Always purchase generic drugs – both prescription and over the counter. Since brand name drugs are usually much more expensive than their generic equivalents, ask your physician and pharmacist if a less expensive generic or an over the counter alternative is available.
Be sure to take advantage of the recently introduced “low cost” generic drugs available at several national retailers and grocery stores. The medicine is equally effective as name brand medicines.
Even if your insurance covers the cost of the medicine, you should still shop as though you’re spending your own money – because you are. All insurance payouts are eventually passed back on to the consumer. If their costs are reduced, your premiums will be protected from increases.
The same is true if your employer pays 100% of your health insurance premium. The more money they pay for this benefit, the less they’ll have available for your salary.