Optum Perks, for example, you can save up to 80% on your prescriptions. It’s important to note that discount cards aren’t insurance, and often can’t be used alongside insurance.

However, there may be some scam cards out there that are not legitimate. Be wary of cards that ask for high “activation fees” or ask you to pay for a subscription service. Remember to never give out information like your Social Security number or credit card information.

How do I make sure I’m getting the best price?

There are many ways to make sure you’re getting the best price for your medications, and it may not be the price offered by your insurance. The following steps can help you ensure you’re getting the best price for your prescriptions:

• Compare cash prices vs. insurance: You don’t need to assume that your insurance copay will be the lowest price. You can look up the out-of-pocket costs in your area to see if there are any deals that may be more affordable than your insurance.
• Get to know your formulary: Your insurance formulary is the list of drugs covered by your insurance plan, often categorized into tiers, with lower-tier drugs more likely to be covered.
• Compare pharmacies: You can compare prices at different pharmacies, as some may be more affordable than others. Some sites, including Optum Perks, have a comparison tool where you can see the prices at different pharmacies.
• Look for a 90-day supply: Many insurance plans and pharmacies offer a 90-day supply for the price of two 30-day copays. This effectively gives you four months of medication for the price of three every year.
• Ask for an alternative: If your doctor has prescribed an expensive, high-tier medication (which is one that may not be covered by your insurance), you can ask if there is a cheaper, lower-tier alternative you can try first.

Summary

Prescription drug costs can be very high in the United States, but there are many ways to save. You can try savings programs, discount cards, and other options. Comparing prices at pharmacies can also help you make sure you’re getting the best deals.

While it’s tempting to turn to social media sites like Reddit for answers about drug savings, it’s difficult to verify how trustworthy the answers to your questions may be.

Download the free Optum Perks Discount Card to save up to 80% on many prescription medications. Plus, you can now get them delivered to your home in as little as 3 days. Search for your medication here.