How To Save on Prescription Drugs Without Insurance?

Prescription drugs can be costly, whether you're insured or uninsured. In fact, the cost can sometimes influence people's decision even to take the drug. However, there are different solutions to utilize to save money, including buying bulk prescriptions to requesting the generic version. Below we go into detail on 10 ways to save money when purchasing your prescriptions.

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How to Save Money on Prescription Drugs Without Insurance

According to data collected by the Kaiser Family Foundation, nearly a quarter of adults taking a prescription say it’s difficult to afford their medications. Let's take look at 10 ways to help you save on prescriptions.

1. Ask About Generic Prescriptions

While not every medication is offered as a generic version, the ones have the same active ingredients and effects as the brand-name version. The generic version, however, can cost up to 80% less. 

When speaking to your healthcare provider, always ask about the generic version. This way, if possible, they can prescribe the generic version so you can save money.

2. Utilize a Flexible Savings Account (FSA)

If you have access to an FSA program at work, you can put money into the account and pay for your medications with pre-tax dollars. For example, if you’re in the 25% tax bracket, this effectively gives you a 25% discount on your medications. 

It can be a valuable benefit for people who know how much they will spend each year on medication and other health purchases. This is important because you will forfeit the money if you don’t spend all the money in your FSA by year-end.

3. Buy Prescriptions in Bulk

Buying prescriptions in bulk can help you save money (like Costco)! 

Some medications are available in a 90-day-supply— you can inquire either through your local pharmacy or through your insurance company’s pharmacy plan. If it’s a new medication, you may want to start with a regular 30-day supply to ensure the drug is right for you. Then, once you are comfortable, move to a 90-day supply.