Rising Prescription Costs - Shield Insurance Agency Blog

Rising prescription costs

Rising Prescription Costs

As healthcare premiums are increasing you may have noticed rising prescription costs. In a study done by Consumer Reports in 2019, 12% of individuals said their prescriptions costs increased by more than $100 over the past year. One contributing factor is that there are no federal regulations that keep drug prices in check.

How are consumers able to offset rising prescription costs?

Ask your doctor for generic: 

Most brand-name drugs have generics that can be up to 90 percent cheaper. They aren’t available for all prescription drugs, but it doesn’t hurt to ask your doctor or pharmacist.

Ask about over-the-counter options: 

Some medications can be a combination of two inexpensive drugs that you can purchase without a prescription.

Use manufacturer discounts: 

Many drugmakers offer some type of discount. For example, Janssen, which makes Xarelto, offers a discount that can drop the price down to $10.

These are not all the ways you can help reduce your prescription costs but are some of the most effective ways. As always if you have any questions regarding your healthcare costs please talk to one of our insurance agents.

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