Pay Less for Drugs

Grab Generics
Whenever you can, opt for generic drugs, which on average cost less than a third as much as their brand-name counterparts, according to the National Association of Chain Drug Stores. If you're paying retail for one prescription a month, you'll save $863 a year by going with the generic version instead of the brand name. Got drug coverage? You'll still save $13 on the average prescription co-pay, or $156 for a year's supply. And don't forget about over-the-counter medications: By sticking to the no-name store brand, you'll save $100 of the $400 that the average American spends annually on over-the-counter drugs.

Go Postal
Call your drug insurer, a.k.a. your pharmacy benefits manager, and ask if you can order your prescriptions directly from the plan. Typically you will save 15% to 35% on your monthly co-payments at the pharmacy, or nearly $90 a year on the average prescription.

Split em up
High-dose pills are generally priced the same as their low-dose counterparts, so ask your doctor if you can safely split a higher-dosage pill in half. You'll save about $179 to $610 a year per prescription if you don't have drug coverage or 50% on your co-pays if you do.

Ask for Samples
Drug companies give away tons of samples to physicians, so your doctor may be able to supply you with several weeks' worth of medication at no charge. Bonus: If you discover after a few days that the cream for your rash isn't working, you won't be left with an expensive tube of goo you can't use.

Shop Mom and Pop
The federal government doesn't regulate prices on drugs sold at pharmacies, so your costs can vary widely depending on where you buy. In New York City, for example, the price for 30 tablets of the widely prescribed antidepressant Paxil recently ranged from $97 to $180 at various stores. If you live in Connecticut, Florida, Indiana, Maryland or New York, you'll find drug prices posted online at the website of your state attorney general's office (search "prescription"); otherwise, call a sampling of pharmacies in your area. The best prices are often found not only at discounters like Costco and Wal-Mart but also at drugstores that aren't part of a chain, says University of Maryland School of Pharmacy professor Bruce Stuart. "They have full authority to set their own rates because they own the place," he adds.

Find a Cheaper Alternative...
If there is no generic version of a brand-name drug you're taking, ask your doctor about a therapeutic substitute or an older drug in the same category. A drug that has been on the market for more than 10 years will almost always have a generic version available.

...Or Buy Online
You may find the best deal of all at an online drugstore, particularly if you order more than one prescription at a time. Recently, for example, you could order a 90-day supply of Lipitor, a popular cholesterol-lowering drug, for $306, or as much as 30% off typical retail prices, at drugstore.com. To make sure a site is legit, check to see that it carries the seal of the Verified Internet Pharmacy Practice Sites (VIPPS), a quality-control program sponsored by the National Association of Boards of Pharmacy (nabp.net).

Sign up for Medicare Part D
Open enrollment for the government's drug plan for seniors runs from Nov. 15 to Dec. 31. If you're 65 or older and don't currently have drug coverage, sign up as soon as you can. Average savings on drug costs: 28%. If you delay and need coverage in the future, you'll get hit with a permanent penalty of 1% of your premium for every month you were eligible and didn't enroll. If you're in good health now, simply choose the lowest-cost plan in your area; you should be able to find one with premiums of less than $10 a month. Already enrolled? Now is your opportunity to switch to a different plan if you're not satisfied with the one you have. Compare plans in your area at medicare.gov.

Go for the discount
No drug coverage? Visit the Partnership for Prescription Assistance website (pparx.org), which has links to more than 400 patient-assistance programs offering discounts on more than 2,500 medications. Most programs require you to demonstrate financial need. But some, such as Merck's discount card, are open to all income levels.