6 Tips for Reducing your
Out-of-pocket Medication Costs
Article by Dan Klein, president and CEO of the PAN Foundation
(BPT) - When you're sick, the last thing that you want to worry about is how you're going to pay for your critical medical treatment. Even if you have health insurance, you may find that the prescription drugs you need the most are out of reach due to high out-of-pocket costs - the deductibles, copays or coinsurance that are not reimbursed by insurance. Many people find themselves choosing between paying bills and buying essential prescription medications.
Nonprofit organizations like the Patient Access Network (PAN) Foundation, an independent charitable organization dedicated to helping people with the out-of-pocket costs for their prescribed medications, can help alleviate some of that pressure. Dan Klein, president and CEO of the PAN Foundation, offers the following tips for relieving some of the stress and financial burden for people struggling to afford their prescription
medications.
1. Talk to your doctor or pharmacist
Your healthcare team can help you find ways to manage your out-of-pocket costs. Skipping doses of medication or failing to fill prescriptions because they're too expensive can make your treatment less effective. Doctors, pharmacists and other healthcare providers often have access to drug samples, coupons and information about organizations that can help you get the medication that you need at a price you can afford. While it can be hard to discuss your finances with your healthcare team, being clear about what you can afford can help them tailor your treatment plan effectively.
2. Ask your doctor to prescribe generic drugs
Generic drugs can be a great way to reduce your out-of-pocket prescription costs. Many name-brand drugs that are