Prices for prescription drugs have skyrocketed in the last couple of years --A 7.1 percent hike in 2004 alone, according to a market study released by AARP. With the escalating costs and the ever-higher number of people without full benefits, is there a way for families on an average income to afford prescriptions?

Although there are no foul-proof methods, here are some options that may help you reduce your expenses.

Find Out Beforehand What Your Insurance Covers  

Do you know how much your co-payments for prescription drugs are? Is there a maximum amount per year? How much? What happens if you reach the maximum? Is there a formulary (a list of covered drugs) for your plan? How are out-of-pocket expenses prearranged? These are all valid questions to which you should have an answer before you sign with any insurance plan. The questions become even more urgent as you get older or if you take a prescription on a regular basis.

Get a Discount Prescription Card

Your employer's group insurance plan may provide you with one, or you can choose to sign for a plan on your own. Some drugstore chains (such as Eckerd) offer their own card, or you can go with a national plan.

Plans have the added benefit to let you shop at any pharmacy, but they usually charge you a yearly fee (around $50 covers the whole household). Discount cards may save you up to 30 percent of the quoted price, depending on the drug. If you take a monthly prescription that runs into the hundreds, you'll probably recoup the fee in a couple of months.

People with or without medical insurance can use these cards, and many states offer special programs that award these cards to seniors.

Shop Around

Prices are rarely fixed, especially when it comes to generics. Compare-shop at different local pharmacies to find the one that offers the best deal. Prices can also vary according to drugs, so because a pharmacy charges less for something doesn't mean it would be cheaper to shop there for all prescription drugs. Ask around.