Healthcare Industry News > Generic Prescriptions: How to find bargains

Generic Prescriptions: How to find bargains

Shopping around for prescription drugs may be a good idea in today’s changing market, particularly for people who use generics.  Most insured consumers do not bother to shop around for good deals, even though the uninsured have been doing this for years.  Now, a number of retail pharmacies are cutting their prices for many generic drugs so looking for bargains, even for those who are insured, could be a good idea.

Both Wal-Mart and Target started charging customers only $4 for many generic prescriptions late last year.  Kmart has rolled out a plan to charge $15 for a three-month supply and the Hannaford Bros. supermarket chain is offering a similar program but for only $11 for three months.  Even some CVS stores may be matching the prices offered by Wal-Mart and Target, although the policy is not available in all of the stores nationwide.

Even if a customer’s health insurance covers prescriptions, most medical plans require a copayment which averages $10 for one-month or $20 for three-months of generics.  Customers who shop around may be able to save $6 to $9 per prescription simply by shopping around.

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