To dose or not to dose.
I'm a lifetime doser of Iodine until recently when I found out that Red Sea started making kits that accurately test for all forms of Iodine in an aquarium, and started to keep results for my own aquarium. Long story short, I no longer dose Iodine and my iodine levels are remaining fairly constant at a level higher than NSW. There is no evidence other than anecdotal evidence from fellow reefers that Iodine dosing is necessary. Please believe me when I say that honestly I have no opinion on the matter at the moment, but I just wanted to bring out the fact that Iodine dosing is a topic of debate among some very serious aquarists.
Having said that I will say that "Lugol's" is a generic term used to describe a particular formation of Iodine solution. There are other offerings that claim to be more "bio-available", but again no research has been done to say whether or not creatures in a saltwater aquarium prefer one form of iodine over another so in the end you are working on here say at best. If you are trying to save money then my suggestion is simply stop dosing altogether; conversely if you are trying to achieve the maximum efficacy of dosing working on the belief that iodine dosing is key to a successful aquarium than I would recommend Tech-I which is used by more of the best reefers that I have met than any other form.
None of that is absolute, but I hope something there is useful.
Joe