Rx costs are on the rise. Find out why and what you can do to save on essential medicines. 

<div class="block">Rising costs of prescriptions are forcing people to skip out on essential medicines and rates are only expected to continue climbing. Lisa Gill, health and medicine investigative reporter at Consumer Reports, joined &#39;Stretching Your Dollar&#39; to explain why prescription costs are spiking and how people can navigate an already complex healthcare system. </div>

Stretching Your Dollar

Stretching Your Dollar: How to Save Money on Prescriptions

Today, we asked you on linkedin. Have you ever used discounts for your medications? We got about 1000 votes. 57% said yes, I would have voted yes. Uh, 30% said no, 13% said they didn't know they existed. Thankfully, our next guest is going to help us learn how to save on some of these prescription drug costs. It is World Pharmacist Day. And so we wanted to use the day to talk about how to tackle a major issue for American families and that's rising prescription prices according to a recent poll, about three in 10 people say they haven't taken drugs as prescribed because of the cost. And so for some insight into how to save on prescriptions, I'm joined by Lisa Gill, a health and medicine, investigative reporter at consumer reports. Lisa, thank you so much for joining. I know a report in the American Journal Health System said that pharmacy prescription drug spending is projected to rise by 2% points this year to 8% from 6%. What's behind that? You know, there's a couple of things one is and thanks so much for having me. This is such a great topic and I'm, I'm, I always love to talk about it. The actual price of medications so goes up. But at the same time, the thing that we really worry about is that insurance coverage goes down. So drugs get dropped from insurance coverage or sometimes insurers decide they're just not gonna cover it as well. And so your experience at the pharmacy counter is like, whoa, this, the price of this thing just went up that I really need. And then the question is, well, what do you do next? And that's, that's where we come in? Ok. So as these costs are set to rise, how can consumers find help? Right. So the first thing you want to figure out is, well, did the price of my drug just go up because it's more expensive or is there some issue with my insurance or even if you don't have insurance and you need a medication and you just can't afford it? My first stop always is the pharmacist and it's not just because it's National Pharmacy Day but, or International Pharmacy Day even, but your pharmacists, whether they're at a CV S A Walmart, a Walgreens or your local mom and pop pharmacy can, can begin to help you unravel well, why is this drug expensive? And is there another way to get it? They are really the really the doorway, the gatekeeper to like how you can get a medication for less money? Ok. That's good to know. Explain to our viewers, Lisa, what patient assistance programs are and how they might be able to help. Right. So this is a great option if you do not have insurance and you need an expensive medication for which there's no generic drug available. So, generic drugs for like 90% of what's out there, there are. So there's at least one generic and often there's two or three or four and that reduces the price. But for sometimes there, medications, there is no generic and drug manufacturers of almost all of them offer what's called patient assistant programs and all you have to do is go to their websites, all of them advertise it. It's typically under that name, but it's like how to afford medications. Click on those, those pieces of information and find out if you qualify. It's usually based on income and it, it actually can be quite high income. So don't think that you are, you don't have to be at poverty level. It's, it is for people who even make $100,000 or higher. Um, and at the same time, if you, if you don't want to deal with the website of the actual drug manufacturer, you don't know who makes your drug. You can visit Needymeds dot org free website. They index all of this information and we'll show you where to go. Ok. Really good Needymeds dot org. We will definitely bookmark that Lisa. Of course, coupons are part of the game here as well. Part of the system to navigate, how can people take advantage of these copay coupon programs, right? Ok. So these copay coupon coupon programs also are for branded medications where for which there's really no generic available. And it's typically for people who already have health insurance, but for whatever reason, the health insurance is just not covering that copay very well and maybe not at all. Again, go to the drug manufacturer com website. Find out look for the patient assistant, any any kind of like financial assistant or patient assistant or copay program link or also needed dot org. Also indexes these and figure out, you know, and, and it, it just takes a couple of clicks. It's not actually that hard, but almost everyone offers almost every drug manufacture offers a copay program and you can wind up getting very expensive medication for like zero or very low pay cost. I know sometimes consumers have to jump through hoops just to get insurance to cover a specific medication. Lee says we talked about a little earlier, any tips on how to navigate that, I guess specifically drill down because we did kind of cover some of them earlier. Totally. So, you know, if the, if the drug company and the copay program is not gonna work out for you or a patient assistance program is not gonna work out your next your your other step that I think is always worth trying. If the medication that you're taking is expensive or it's just not affordable. And it's the only one that works for you and you need it indefinitely is to file an appeal with the, the with your insurance company. And to do that, you know, it's a medical appeal. So you are going to need the help of your doctor. You're gonna need to enlist their help to a couple of things, fill out the forms. There will be a form process and also write a letter on your behalf, explaining medical situation, other, any other treatments you have tried and failed on and why this medication specifically is unique to you and is working well for you. You, you'll need them to really attest to how well it's working for you. You know what if that, if one more thing, if that doesn't work, uh try your, try your hum. I know this is crazy. But try your human resources department. If you get your insurance through your employer, o often depending on what kind of insurance your employer has, they might be able to make the decision anyway. And it may, it may just simply come down to them just deciding. Yeah. You know what we're gonna cover? Ok. Interesting. Uh So recently we've seen online sites like Good Rx and Cost plus drugs pop up. What are the benefits of these sites? And do you think that they might be a first stop for prescriptions. Sure. So a couple of things, good Rx is an online coupon. I mean, there are a lot of things, but one of the things that they really excel at is finding discount drug coupons based on your zip code based on the medication, all the specifics about it as well. And they index essentially incredible discounts across the board at all pharmacies in your area. So that is a great place to, to go if you've decided and believe it or not, sometimes this, this is the case that a drug is actually cheaper to, to buy and fill, fill your prescription without using your insurance. Try go Rx dot com. You will, you, you are very likely to find excellent discount coupons. Your pharmacist can also look it up for you. Ok? If I'm just going to jump in because we are tight on time. So many good tips, I think applicable to many of our viewers from the youngest age, obviously to the oldest age. So we appreciate your time. That's Lisa Gill Reporter at consumer reports.