RadioBDC Logo
Talk About Love | O-Positive Listen Live
 
 
< Back to front page Text size +

Cutting your prescription drug costs in half – literally

Posted by Jamie Downey  November 18, 2009 07:49 AM

E-mail this article

Invalid E-mail address
Invalid E-mail address

Sending your article

The cost of many prescription and over the counter drugs, specifically generics, has declined in recent years. I give full credit to Wal-Mart for this wonderful price reduction. When they introduced prescription drugs for $4 / month, everyone thought they were crazy. Now every major drug retailer has followed there lead and has a similar program in place. No federal government program was needed to bring down the costs, just a great retailer like Wal-Mart. (As a side note - it amazes me that Mayor Menino wants to keep Wal-Mart out of Boston. Apparently his union supporters take precedent over low cost, life saving medicine for the citizens of Boston.)

However, prescription drugs that maintain their patent protection are still very expensive. Methods to cut cost are not so apparent. Nevertheless, I recently heard of a method that in some cases can cut and individual’s drug cost in half. Furthermore, it is so simple; I am ashamed it never had crossed my mind. The process is as follows: simply ask your doctor to prescribe to you two times the required dose of the drug you need. Then, simply cut the pill in half. The single pill becomes two pills and you get twice the drugs for usually the same price. My understanding is that most drugs cost the same amount regardless of their dosage. If you need 30 milligrams of a drug once per day, ask for a 60 milligrams prescription. Obviously, you need to confirm with your doctor that this is an option and will not reduce the efficacy of the drug. For certain drugs, i.e. those in capsule form, extended release, etc. it is not an effective option. However if the doctor agrees that the drug can be split without reducing efficacy, it may be worth a try.

This blog is not written or edited by Boston.com or the Boston Globe.
The author is solely responsible for the content.

E-mail this article

Invalid E-mail address
Invalid E-mail address

Sending your article

ABOUT MANAGING YOUR MONEY
Local finance professionals share insights and advice on issues such as budgeting, managing debt, and retirement planning.

About the contributors

D. Abraham Ringer is a CERTIFIED FINANCIAL PLANNER practitioner and a Financial Adviser with Morgan Stanley Global Wealth Management in Boston. He is registered in MA, NH, NY and several other states to which his articles are directed. For more information please visit www.morganstanleyfa.com/ringer
Financial Planning Association™ of Massachusetts has 900 members who specialize in the financial planning process. Many of its members engage in philanthropic pro bono work in their communities, recommend legislation, elevate public awareness, promote financial literacy, and advocate for sound economic and tax policies.
Odysseas Papadimitriou is the founder of CardHub.com, a credit card and gift card marketplace, and WalletHub.com, a personal finance site. He has more than 13 years of experience in the personal finance industry, and previously served as senior director at Capital One.

E-mail your question

Name:
E-mail:
Your question/comment:
archives