x
Breaking News
More () »

Shopping around for prescription drugs can save hundreds

When it comes to prescription drugs, do you comparison shop to see whether you can get a better deal? We shopped around 10 different Seattle-area pharmacies and saved more than $700.
We shopped around for prescription drugs and saved more than $700.

Millions of Americans understand the high price tags of prescription drugs. But, a little comparison shopping could actually save money if you have time to shop around.

For our test, KING focused on 10 different pharmacies in the Seattle-area, including national retailers, grocery stores and independent pharmacies.

We called those pharmacies seeking a quote for their “cash price” for a one-month supply of the generic versions of Pioglitazone, for diabetes; Atorvastatin, for high cholesterol; and Clopidogrel, a blood thinner. We asked for the same amount of pills and same dosage.

“The best advice is to ask lots of questions,” advised Elise Orlick, director of WashPIRG, a consumer advocacy organization. "If someone doesn't know the cost of their drugs before they have the prescription filled, and they don't know that they can be saving money elsewhere, that's a huge problem."

Our investigation found prices quoted varied widely from pharmacy to pharmacy.

Bartell Drugs delivered the highest price tag, $778. The least expensive price quote was from Costco, where we were told a one-month supply for the same three prescription drugs would cost $45.

Walgreens, CVS, Rite Aid and Cherry Street Pharmacy quoted us close to $500. Walmart came just under $200, and Fred Meyer and Katterman’s Sand Point Pharmacy even lower.

Why the difference in quotes? A spokesperson for Bartell Drugs sent us this statement:

“All pharmacies obtain their drugs through drug distribution companies who sell at wholesale. Large, national pharmacy chains that deal in high volumes of prescriptions often have the option of getting drugs at lower wholesale costs due to those volume discounts.”

A spokesperson for Walgreens explained only a small percentage of Walgreens’ customers actually pay cash prices.

“More than 97 percent of prescriptions filled at Walgreens are paid for using some form of insurance coverage or a savings program such as our Prescription Savings Club,” Walgreens spokesperson Scott Goldberg wrote in an email to our Portland sister-station KGW.

Walgreens offers discounts off the cash price of brand-name and generic medications through its Prescription Savings Club (PSC). PSC is not medical insurance. Customers must sign up and pay a membership fee, $20 individual or $35 family per year.

In our test, we found a one-month supply of Pioglitazone could range from $15 to $357.

Based on these numbers it sounds like simply walking to the pharmacy across the street could save you hundreds, but retailers say that is not always the case. The total price could come down due to coupons and discounts.

“Ask the pharmacy if there are any discounts that they can give you, and even consider that it might be cheaper to pay out of pocket rather than using your insurance,” said Orlick.

A Consumer Reports secret-shopper investigation in December had similar findings. Consumer Reports called more than 150 drug stores in six major U.S. metro areas. Consumer Reports found consumers may be better off paying cash instead of using insurance. The survey also reinforced the importance of asking for the lowest possible price for a drug.

Retailers we contacted stressed that most customers use insurance and do not pay the cash price. They also said if someone does pay cash, there are discounts that can bring the price down.

Here are five things you can start doing right now to save money on prescription drugs:

  • When you are at the pharmacy counter – start by asking for the lowest possible price for the prescription drug. And keep in mind, it might cost less than your co-pay.
  • Ask about in-store discounts.
  • Search for coupons online.
  • Consider shopping at buying clubs, like Costco. You do not have to be a member to use the pharmacy.
  • Comparison shop. If you call around, pharmacies will tell you the price if you ask in advance.

Before You Leave, Check This Out