Simple ways to reduce prescription drug costs, include asking about alternatives and discount programs. PeopleImages/Shutterstock
Prescription drugs are a critical component of health care. They are also a significant part of health care costs and have risen in cost each year. In 2023, prescription drugs saw a 15.2 percent increase over 2022, according to an analysis by the Department of Health and Human Services. That equated to $590 per drug. The authors found that drug prices had increased by 46 percent, more than the rate of inflation.
Given the steep increase, for many people it’s become vital to find ways to buy prescriptions at lower prices. Even if you have health insurance with a drug plan, some tiers have high coinsurance or are not covered.
