Greater savings is available using coupons for brand name prescription medications.
Pharmaceutical companies offer coupons for discounts or rebates for two reasons:
1. To encourage you to try their medication
2. To keep you on their medication
Coupons are available through your doctor, your pharmacist or online. Try a Google search for “drug name” and “coupon.” You may even find offers in your local newspaper or favorite magazine.
Some pharmaceutical companies offer coupons for a free trial of medication, from a three-day introductory offer to an entire month’s prescription free. Others offer a discount or rebate on your out-of-pocket expense, including co-pay amounts, as high as $50 per month. Some are one-time offers, but many are renewable for a few months, or a year, or even for as long as you require the medication. The reusable for a few months or a year, or even for as long as you require the medication. The reusable coupons usually come in the form of a plastic card that you present to the pharmacy each time you need a refill. If the discount is in the form of a rebate, make sure you keep your receipts.
Some of these programs are not available to government-sponsored (Medicare and Medicaid) prescription plan beneficiaries.
A second type of coupon is offered through retail pharmacies and commonly involves new or transfer prescription. The coupon may be worth more than the price of the drug you are purchasing! Some stores will honor another retailer’s coupon as well. Potentially you could actually make a profit — transfer a $5 prescription and receive $20 in store merchandise.
Retail pharmacy coupons may appear in local publications, or show up in your personal mail. In general, they apply to either generic or brand name medications. Discounts may be offered on current or future prescriptions, other store merchandise, or even gasoline purchases. Some retailers offer gift cards rather than discounts. Large retailers offer gift cards rather than discounts. Large retailers offer coupons and discounts online as well. Go to your local pharmacy’s website for additional information.
If you’re lucky, you may able to combine a retail pharmacy coupon with that of a pharmaceutical company.
Happy coupon hunting!