Americans spend $1,400 on prescriptions per year — here’s how to save big on medications

With the average American spending more than $1,400 on prescription medications a year, many people look to cut corners to help budget themselves — with dangerous and even fatal consequences.

“For many, that’s a budget buster, so they skip doses or delay filling prescriptions,” Charlie Harger said on “Seattle’s Morning News” on KIRO Newsradio. “Money-saving strategies that can have some serious, life-threatening consequences.”

Herb Weisbaum, a contributing editor at Checkbook.org known as “The ConsumerMan,” shared a few ways people can spend less on prescription medications.

“One way is by (getting) a larger amount,” Weibaum said. “If you know you’ll be on a drug for more than three months, ask your doctor, ‘Can I get a prescription for 90 days supply?’ Chances are you’ll pay significantly less per dose than with a 30-day supply, and you only get that if you have insurance. You only have that one co-pay.”

He also recommends checking at least one online coupon site, such as GoodRx or SingleCare.

“There are a whole bunch of them to see if the price you pay is cheaper,” Weisbaum said. “If you don’t use Medicare or insurance and pay yourself, these discounts can be up to 80% off the cash price. Personal story: My wife and I were taking a prescription drug. It was generic and it was $12 and we were buying it for years and years. All of a sudden, we pull up to the pharmacy and, this time, it’s $122. Like, what? So I said, ‘Take it back.’ We went home, got on the computer, logged onto GoodRx, and found a coupon for 12 bucks at another pharmacy in our neighborhood just a mile away.”

Listen to the full conversation here:

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