Did you know that you can save money on your prescriptions by using companies such as GoodRx, SingleCare, and Rx Saver?
These companies are prescription discount services that lower the cost of medication. Here’s how they work:
1. Partnership with Pharmacy Benefit Managers (PBMs):
By partnering with PBMs, which are companies that negotiate drug prices with manufacturers, GoodRx, SingleCare, and Rx Saver can access lower wholesale prices for medications.
2. Generating Coupons:
Based on the PBM agreements, these companies generate coupons that offer significant discounts on prescription drugs.
3. Accessing Coupons:
Coupons are accessible through their websites and/or mobile app. By searching for specific medications at these sites, one can find the best available price.
4. Presenting Coupons at Pharmacies:
Once you have a coupon, print it out or show it on your phone and present it to your pharmacist when picking up your prescription. The pharmacist will apply the discount, and you will pay the lower price.
5. No Insurance Required:
These coupons can be used regardless of whether you have health insurance. This is a great option for people who don’t have insurance or have high deductibles. However, the payment does not get applied toward your deductible.
6. Additional Savings:
GoodRx also offers a rewards program and you can earn points for using their coupons. These points can be redeemed for additional discounts.
7. How These Company Make Money:
The companies generate revenue through a variety of sources, including: fees from pharmacies for using their coupons, subscriptions, and advertisers.
Ask you CAAC provider about one of these options at your next appointment!
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