How Much Do Prescription Drugs Cost Without Insurance?

According to one survey, about 1 in 5 American adults didn’t have the money to buy the prescription medication that they needed.

Even if you have insurance, you’ll probably find out that the cost of prescription drugs can be insanely high.

But how much do prescription drugs cost without insurance? Keep reading to find out!

Average Cost

According to some research, the average cost that Americans spend on prescription medication is about $1,200 a year.

But the best way to find out the cost of prescription drugs without insurance is to go to the pharmacy or look online to see what others are selling it for.

For example, the Humira pen is used to treat ulcerative colitis, Crohn’s Disease, and arthritis. However, you’ll have to pay close to $7,000 for a supply that doesn’t even last a month.

That isn’t even the most expensive drug; that title belongs to Afinitor. If you don’t have insurance, you could pay up to $16,000 for a 28-day supply. This drug is used to treat cancer, and there is no generic version available for it.

In addition to that, there are other drugs, like Prozac and Insulin and Epipens that have increased their prices dramatically so that even people with insurance can’t afford it.

Why Are Prescription Drugs So Expensive?

You might be curious as to why they’re so expensive when some people rely on them to keep living.

However, they’re expensive because there is no regulation of the market. Each year, the prices keep going up and up, with pharmaceutical companies saying that they need to charge more in order to cover the cost of making the drug.

The Food and Drug Administration can control how the drugs are marketed, tested, and released. However, they don’t control what the price of the medication is.

In 2019, the government started making it a requirement for drug companies to list how much the drug is when they market it as well. This helped to give some transparency with the cost, but many patients are still left not being able to afford it.

The pharmaceutical companies also have a monopoly on who controls the flow of products. When they have that monopoly, they can name their price and people have no choice but to pay it since there is no alternative.

Until there is legislation passed by the government, these prices will likely continue to rise.

Why Are Some of Them Cheaper Without Insurance?

However, while prescription medications are expensive, you might find that some of them are actually cheaper without insurance. You’d think that your insurance would be able to get you the lowest price for a brand-name product, but some of them will only choose the brand name and not the generic version.

For example, if you had a prescription drug that only cost you $25 last year, your copay may have increased. Now it might make that drug $70.

The drug company still makes a great profit because it only cost them $10 to make the drug. However, the insurance is getting a bigger profit as well because you paid them as well.

Ways to Save

So if you don’t have insurance, don’t worry!

You can still find great ways to save money and try to avoid paying ridiculously high costs.

Shop Around

The best way to save on the cost of prescription drugs is to shop around and check prescription prices.

Thankfully, you don’t have to drive around to all of the different pharmacies now. You can check online or use apps that will help you compare prices.

They even have an option to tell you how much it would cost with or without insurance!

Split Pills

Sometimes people will have to pay for an expensive drug, but you can make it last longer by splitting the pill. This is a way to turn a ten-day supply into twenty days so you save money in the long run.

However, make sure you always ask your pharmacist or doctor if it’s okay before doing this. Some drugs cannot be split and could harm you if you try them.

Get a Discount Card

Even if you don’t have an insurance, you may be able to qualify for a free program to lower the price of your medications. This free program gives you a card or an app that will negotiate with pharmacies to make sure that you get the lowest price possible.

In order to qualify for it, you’ll have to meet certain income requirements and not have insurance. However, there are many of these resources available because people aren’t even aware that they exist!

Talk to Your Doctor or Pharmacist

If you really can’t find a way to afford your medications, make sure you let your pharmacist or doctor know. They may be able to find a cheaper alternative that would help you just as much.

You might find out that that thousand-dollar drug actually has a generic version that is only twenty dollars.

Learn More About: How Much Do Prescription Drugs Cost Without Insurance?

These are only a few things to know about how much do prescription drugs cost without insurance. But there are many more things you need to know!

We know that figuring out how to pay for medical bills can be stressful, but you don’t have to figure it out on your own. We’re here to help you out!

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