Tips for Managing Medication Costs

Prescription use has increased dramatically over the last ten years. With increased use comes increased cost. Pharmaceutical manufacturers spend billions of dollars each year advertising to physicians and consumers about their latest and greatest medication. It's not always clear if more medication and more costs lead to better health. The best way for consumers to get the best value from their prescription dollars is to get more involved in their health care.

1) Get involved.

Getting involved means asking questions, looking at your options and taking the time to really think about your treatment choices. By following these simple steps you can ultimately feel better and save money.

2) Ask questions.

When talking to your doctor about starting a new medication find out if the costs and side effects are worth the benefit. To help you do this you can ask your doctor questions like:
- Why do I need to take this medication?
- How much can this medication actually benefit me?
- What does the science say about this medication?
- What are the side effects? What if I want to stop taking it?
- How much does it cost? Is it safer or more effective than the alternatives?
- Is a generic available?

3) Ask for generics.

Many people are surprised to discover that less costly generic medications are as safe and effective as brand-name medications. Generics cost less because manufacturers compete and lower prices, not because of difference in quality. If a generic is not available, talk with your doctor about the availability of less expensive brand-name medications

4) Consider your options.

For each common illness there are usually many medication options. An example is medications that lower cholesterol. Lipitor, an expensive brand-name medication was the number one selling medication in the world in 2006. There are four similar generic medications, including some that cost one-tenth the price of Lipitor. These generics have also been proven to help people avoid heart attacks and strokes. We are proud that the most commonly used cholesterol medication for all Regence members is a generic called simvastatin.

By taking just a little time at your doctor's office to understand the costs and benefits of your medication choices you can have better health and save money over the long-term.

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