Breaking Down The Cost Of Prescription Drugs
Canadians spend around $253.5 billion on n average; annually on prescription drugs. This amount includes private insurance and personal money.
Body deterioration is inevitable with increasing age, and today due to unhealthy lifestyles even the youth is falling prey to numerous health conditions.
People are spending a huge chunk of their income on treatments and medicinal drugs; in some cases to an extent that they have to compromise on several aspects of their life. Treating mental and physical health is putting a strain on people’s finances. This is why there’s a need to figure out a way to minimize the expenditure on prescription drugs.
Here are a few tips to reduce the cost of prescription drugs
Table of Contents
Doctor’s Recommendation
Quite a lot of prescribed drugs are to be consumed for a stipulated period of time. Overconsumption, the higher dosage can cause adverse effects on the body and intensify the health condition instead of curing it. This is why you should always keep your doctor and pharmacist in the loop. It is mandatory to inform your healthcare provider if you are planning to start a new medicine or cease the consumption of an old drug. Also, make sure you inquire and follow the dose allotted by your doctor. Taking doctor’s recommendations is beneficial since it evaluates the effect of the medicine on you, periodic assessment of your illness, and reduces chances of complications.
Follow Medical Instructions
Get acquainted with and educate yourself with the knowledge of health conditions and interventions. You can also take the assistance of your pharmacist to learn better. Know the dose, the side effects, how to evaluate, how long should the medicine be consumed, when will improvements be prominent, etc. It is obligatory to obey your doctor’s word without a doubt.
One might skip doses to save money, but this might bring up consequences that might be more exorbitant to deal with. Hence, one shouldn’t skip doses, take a different dose or avoid refills. As the surveys depict; 5% of emergency cases and hospitalizations in Canada occur because one didn’t adhere to the instructions.
Know Your Prescription Drug Coverage
When applying for a coverage plan, look into what it consists of. Some postulates to look at would be –
Percentage of coverage
Check the percentage of coverage per year that can be availed for prescription drugs.
Formulary
The formulary incorporates the list of medications the coverage will pay for. Certain insurances do not cover a few medications; hence look at the formulary too.
Deductible
A deductible is a pre-amount one has to pay after which the coverage can be used for additional charges. This is the money to be paid out of pocket after which the benefit of insurance begins. Choose a policy with a negligible deductible.
Tiering, prior authorizations are a few other aspects to consider.
Don’t Go For Brands
Branded drugs charge you higher for the same treatment and drug composition. It can be startling to know that the ingredients, efficacy, and side effects of drugs of different brands are the same. Therefore, choosing generic medicines can treat you the same for an affordable amount. You can converse with medical experts when doing this, so you choose the right medicine.
Check For Free Samples
Research indicates that pharmaceutical representatives give out 10 million pills to Canadian doctors to create brand awareness. How does this help you as a consumer? You can take these as samples for free! Inquire if your Healthcare provider has free samples of the drug you’ve been told to consume. You can trust the authenticity of it since your doctor gave it and it can save you a lot of money.
Shop Online and From Cheaper Pharmacies
Pharmacies charge dispensing fees due to which the price of drugs differs from one pharmacy to the next. Go for the pharmacies charging less dispensing fees. You could also order online as it not only helps in cost reduction but also gets the medicines directly to your doorstep. When ordering online though; ensure the pharmacy is registered.
Subsidized Programs
Nova Scotia, Alberta, Ontario, British Columbia are a few plans that let you avail yourself drugs at subsidized rates. Canada has these territorial and provincial programs for selective groups like elders, below poverty level, retirees, natives, disabled people, etc. If you fit into any of these categories, this is the right option for you!
As popularly said; Prevention is always better than cure. You can always take all the precautions to ensure you stay healthy. Despite this, diseases can creep through, and health deterioration is undeniable.
Using the above strategies can help you reduce the expenses on prescribed medicines, as a result of which you don’t have to bury your desires because you ran out of money. You can spend because you want to and not because you have to.