How Meeting With Your Pharmacist Could Save You Money

Prices for brand-name drugs widely used by Medicare beneficiaries increased by nearly 41 percent from 2005 to 2009, Fox Business reports, citing an AARP study from March. If this reality has hit your elderly parents’ wallets, you might want to check out the end of the article, which has a few tips on reducing drug costs. For example, in addition to talking with the doctor, you can consult that other medication expert:

Explore less expensive drug alternatives with your pharmacist. Review the list of drugs you are taking and your plan’s drug formulary and tier structure with your pharmacist. This Medication Therapy Management may involve a fee, but in the long run you may well come out a saver, says [report co-author Leigh] Purvis.

The good news? Generic drug prices the report looked at have decreased by almost 31 percent, according to the article.

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Leigh Ann Otte is a freelance writer who specializes in health and aging issues. She covers finding and paying for senior care for OurParents. If you have any questions about this post or need help finding senior care options for a loved one, call 1-866-483-4896 to speak with a care advisor in your area.