If you have a high deductible health plan (also known as an HDHP), you'll be paying out of pocket for most prescriptions and medical services until you hit your deductible.
Plans vary, but deductibles for 2018 range from $1,350 – $6,550 for an individual and $2,700 – $13,300 for a family. If you're reasonably healthy, odds are high that you won't satisfy your deductible and receive co-pay benefits in the course of a typical year.
For prescriptions, your insurance may get you a lower price than just paying cash at the pharmacy, but it'll generally be more than a typical co-pay, especially for brand-name drugs.
This is where GoodRx comes in. Cash and coupon prices are often lower than insurance co-pays. A 30-day supply for some generics are available for under $4 or even free. For expensive brand-name drugs, your plan's price may not be as low as the prices GoodRx can find, especially if the drug isn't on your plan's formulary. In addition, GoodRx offers all sorts of other discounts and savings tips. It always pays to shop around.
If you use GoodRx in place of your health insurance, just ask the pharmacist to process the transaction using the coupon or discount card instead of your insurance. You can also use your Health Savings Account (HSA) to pay for prescriptions when you use a GoodRx discount.
Remember that the cost of prescriptions purchased using GoodRx discounts will not automatically count toward your deductible. If you have other medical expenses, or if you have several expensive prescriptions, it may make more financial sense to use your insurance to satisfy your deductible.
Find additional HDHP cost savings tips here.