Prescription drug spending is on the rise. Nearly 40 percent of people reported difficulty affording their prescription medications, and more than 20 percent said they struggled to pay for basic necessities like food and housing as a result, according to a recent GoodRx Health survey. The good news is there are ways to save on prescription drugs. Check out the tips below.

7 Ways to Save on Prescription Drugs

• Alternatives: Ask your doctor if there are less costly prescription-drug alternatives that would be effective, or if over-the-counter drugs could be used.
• Samples: If you are prescribed a new medication, ask for a sample first to check its effectiveness and whether there are side effects before buying.
• Mail order: Look into using mail order for obtaining prescription drugs, as it can be less costly.
• In-network discounts: Take advantage of your in-network discounts for prescription drugs.
• Generics: Use generic prescription drugs when possible. Read more about generics below.
• Take as directed: Taking medications as prescribed is important for your health and may help you avoid additional costs in the future. See more about this topic below.

Generic Drugs vs. Brand-Name Drugs

Using generic drugs vs. brand-name drugs is one of the most effective ways to save on prescription drugs. Generic drugs have the same active ingredients and are as effective as brand-name drugs, but they generally cost significantly less. In fact, the U.S. Food and Drug Administration (FDA) says that prices for generic drugs are estimated to be 80 percent to 85 percent less than brand-name drugs. 

Many Americans have already  select generic drugs vs. brand-name drugs. In the U.S., 9 out of 10 prescriptions filled are for generic drugs, according to the FDA. Members of self-funded health benefit plans administered by Star Marketing and Administration, Inc., use generics at a high rate and are encouraged to keep up the good work.

It’s Important to Take Medicine as Directed

However, many people do not take their medication as instructed. They may not take the proper dosage, at the correct time of day, or for the prescribed length of time. Known as medication non-compliance or medication non-adherence, this behavior is “unfortunately fairly common, especially among patients with chronic disease,” according to the American Medical Association.

According to the Checkup by SingleCare, experts  say this behavior can lead to:

• inadequate treatment
• complications
• more emergency room and hospital visits

Plus, it will likely cost more in the end.

Trustmark Small Business Benefits^® Approach

Self-funded health benefit plans administered by Star Marketing and Administration, Inc., focus on providing members with access to the right medications at the right price. Keeping that core goal at the forefront, we employ rigorous quality, efficacy and safety standards and work closely with our pharmacy benefit manager, CVS caremark, to help control costs.

We help control prescription drug spending by providing:

• Member access to 90-day supplies¹ on long-term medications².
• Member access to specialty drug pharmacies, when needed.³
• Effective management of prescriptions, known as utilization management.⁴

Members can follow this link to learn more about their prescription drug benefits.

Members may find out if a drug is covered by their self-funded benefit plan and what to expect to pay by registering at caremark.com and using the Check Drug Cost & Coverage tool from CVS caremark. Watch this video to learn more.

For more information about saving on healthcare costs, follow this link.
 
This article is part of our Healthy Foundations^® Wellness Newsletter.

¹ Major medical plan designs that we administer allow doctors to prescribe a 90-day supply of long-term medications. Members can fill the prescriptions at any CVS Pharmacy or with CVS caremark Mail Service Pharmacy. Actual quantity may vary depending on the plan design.
² A long-term medication is taken regularly for chronic conditions or long-term therapy to treat conditions such as high blood pressure, asthma, diabetes or high cholesterol.
³To offer better prescription prices on specialty drugs, which typically are more expensive than drugs in other tiers, members of plans administered by Star Marketing and Administration, Inc., are required to fill their specialty drug prescriptions at CVS caremark Specialty Pharmacy. Learn more at caremark.com.
⁴ To provide access to quality medication at the right price and to help ensure the effectiveness of prescriptions, industry standards for specialty guidelines management, prior authorization for specialty drugs, quantity limits on certain medications and other utilization management programs are employed.