4 ways to save money on prescriptions this year

SALT LAKE CITY — A new year often means your healthcare deductibles reset. With recent subsidies expiring it's driving up premiums for many families, which means paying more out-of-pocket at the pharmacy is a reality. KSL medical contributor and pharmacist Phil Cowley shared four ways to save money on prescriptions. He explained that there is usually room for savings through discussion and comparison, so never assume the first number is fixed. "That first price that comes across from the pharmacist, that's the beginning of the negotiation. That is not gospel," Cowley said.

Ask for the Cash Price

Cowley's first recommendation is to ask for the cash price, even if you have insurance. He explained that this is a way to compare multiple pharmacies' prices at the same time. "Every pharmacy doesn't have the same price, and even if you have insurance, there's ways to get that lower," he noted. He suggested using online tools like GoodRx and SingleCare, which can help you find lower prices and manufacturer coupons. "A lot of times, those cash sites that they put on there and tell you how much you should be paying without insurance," Cowley explained. "The cash price will include things like manufacturer coupons and things like that that you had no idea you could look for."

Check Prices Through Online Price Apps Before Going In

"Make sure when you walk through the door, you know what you should be paying," Cowley advised. He suggested using trusted online pharmacies as a starting point, emphasizing only using sites that are trustworthy or that you've purchased from before. "Use that, take it into the pharmacist, and say, 'Hey, can you do this? Can you get close to this?' And sometimes you can, sometimes you can't," Cowley said. "Sometimes you have to go directly to the manufacturer and they'll send you the medication from the manufacturer, cutting everybody out and saving you a lot of money." He explained that this approach is especially helpful for high-cost medications like weight-loss drugs. "Some of the easiest ways to get it for people's prices that are highest is just go straight to the manufacturer and they'll ship it to you for half the price that pharmacies even can purchase for," he said.

Buy Up to Six Months Without Insurance

Cowley explained that insurance will say you can order one to three months of a prescription, but purchasing it without insurance means you can get up to six months of non-controlled medications. "You can take that price, which will be substantially lower, and turn it into your insurance on a secondary form … and it'll still count towards your deductible," he said. He emphasized that it is important to follow through and submit your receipts online so that those expenses apply toward your deductible.

Ask the Pharmacist for Alternatives

Cowley recommended asking the pharmacist directly: "If you were me, what would you do?" He emphasized that this is the best question you can ask your pharmacist, and it often leads to helpful suggestions such as switching to similar medications or using coupons. "It changes the conversation and I guarantee you will find a better price," he said.

Find more advice from Phil Cowley online, @philsmypharmacist.