The beginning of the year means big changes in the cost of prescriptions for all Americans. Whether you have insurance, Medicare, or no coverage, you’ll find that the price you pay is likely changing.
Here are some valuable tips to save in 2016:
If you use GoodRx to save:
The beginning of any new year brings changes to prices and discounts. Some drug prices are up, others are down—it all depends on your prescription. We want you to know that the price you receive may be a little different than previous refills.
What do I need to do?
To ensure that you receive the lowest price, we recommend:
- Go to GoodRx (www.goodrx.com or our mobile app).
- Look up your prescription.
- If we have a coupon at your pharmacy, present that coupon to the pharmacist at the time of your next fill.
- If the pharmacist provides a different price, ask them to double-check that they have the current coupon on file.
If you find that a new pharmacy has a lower price, it’s easy to transfer your prescription. Simply call your new pharmacy and ask them to transfer your prescription for you. Remember to provide a new coupon if it’s a discount price.
As a reminder, we always recommend checking GoodRx every time you fill (or refill). We never want there to be any surprises when you pick up your prescription. Our prices are updated daily, and it’s always possible that another pharmacy or coupon may offer you a lower price the next time you fill.
If you have insurance or Medicare:
80% of American workers have a health plan with a deductible. Deductibles are ‘reset’ every year—that means you’ll have to pay out of your own pocket until you hit your deductible and your benefits kick in.
Average deductibles have climbed to more than $1,300 this year, while employees working for small businesses are facing $1,800 average deductibles. 1 in 5 Americans have a deductible of more than $2,000.
Most insurance plans provide little coverage for prescription drugs while you’re in the deductible phase of your plan. You’ll be paying a very high price until you satisfy your deductible—which is why you should always compare your insurance price with GoodRx to see if we can help you save.
Many insurance plans also change their formularies (the list of drugs they cover) each year. Some of the major changes to drug coverage in 2016? Some of the most common plans are dropping weight loss drugs like Qsymia, hepatitis C meds like Viekira Pak, and brand-name drugs that went generic like Abilify. See our post on formulary changes for more infomation.
One piece of good news: the amount you’ll pay in the infamous Medicare “donut hole” will continue to shrink in 2016.
At GoodRx, our mission for 2016 is to continue to provide you with the best discounts and most accurate prices so that you can be an educated healthcare consumer.
Happy new year!