New research from the University of Chicago shows that the cost of retirement living can be reduced if individuals buy their medication in three-month supplies instead of one month at a time.
Nearly 27,000 prescriptions of roughly 400 different drugs were analyzed in order to prove that patients who bought their medications in three-month cycles saved a considerable amount of money, according to the study.
On average, people who bought their drugs four times a year spent roughly 30 percent less than those who made monthly purchases.
"These savings may not seem large to some, but they could help trim the cost of healthcare, which is especially important given the nationwide debate about how to finance healthcare reform," said Dr G. Caleb Alexander, the senior author of the study. "No matter what any healthcare reform package looks like, millions of Americans are burdened by prescription drug costs."
The American Heart Association says almost two-thirds of people in the U.S. currently use some form of medication. About 32 million Americans take three or more medications every day.
Alexander says drug costs can also be lowered by substituting brand name medications with generics.