Avoid Overpaying for Over-the-Counter Medications: Tips From a Pharmacist

A seasoned pharmacist shares a few secrets for getting your money’s worth for over-the-counter medications.

by Andrea Norris-McKnight

The Dollar Stretcher got some money-saving tips from a seasoned pharmacist who worked for a major retail chain for a few decades. Here’s what they had to say about avoiding overpaying for OTC medications:

Editor’s note: Your health is never worth saving a few bucks. Always check with your doctor or pharmacist if you have questions about substituting one OTC medication for another or a home remedy or alternative therapy.

A Pharmacist Shares How OTC Med Manufacturers Trick You Into Spending More

When it comes to over-the-counter meds, this pharmacist has seen it all. “A lot of what’s out there is just marketing tricks,” they told us. “For instance, some cough syrups you see on the shelves are basically just watered-down honey. You could make something similar at home and save your money.”

The same goes for swimmer’s ear drops—often, they’re just alcohol. “People don’t realize that some of these products are so simple,” they explained.

Poison ivy treatments are another area where people often overspend. “If you get poison ivy, don’t rush for the branded solutions. Look at the active ingredients—they usually include calamine, diphenhydramine (Benadryl), and hydrocortisone. Buying these separately is often cheaper and works just as well.”

And with cough and cold products, “The packaging can be really misleading. They use words like ‘cold,’ ‘sinus,’ or ‘allergy’ to make you think you need their specific product. But if you compare the ingredients, you can often find cheaper alternatives that work just as well.”

Related: 11 Frugal Ways To Prepare Your Family for Cold and Flu Season

Tips for Saving on OTC Meds

Are you looking to cut costs on those over-the-counter meds? Here are some additional tips:

• Compare Prices: Take a moment to compare prices for similar products. You might be surprised at how much you can save by checking different brands or stores.
• Buy Generic: Opting for generic versions instead of name brands can lead to significant savings. The ingredients are often the same, but the price is lower.
• Use Store Brands: Many stores offer their own branded medications, which can be just as effective as the big names but at a lower cost.
• Shop in Bulk: Buying in bulk can save you money over time for products you use regularly, like aspirin or similar products. Just check expiration dates to ensure you will likely use them up before they expire.
• Look for Sales and Discounts: Watch for sales, coupons or discounts. Many product manufacturers and stores have promotions that can reduce medication costs.
• Consider Alternative Therapies: Depending on the ailment and symptoms, sometimes alternative therapies or home remedies can be effective and more affordable. However, as previously mentioned, don’t risk your health just to save a few bucks. Check with a doctor or pharmacist if you have questions about a home remedy’s effectiveness.
• Opt for an FSA or HSA: If you have a flexible spending account (FSA) or health savings account (HSA), you can use these funds to cover the cost of OTC medications.
• Use GoodRx: The GoodRx app can help you find discounts and compare prices at different pharmacies, ensuring you get the best deal possible.

• Inexpensive Home Remedies To See You Through the Cold Season
• Natural Health Remedies That Can Save You Money
• 10 Free Ways To Improve Your Health

Reviewed August 2024

About the Author

Andrea Norris-McKnight took over as the editor of The Dollar Stretcher and After 50 Finances after working under the site founder and previous editor for almost 15 years. She has also written for Money.com, GOBankingRates.com, HavenLife.com and The Sacramento Bee.