Prescription medications can be one of the biggest and least predictable costs in retirement. Prices for the same drug can differ between pharmacies, and your plan's coverage may change from one year to the next, so it's worth reviewing rather than assuming you're paying the best price.

Ask your pharmacist whether a generic or a lower-cost alternative is available for any of your medications. They can also tell you whether a larger supply, a mail-order option or a different pharmacy in your plan's network might cost less. Some discount programs and manufacturer assistance options also exist for people who qualify.

Never switch, split or stop a medication on your own to save money. Talk with your doctor or pharmacist first, since they know your full health picture and can help you find a safe option. When your health plan gives you a chance to change coverage, review how your current medications are covered before choosing a plan.