Savings at the Pharmacy

With the cost of prescription drugs a worry for many Americans, you may be surprised to learn there are some savings options that are not impacted by your health insurance or possible lack thereof.  Many insurance programs provide only limited prescription drug coverage, making the cost of needed medications a challenge for many people.  

The Target Redcard, available as both a credit card and a check card, offers a 10% off shopping day at Target for every 10 prescriptions filled at the Target Pharmacy. The Redcard is available at redcard.target.com.  Target also offers low cost generic drugs, making this a good option for many people.

The Citi Business and Citi Professional Cards offered by citi cards offer a 10% to 60% discount on prescription drugs at participating pharmacies. While this is largely a business card, some consumers will qualify, and the discount can be quite valuable.

Bank of America offers credit cards specifically for Aetna and Caremark customers with additional rewards points for certain healthcare expenses. You will need to already be a Caremark or Aetna customer to qualify for these credit cards.  If you do choose to use a credit card for some healthcare expenses, be certain to pay it off in a timely manner to avoid ending up with additional interest charges on top of your healthcare expenses.

Some pharmacies offer their own rewards cards and other registration based discount programs. The CVS pharmacy ExtraCare program at cvs.com provides a 2% rebate in the form of store credit, with an extra CVS buck for every two prescriptions filled. If you have a local pharmacy that you prefer to use, consider asking if they have any rewards programs available. More and more pharmacies, including those in local grocery stores, are offering discount or rewards programs.

One of the best new discount prescription drug options is available to everyone. More and more discount stores are offering a long list of very low cost generic medications, available for just a few dollars per prescription. Today, these lower cost options are available at Wal-Mart and Target with a long list of medications for $4.00, and may be an option at some of your local stores as well. Consider asking your health care provider to keep this option in mind when prescribing medications to help you save. 

Take advantage of all the available benefits to keep your health care costs under control. That may include credit card or store rewards, low cost generics and more. While health care is always going to be costly, smart shopping can help keep your costs in check.