The Genius Hack That Will Help You Save On Prescriptions

82% of the public say that the current cost of prescription drugs is unreasonable. According to a report from the US Department of Health and Human Services, 1,216 different prescription drugs experienced a faster-than-inflation price increase from 2021 to 2022. These prescription drugs experienced an average price increase of 31.6%, with some drugs increasing by as much as 500%. While these price increases would hurt most American’s wallets on a good day, general inflation, rising housing costs, and increased medical care costs make the timing of these particular prescription drug price increases even worse.

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Costco’s size allows it to take advantage of larger purchasing power which, in turn, leads to better prices on prescriptions. In fact, their prescription drug prices beat Medicare pricing about 50% of the time, according to a study from USC. Plus, a secret shopper report found that Costco charged the lowest cash prices for prescription drugs (which can be important for anyone without insurance or anyone looking to avoid insurance for prescriptions). The Costco Membership Prescription Program offers additional discounts on prescriptions (and even allows you to easily search for your specific prescription drug online in order to price compare with other pharmacy options). This program is only available to Costco members, however.

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