When Unexpected Sickness Occurs

Life is the pure representation of the word ‘unexpected.’ Try as we might, regardless of our own personal efforts and planning, we cannot always predict what will come our way next. And unfortunately, much to everyone’s dismay, we cannot always prepare for the unexpected.

For instance, getting sick.

From the start of the fall season until winter’s end, there is a galore of exciting festivities, traditions, and the like as the holiday season descends upon us all. Such musing tends to flood our mind when we think upon this time, however the one thing we do not want to reflect on  is the least pleasurable. That one thing being cold and flu season.

Though not necessarily exclusive to the season, there is always a drastic increase in the number of cases of colds, flu, and other illnesses during this time of year. Thus, increasing one’s chances of contracting whatever ailment might be going around.

Not only does coming down with a cold affect your health, but it can also affect your finances. Yes, we are referring to prescription medications.

Medications Are Not Only Seasonal Staples

When we think about needing medication prescription, we are likely to think about the various times when we have fallen sick and the financial toll associated with one’s recovery.

Making Prescriptions Affordable

You find yourself queuing before the pharmacy desk awaiting to get the prescription your doctor has sent in to be filled. After a brief period of time, you find yourself being serviced, you have provided your name and verified your personal details and all that is left to do is pay for any out-of-pocket expenses and then you will be on your way. However, as you go to open your wallet, your eyes suddenly become wide as you hear the amount due from the pharmacist.

You find yourself in a state of disbelief as you ramble about how such a price could be possible. To this, the pharmacist only shakes their head, goes on, and explains why the price is at what it is. Be it you have not met your deductible with your health insurance, or the medication prescription was not covered by your insurance. Nevertheless, your heart drops and you want to be sick as your head begins to spin.

This is clearly a Money Mayday®.

Feeling overwhelmed, you are not sure what to do. Clearly you need the medication, but realistically you have no idea how to even afford it. It is a horrible feeling. One that everyone has felt at one point or another. What you are feeling is a lot and truly taxing, but what does not have to be hard is finding means to make prescription medications affordable.

And we have a few money tips to help you navigate the costs.

Before we go on, we do strongly urge you to speak with your doctor before taking any actions that could impact your prescription or health. Please only act after having been provided full and proper medical advice and do not act based on advice found in this blog or online.

• Talk To Your Doctor: First and foremost, the most important thing is to reach out to your doctor in regards to any concerns regarding medication availability or cost. For some people it might be considered taboo to talk about finances but speaking up can often save you money. Doctors can help lower your costs by possibly prescribing a generic brand or recommending a less expensive treatment option, sometimes they even have free samples! If taking medication on a long term basis, another option may be a 60- or 90-day supply, often you pay less per dose when you buy a larger amount.

• HSA or FSAs: Also known as Health Savings Accounts or Flexible Spending Accounts. These additional programs are accessible through your employer and their health insurance offerings. By choosing to optimize this option a selected dollar amount of your weekly pay will be allocated to a separate savings account that can help pay for medical expenses - including prescription medication.

• Optimize Store Rewards or Loyalty Programs: By now everyone has tired of being asked to join every single store’s loyalty program or email list. It is understandable as we already have our inbox flooded with a sea of unwanted emails and who really wants to continue to give out personal information? There are certainly reasons to decline membership but sometimes they can potentially help you get cash back rewards. It’s common with pharmacy chains to offer programs that reward you with in-store cash back or discounts for meeting certain thresholds on previous purchases. These small savings could help you lower the cost of your prescription.

• Discount Prescription Coupons: Another straightforward way to chip away at prescription medications is by taking advantage of discount codes and coupons. Online price comparison platforms such as GoodRX offer discount codes that can be used at pharmacies near you and many pharmaceutical companies offer coupons for select medications.

• Price Compare: Everyone has their preferences to where we patron, but sometimes it pays to shop around for the best price - or even where your insurance might service you best. Thanks to online tools like Pharmacy Checker, you can do a quick online search to see where you can find the most affordable prescription medication cost nearest you.

• Mail-Order or Online Pharmacy Options: Shopping around does not exclusively mean only considering pharmacies that are physically located close by. There are also several viable options that exist as mail-order services or online options that can help you find ways to afford prescription medication. As there are options on these fronts to be had, it is important to investigate them thoroughly. The easiest way to check their credibility and determine savings is to check with your insurance company to see if they are in-network.

• Local and Government Assistance and Programs: From online resources, government based, and community rooted there are a variety of programs and assistance options available that help people gain affordable prescription medications.

I Need a Prescription, But Do Not Have Insurance

No insurance? You are not alone. According to research from MoneyGeek published in May of 2023, a recent survey found that 9.2% of Americans find themselves having no health coverage. That equates to about thirty million people, roughly the entire populace of the state of Texas.

Avoid a Prescription Medication Money Mayday®

Life happens. Accidents happen. Sometimes we get sick. We might discover we have developed a medical problem unexpectedly. Or even our genetics decided to develop issues that run in our lineage. All of these are unavoidable aspects of life.

It is true that it is always critical to do everything we can to stay healthy. Eating right, getting exercise, keeping hydrated, getting plenty of sleep and the like. But the reality is, no matter what efforts we might put forth we will likely end up needing medical attention and/or medication at various points in our lives. We cannot blame ourselves when our health becomes impacted.

Regardless, getting sick or even injured can not only cause havoc on your body. But also, on your mind as your stress levels increase. When you are already not feeling your best the last thing you want is to face financial headwinds that hinder your ability to get the medication you need.

There are various scenarios we might find ourselves in that leave us wondering if it is an obtainable feat to get our necessary medications. From a high deductible yet to be met, excessive price, lack of insurance, or the dreaded Medicare donut hole.

Fortunately, there are ways and means to be able to successfully obtain your prescription medication without fear of a Money Mayday®. Just as not every medication works for every single person the same way, there is no specific way that works for everyone when it comes to navigating medication costs. Finding a way that works for you might take trial and error, but it is achievable.

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Not all consumers may qualify; certain restrictions apply. See store for details. In California, deferred deposit loans are provided in accordance with the Department of Financial Protection and Innovation pursuant to California Deferred Deposit Transaction Law, Cal. Fin. Code §23000 et seq.

Not all consumers may qualify for loan products noted above; certain restrictions apply.  All products and services not available in all states or stores.  Rules, fees and limits apply.  See store for details.

California:  In California, deferred deposit loans are provided in accordance with the Department of Financial Innovation pursuant to California Deferred Deposit Transaction Law, Cal. Fin. Code §23000 et seq.