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8 Ways to Save Money on Medication Costs

8 Ways to Save Money on Medication Costs - Health Tips in Hindi

Medications are essentials for maintaining health conditions. Their high costs can pose challenges for individuals with limited financial resources to access necessary treatment. The expenses associated with Research and Development Limited Competition, Regulatory Compliance, Marketing and Advertising contribute to the soaring prices of medications. This makes it challenging for individuals, with low incomes to afford healthcare. Fortunately in todays age there are strategies and programes available to help save money on prescription medicine expenses. Below are 8 ways to reduce costs and prioritise your health without breaking the bank:

Buy Generic Medicines: Generic medicines have the same active ingredients as brand-name drugs but are much cheaper. Online pharmacies like Truemeds focus on generic medicine online at an affordable price. You can visit their app or website to know more about how generic medicines work. They can also guide you on if there is a generic version available for your prescription.
Consider Online Pharmacies: Online pharmacies often offer lower prices than local pharmacy stores due to reduced overhead costs. Additionally, they provide free online medicine delivery, adding to the convenience. When you buy medicine online, ensure you choose a reputable pharmacy that sells genuine medications to guarantee safety and effectiveness.
Compare Prices: Prices for the same medicine can vary between pharmacies, so it's essential to shop around. Use online platforms or visit different pharmacies to compare prices and find the best deal.
Use Discount Coupouns: Many pharmacies offer prescription discount cards that can help you save money on your medications. These cards may provide discounts or cashback on your purchases, so be sure to ask your pharmacist about them.
Take Subscriptions: Keep an eye out for special offers and promotions at medicine online pharmacies by taking their subscriptions. They may offer discounts, buy-one-get-one-free deals, maximum discount offers, or free delivery options that can help you save money.
Check for Subsidised Programs by Govt: If you're struggling to afford your medications, there are government programs and nonprofit organisations that offer subsidised or even free medications to those in need. It's worth checking with your local health department or social services agency to see if you qualify for any of these assistance programs.Additionally, many government health schemes and initiatives encourage the use of generic medicines, which are often more affordable. Local health centers or government-sponsored pharmacies, known as Janaushadhi Kendras, provide these cost-effective options. If you're prescribed a generic medicine during a hospital visit, you can often buy it directly from the hospital pharmacy.
For more information, here is a list of free medicine schemes offered by the Government of India.
Jan Aushadhi Scheme
Jan Aushadhi Medical Store
Pradhan Mantri Bhartiya Janaushadhi Pariyojana
For State Government and Government Agencies
Bureau of Pharma PSUs of India (BPPI)

Invest in a Health Insurance: If you have health insurance, check to see if your plan covers prescription medications. Some plans may offer discounts, reimbursements or co-pay, helping you save money in the long run. Co-pay, or co-payment, is the amount you pay out-of-pocket when settling a claim, while the insurer covers the remaining cost. When purchasing prescription drugs, it's important to understand the co-pay tiers of your insurance plan. These tiers typically include:
Generic Drugs (1st Tier): Usually the lowest co-pay.
Preferred Drugs (2nd Tier): Moderate co-pay.
Branded Drugs (3rd Tier): Highest co-pay.

In some cases, the co-pay for a medication might be higher than the cost of buying it directly. To avoid unexpected expenses, request your insurer's drug formulary, which is the list of covered medications. If you're still unsure about the cost, contact your insurance provider to clarify the co-pays for your medications.
Buy Bulk medicines: Purchasing medicine online in bulk can often result in significant savings. Instead of buying a one-month supply, consider buying a three-month supply if your doctor approves. Just make sure to check the expiry date before purchasing in bulk.
Saving money on medication costs is achievable, with a bit of effort, awareness and interest. Opting for drugs comparing prices utilising discount cards purchasing in bulk and making the most of deals can help you manage your medication expenses while still prioritizing your well being. There are also treatments or therapies that may be more cost effective than medications, in certain situations. It's important to discuss all options with your doctor before deciding on a course of action. Exploring government subsidized programs and selecting a health insurance plan can also assist in reducing medication expenses. Remember, maintaining health shouldn't break the bank so take charge of your medication costs today by being proactive.

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