The cold tax: How to save on cold and flu meds

For this week’s No More Ls column, we’re looking at the cost of having a cold, if it’s worth a day off work, and if you can save money at the drug store.

There’s an old joke in medicine that goes like this: “If you treat a cold, it lasts seven days. And if you don’t treat a cold, it lasts a week.” In other words, there’s nothing you can do to make that virus go away. But that doesn’t stop us from filling up a basket at the pharmacy, trying to feel better.

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While current estimates of how much Canadians spend on over-the-counter cough and cold preparations vary, health information company IQVIA reported we spent more than $360 million on these products in 2021. Cold medicine? That feels a bit more like a cold tax!

That $360 million works out to about $10 per person a year. With all due respect to the researchers, I cry foul. Has anyone ever done a cold medication run for that amount? Treating these seemingly innocent illnesses always feels like a small fortune. But does it have to?

Don’t spend your money on “miracle cures”

Dr. Valerie Hertzog, a family physician and lifestyle medicine physician in Ottawa, says there’s some truth to the idea you have to let a cold run its course.

“The common cold is caused by different viruses, so there isn’t a medication that cures the infection itself,” she says, and home and over-the-counter remedies only treat symptoms.

“Most of what we buy at the pharmacy is designed to help us feel better while our immune system does the work of clearing it. No medication you buy will reliably make a common cold disappear faster.”

Cold and cough season doesn’t just cost money in terms of the products we buy but also in the work we miss. If you’re a non-salaried employee who’s too ill to work, you may be in a very difficult financial position. No wonder it’s tempting to buy something which promises to cut your cold time or severity in half.

Unfortunately, it won’t work. Save your money and follow Herzog’s advice: “For most otherwise healthy people, the basics really do matter: rest, adequate fluids, good nutrition and treating individual symptoms when needed.”

Yes, you can buy cold meds on sale

While cough syrups, decongestant tablets and throat lozenges may bring you some much-needed relief, they can also hit your wallet–especially when you’re at the mercy of the prices at that one 24-hour store on a long weekend.

What can you get? There’s the dual pack of daytime and nighttime tablets, promising a clear head by day and deep sleep at night. You’re going to grab cough syrup, of course, maybe in a daytime and a nighttime version, too.

Your throat is killing you so you pick up some numbing lozenges and maybe some cough drops as well. Can’t hurt, right?

And maybe a menthol ointment rub will help with your congested chest? Throw in the obligatory treat (box of Popsicles for me), and you’ve just spent a lot of money.

One frugal strategy is to watch for sales and stock up in advance, if you know a certain product makes you feel better. Like any other item, cold and cough products periodically go on sale at major drug stores. In my experience, you can save 20% to 30%. 

I personally like to get the dual packs of daytime and nighttime tablets. They’re easy to store, like many other medications; they travel well; and the blister packs keep them dry and clean. Individually wrapped throat lozenges are also on my list. If you buy products in advance, check the expiration date to be sure your purchases won’t expire before you’re likely to use them.

As someone who gets a whopper of a cold every year after Christmas—like clockwork—I’m following this advice and search for sales now.

Generic versus brand name medication

If you want to save money, it’s well worth trying the generic version of your favourite branded product. Check the box. “If the medicinal ingredient and dose are the same, there usually isn’t a reason to pay more simply for the brand name,” says Hertzog. “Look at the active or medicinal ingredients rather than focusing on the branding on the front.”

Also, chat up the pharmacist and ask them about the generic versions. They’re happy to explain any differences and, in my experience, are enthusiastic proponents of the money-saving power of generics.

Less might be more

Your pharmacist can also help you choose medications for certain symptoms—and tell you which to leave on the shelf.

“People can easily end up spending more than they need to,” says Dr. Hertzog. Plus, with combination products, such as cough-and-flu medications, you could end up taking drugs for symptoms you don’t have. “There’s also a risk of accidentally doubling up on the same ingredient across multiple products.”

Your pharmacist can help you decide whether one value-priced general-purpose product will suffice or whether a medication that targets specific symptoms is better. They can also clarify any dosing instructions for children. They’ll likely remind you of this important fact as well: Health Canada recommends against giving non-prescription cough and cold medications to children under six.

Do cheap and cheerful cold home remedies work?

Yes, and Grandma’s homemade soup just might help. There’s no denying that broth hydrates, is easy to digest, and the hot liquid soothes a sore throat and helps clear mucus. And, of course, homemade soup is packed with love, the best medicine of all.

Can soup make a cold virus go away? Again, No. Nothing can. But it’s an affordable, comforting way to ease some symptoms.

Honey is another home remedy with the potential to make you feel a little or even a lot better. Studies published in the Cochrane Database of Systematic Reviews, along with others, suggest that honey’s soothing effect can help reduce how much you cough when you’re sick with a cold and may improve sleep for both children and their parents.

However, as Dr. Hertzog says: “The evidence isn’t perfect, but it’s reasonable enough that, for someone over the age of one, a spoonful of honey, or honey in a warm drink, can be a simple and inexpensive option for soothing a cough.” (Note: Babies under the age of one should never be given honey because of the risk of infant botulism.)

The cold truth

Spending more money on expensive meds doesn’t mean a shorter cold. Dr. Hertzog says “not to confuse having more products in your medicine cabinet with taking better care of yourself.”

Hone in on the symptoms you’re trying to treat, consult with a pharmacist–and your health care provider, if symptoms linger or you suspect it’s something else.

And give yourself at least seven days to get better.

Read more from this issue of The Get:

1. When social media complaints serve as scammer bait
2. Stop the impulse buy: How to spend less at Costco Canada
3. The actual life of a showgirl, with Allie Goodbun
4. How can I raise my credit limit in Canada?