Generally, online pharmacies offer lower prices than traditional brick-and-mortar stores. A recent study by the AARP found online pharmacies offered an average of 20% lower prices for common medications compared to their physical counterparts. This saving stems from lower overhead costs for online businesses. However, this isn’t always the case, and individual prices can fluctuate.
Factors Affecting Price Differences
Several factors influence pricing. Insurance coverage plays a significant role. Your co-pay might be lower at a local pharmacy due to negotiated rates with your insurer. Mail-order pharmacies, a subset of online pharmacies, often offer discounts for larger quantities of medication. Generic drugs consistently show greater price variations, with online pharmacies usually offering more substantial savings. Conversely, brand-name medications may have less dramatic price differences.
Recommendations for Finding the Best Price
Check prices at several online pharmacies and compare them to your local pharmacy. Use prescription comparison websites to simplify this process. Factor in shipping costs when comparing online prices. Explore your insurance plan’s formulary for potential cost savings with specific pharmacies. Lastly, consider the convenience factor; if the time saved outweighs a slightly higher price, a local pharmacy might be the better choice.
