How to save money when prescription drug costs go up



Groceries and gas prices weren’t the only things that went up.

Drug costs are also increasing.

But in the case of prescription drugs, experts say, inflation is not the culprit.

Regardless of rising costs are affecting others.

Julie Schuester, a Cape Coral resident, isn’t sure how she now pays for her prescriptions every month.

“The prescriptions went through the roof. I mean having one is $100 and I think I could do without it,” she said.

Drug prices usually increase at the beginning of the new year.

“There isn’t necessarily a reason for that, it just happens that time of year and if you pay attention you might notice some of the prices you pay for things you believe in are higher. level they used. Victor Claar, an economist at Florida Gulf Coast University.

The Bureau of Labor Statistics keeps track of how much you pay at the pharmacy.

Their records show that from November 2021 to December 2021, inflation increased slightly by 0.1%.

Claar said drugmakers can raise prices more often in part to pay for research and other drugs.

But there are options.

“We patent it, then when the patent expires, we get a lower-priced generic version. So the good news is that we get more drugs faster because of the incentives that patents bring, but it also means that the price of that drug will be higher initially than it will be later on. ,” said Claar.

But for Schuester, she still has to make a difficult choice, food or medicine for herself.

“If it happens to it, I guess people will go without it. They will go without, instead of spending some of the money they have,” she said.

How to save some money on medicine:

  • Shop around. Some pharmacies are cheaper than others.
  • See if you can get a 3 month supply instead of a month. Pay more upfront but you save a few dollars and trips.
  • Consider programs like Good-RX.
  • Or contact the manufacturer, who can offer coupons.

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