Synthroid’s price varies significantly. Several key factors determine the final cost you pay.
Insurance Coverage
- Your insurance plan’s formulary dictates whether Synthroid is covered and at what cost-sharing level (copay, coinsurance). Check your Summary of Benefits and Coverage (SBC) for specifics on Synthroid coverage. Many plans have tiered systems favoring generic levothyroxine. High deductible plans often lead to higher out-of-pocket expenses.
Generic vs. Brand-Name
Generic levothyroxine, the active ingredient in Synthroid, is considerably cheaper. While Synthroid is a well-known brand, generic versions are often bioequivalent. Discuss alternatives with your doctor.
Pharmacy
- Retail pharmacies vary in pricing. Comparing prices across multiple pharmacies, including online pharmacies, may yield savings. Consider using pharmacy discount cards or coupons to potentially reduce costs. Mail-order pharmacies sometimes offer lower prices, particularly for long-term prescriptions.
Dosage and Supply
Higher dosages or larger prescription quantities naturally result in higher costs. Discuss with your doctor if adjusting your dosage or prescription frequency would reduce the overall expenses without compromising treatment.
Manufacturer and Supplier
While Synthroid is manufactured by Abbott Laboratories, fluctuations in supply and market dynamics can affect prices. Less common, but occasionally relevant, is negotiating with the supplier for a lower price. Your pharmacist may be your best resource here.
Location
Geographic location plays a role. Prices may differ between states or even within the same city.
Negotiation and Assistance Programs
- Contact the manufacturer directly; some pharmaceutical companies provide patient assistance programs that can help reduce the cost of medication. Explore options like patient assistance foundations, which provide financial aid for prescription drugs.
