Do you take a lot of medication? If you are taking regular prescribed medication from your doctor, it can be really expensive! Have you heard of prescription prepayment? This is a great way to pay for the medicine you need and actually save money in the process. Let’s look at how prescription prepayment works and if it could help you keep hold of some cash.
What Is Prescription Prepayment?
Prescription prepayment is when you pay up front for your future medication. It could be 3 months or 12 months that you choose to buy your prescription prepayment certificate (PPC) for. This covers you for any prescriptions, for that duration. If you are on some short term medication you might be better with the 3 month certificate. However, if you are on long term meds you will save more with the annual option.
How Much Does It Cost?
The cost of a 3 month prescription prepayment certificate is £29.65. For the longer term annual option you’ll be paying £105.90 every 12 months. You can buy your certificate online or over the phone with a card payment, or in full at a pharmacy. If you’re unable to pay for the full 12 month prescription prepayment in one go, you can spread the cost over 10 months with a direct debit. You can auto renew your PPC as well, meaning you are constantly covered for your meds.
How Much Money Could You Save?
You may be taking medication for your physical or mental health. Consider that the cost of a prescription right now is £9.15. If you have 2 prescribed medicines each month, you’ll save money with a prepayment certificate. Two items every month is going to cost you £18.30, which adds up to £54.90 over a 3 month period. This will save you over £25 during those 3 months. If you had more medication, you’d save even more.
Let’s use 4 monthly medications for our 12 month example. Over the course of the year, if you bought these individually you’d pay £439.20. The saving you could make by having a prescription prepayment certificate is over £330!
Are You Entitled To Free Prescriptions?
If you live in Scotland, Wales and Northern Ireland, you don’t pay for your prescriptions. It’s only in England where you do. You will not pay for your prescriptions if you are in receipt of certain benefits, which you might be if your financial situation has changed recently. Anyone over the age of 60 doesn’t pay, or under the age of 16. If you’re 16-18 and in full time education, you don’t pay either. If you’re pregnant or have had a baby in the last 12 months, you are exempt from paying for prescriptions. There are other situations where you won’t pay, including if you’re an NHS inpatient.
Be sure to check out if you can save money by paying for your prescriptions upfront with a prepayment certificate. Stay safe!
