You might assume that if you are on an insurance plan, prescription plan, or even a discount plan, the costs from one pharmacy to the next will be the same.

There are two reasons. First, if your medications are not covered, obviously you want to get the lowest prices you can.

But...did you know that your insurance price may not be the lowest price?

Frequently a pharmacy lowers their standard prices to meet the insurance negotiated prices. However, several pharmacies, such as Costco, guarantee to provide your prescriptions at the insurance price OR their price, whichever is lowest. And, surprisingly frequently, the Costco price is lowest. There are many reasons for this, but the only important one for this exercise is, are you paying the lowest price possible.

To see how your rates compare, check online sources. For this example, we will use Costco.com and drugstore.com.

You don't need to be a member of costco.com to compare their prices. Simply go to www.costco.com, click on the "Pharmacy" menu up top, and on "Learn More/Pricing Information" on the page that follows.

You may type in a medication name, or select from their list. A link to the drug, or possible drugs, will appear. Select the link, and scroll through the prices to determine your dosage. Check prices for various pill sizes, and even quantities.

In your spreadsheet or table, add a column and record the prices of each medication in the size and quantity per month you have previously calculated for your current pharmacy.

Remember, insurance prices MAY be lower, this is their default price.

After you have made it through all your medications, repeat at www.drugstore.com

Select Low Prices from the left menu, and perform a drug search as before.

You should now have a table something like:







Now...remember, you do not have to buy ALL of your prescriptions at the same place. If the prices are the same at your regular pharmacy for most drugs, do what's easiest. BUT, if for even one drug you find a significant price difference, consider purchasing at least that one elsewhere.

NOW, I'm NOT recommending Costco or Drugstore.com, these are examples. Do your own research, and see what you can find for your own needs.

A few other things to factor in...if you use a 5% cash back for drugstores, if you have executive membership and AmEx with Costco (3% back), if you can purchase bulk quantities (3 months at a time)...factor all those possibilities in to find the best savings for you.


Happy Saving.