Ways to Save Money

This Guy Found a Painless Way to Save Over $3,700/Year on His Prescriptions

July 10, 2016
by The Penny Hoarder
Contributor

Ryan Sawicki was working hard as a health insurance broker in Salt Lake City when, all of a sudden, his company reduced his commission by 60%.

Unwilling to accept the extreme pay cut, Sawicki made a brave decision: to quit and start his own company.

Although it was exciting, it was also stressful, and meant he and his wife had to be extremely careful with their money.

There was one expense they couldn’t afford — but also couldn’t cut out: The medications that help Sawicki manage his nearly 15 years of chronic back pain.

Luckily, he found a solution that saves him 48% on his prescriptions — a total of $312 per month, or $3,744 per year.

How Sawicki Saved So Much on His Prescriptions

You comparison-shop for nearly all of your purchases — groceries, cars, clothing, etc. — but have you ever comparison-shopped for prescription drugs?

Probably not… because most of us aren’t aware prescription drug prices vary based on which pharmacy you buy from and which discount card, insurance card or coupon you use.

Sawicki works in the health insurance industry — and didn’t even know. But in his desperation to save money after quitting his job, he decided to price-check anyway.

He spent hours calling every pharmacy in his area. And even though the prices were different, all the results were grim.

“Everybody was going to charge me $400-$500 [for a month’s supply],” he says.

Then he remembered hearing about a company an acquaintance of his started called LowestMed, which could supposedly provide prescriptions at a reduced cost.

So he downloaded the app — and quickly found a pharmacy discount card enabling him to get the very same medication for a fraction of the price: $210.

Sawicki checked his other prescriptions. Another he’d been paying $200 for was only $78.

For nearly a year now, Sawicki has been using LowestMed pharmacy discount cards to save 48% on these two prescriptions — $312 per month, or $3,744 per year.

“That’s a lot of money to free up for me, so I’ve used it on plenty of things,” Sawicki says.

“Everything that doesn’t go towards [my meds] goes to another bill,” he explains. “I’ve been able to pay my car insurance or car payment; I’ve flown down to Dallas to see my parents.”

Could LowestMed Help You?

LowestMed is “a discount program for prescription drugs” that gets prices from multiple sources, helping users get the best deal possible. It says its users generally find “savings of 10-85% off retail prices” — whether they have insurance or not.

For example, Sawicki has “pretty darn good” insurance. But he still uses LowestMed for half his prescriptions, simply because the prices are better.

LowestMed is “fighting the battle against high Rx prices” and is free for consumers to use (it earns money from pharmacy referral fees). It includes prices for all FDA-approved drugs, many of which are heavily discounted.  

To use its services, you don’t need to register or give out any personal information — not even an email address.

“We do not collect, track or sell your medication, search or purchase information,” the site explains.

Curious? Here’s how to try it out:

  1. Using the LowestMed site or app, enter your medication and zip code.
  1. The company will present you with a list of prices at local pharmacies. If you see a price and pharmacy that works for you, click “Show Card.”
  1. Get your prescriptions filled at that pharmacy. When you pay, present either a printed version of the discount card, or pull up the LowestMed app.
  1. Keep on saving! The pharmacy discount cards can be used over and over again, and never expire.

With a few clicks, you can see if LowestMed’s pharmacy discount app or website could save you money on your meds — just like it did for Sawicki.

“Had we not had LowestMed, I don’t know what we would have done,” he says.  

Your Turn: Did you think prescription drug prices were the same no matter where you shopped? We sure did!

Sponsorship Disclosure: A huge thanks to LowestMed for working with us to bring you this content. It’s rare that we have the opportunity to share something so awesome and get paid for it!

by The Penny Hoarder
Contributor for The Penny Hoarder

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