Save Big $$$ on Your Prescription Drugs
New report shows prices vary widely and calling around can help you save.
May 6, 2008 — -- A new report finds you may be drastically overpaying for prescription drugs if you don't shop around.
Consumer Reports called 163 pharmacies nationwide to compare the price of a three-month supply of various drugs and found "a wide variation in prices depending on where you shop," said Tod Marks, the magazine's senior editor.
The magazine found that prices could vary by as much as $100. For example, the anti-clotting drug Plavix varied from $382 to $541, depending on the store.
The survey also showed that where you live matters, too. The same exact medication cost $160 in Omaha, Neb., but $257 in Billings, Mont., even though it came from the same pharmacy chain.
"It depends on competition in any given area," Marks said.
Overall, Consumer Reports found Costco had the lowest costs and Rite Aid was the most expensive. Rite Aid told ABC News that it prices competitively with other chain drugstores, not warehouse stores, but that it will look at these results and consider changing prices accordingly.
How to Save on Your Prescriptions
Call around to different pharmacies to compare prices.
Choose generic alternatives over name-brand drugs.
Consider an independent pharmacy. It's not the very cheapest, but it is highly competitive.
Ask whether your pharmacy has a discount program.
If you're truly struggling financially, you may even be able to get "free" medicines from the pharmaceutical industry's patient assistance program. Contact the makers of medications you use.