Consumer Reports: Saving money on prescription drugs

NEW YORK (WABC) -- Prescription drugs aren't usually cheap. In fact, people who regularly take a drug spend an average of more than $700 a year.

Being smart with where you buy the drugs can make a big difference.

Consumer Reports had its shoppers check out prices at almost 200 pharmacies.

You'd think that the price of a drug would be fairly standard. But Consumer Reports shoppers found that prices can differ by more than $100 for the same generic drug.

For example, a month's supply of atorvastatin, the generic version of Lipitor, ranged from just $11 to $199.

Lisa Gill, Editor of Consumer Reports Best Buy Drugs, says one simple way to save is just to ask for a lower price.

"It worked for our secret shoppers. In one case we saved $31," she said.

Costco's pharmacy is another good way to save. "We priced the cost of five common generic prescription drugs at nearly 200 pharmacies across the country. Costco was substantially less expensive than any other chain store," said Gill.

And you don't have to be a Costco member to fill your prescriptions there. But also don't rule out your local independent pharmacy. Sometimes they offer bargain prices as low as Costco's or offer to meet a competitor's price.

But you do have to ask. Wherever you shop, if you have insurance, don't automatically use it.

"For some medications, if your drug insurance co-pay is more than 10 dollars, you may be better off not using your insurance and just paying the retail price," Gill said.

Walmart, Sam's Club, Walgreens CVS, Kmart, Target, and other pharmacies offer hundreds of generic prescription drugs at deep discounts.

Prices are as little as four dollars per month and ten dollars for a three-month supply.