Feb 22, 2007 11:00 pm US/Eastern
3 On Your Side: Drug Rebates
by Jim Donovan
PHILADELPHIA (CBS 3) ―
Even if you have health insurance, the cost of prescription drugs can be high and co-pays can really add up. But there is a way to save and
3 On Your Side's Jim Donovan tells you how you can take advantage of drug rebates.
We've all heard how generic drugs can save us a bundle. But if your doctor prescribes a brand name which doesn't have a generic version, you'll be paying more.
Still there is a way to reduce your out-of-pocket expenses even if you have insurance.
Many pharmaceutical companies offer coupons and rebates. For instance, if you have asthma and take Advair, you could save up to $70 dollars.
For Zyrtec, the allergy medication, you can get up to $40 dollars in rebates.
Another example, Prevacid, the acid reflux drug is a $25 dollar rebate.
Now you can find those by going directly to the drug's website or log onto a brand new website optimizerx.com. It's like an online coupon center.
"Our mission is to improve affordability for the types of medicines patients need," said David Harrell, CEO of Optimizer Systems.
The free website links you to many brand name drug discounts offered by the manufacturers.
"Optimizerx is really for patients who have traditional health insurance or may be paying cash," said Harrell.
It's simple. Type in the drug you take or choose from a category of drugs.
"If there's not a savings available for that specific product, we'll show them alternatives within that class that they can consider," said Harrell.
Customers at Adams Discount Pharmacy in Glenside, which caters to the uninsured, think this is a great idea.
"$25 is better in my pocket than somebody else's," said Pam Cessario of Jenkintown.
"It sounds great because I pay full price for my prescriptions," added Lisa Stevenson of Oreland.
"The majority of our patients take brand name medications so this will definitely assist them," said Howard Brooker of Adams Discount Pharmacy.
It's a good idea to also ask your doctor about any rebates on any medications you're taking.
Keep in mind, most of these discounts are not available to patients on Medicare, Medicaid or state sponsored programs.
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