Save on Medications

Nobody likes to be sick, and it’s even worse if you have a chronic illness that’s expensive. If you’re sick and not working, you have no cash coming in, but the bills keep arriving and the cash keeps going out. Taking a fresh look at your expenses and considering different ways to manage them could help reduce costs and relieve worries.

You can save money on healthcare and prescription drugs during retirement even if you already have a chronic illness. If you are on a regular medication, or must begin a new one, ask your doctor or pharmacist if there is a less expensive alternative or a generic. Or you might be able to “split pills” using an inexpensive pill splitting tool that’s made especially for that purpose. Most of the cost of many medicines is in the tablet, rather than the strength, and your physician might be able to prescribe a double strength tablet that you can split into two doses for little more than the cost of your current dosage. That could mean monthly savings of nearly half as you retire on the cheap.

Doctors regularly hand out free samples of drugs, especially for a new prescription. If you start a new medication, as many of us in retirement do as we age, ask for a sample if it’s not offered at the outset. In addition, pharmaceutical companies sometimes have programs to provide critical medications free or at reduced cost to some patients. If you need help with prescription costs, phone the manufacturer of your medication to find out if you qualify.

Another place to look for healthcare savings is to negotiate with your doctor. If you are a long-time patient and you have lost your 401k or other retirement savings, discuss it with your caregiver. He/she is likely to be willing to continue to provide care at a reduced rate. Chances are good that you will find cooperation: the doctor doesn’t want to lose your business any more than you want to leave. Alternatively, you might be able to visit less often for your condition, such as every six months instead of every three months, or once a year instead of twice.

Because most of us are now on Medicare, you should be familiar with the “doughnut hole.” You can postpone or prevent this extra cash outlay by not including generic prescriptions in your Medicare Part D purchases. Thousands of pharmacies now offer 30-day supplies of generics for $4, or 90-day supplies for $10. Most Part D plans claim the much higher retail price. If you pay for these cheap generics out-of-pocket rather than turning them in for payment, you can save your coverage for your more expensive drugs, and you might be able to avoid the doughnut hole altogether.

If you need a major medical or dental procedure, you might consider going outside the U.S. to have it done. Many other countries offer excellent quality care at much lower prices than are available in the U.S. The Web is the best source for locating such care, and many facilities are highly reputable, rivaling any in the U.S. In fact, a good number of doctors in foreign nations were trained in the U.S. You will find referrals as well as testimonials on the Web.

With careful planning, diligent tracking, and attention to details, you can reduce the high cost of caring for your illness.

Copyright 2010, Linda Manley

Author: Linda Manley
Article Source: EzineArticles.com
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