What are some ways to save on prescription drug costs?

Question

Deborah Bates · Accepted Answer

If your plan doesn't cover your meds well, you can use a discount card like GoodRx or Singlecare. You could also search online for online pharmacies that can save you money like Cost Plus. You may also qualify for "extra help" from Medicare, or get help from the manufacturer or through a foundation.

Answered by Deborah Bates on March 6, 2025

Agent Licensed in AZ, FL, MN, NM, TX & UT

Answered by Deborah Bates Medicare Insurance Agent

Melonie Wood · Answer

Most carriers have a $0 cost for a tier 1 & 2 drug, many carriers will mail a 90 day supply at 0 costs for tier 1 & 2. I also advise members to get a GoodRx Card as well, and if someone is on an expensive drug, tier 3 or 4, most pharmaceutical companies have a patient assist program to help with expensive medications

Answered by Melonie Wood on April 2, 2025

Agent Licensed in FL & AL

Answered by Melonie Wood Medicare Insurance Agent

Dutch VanHoesen · Answer

1. Extra help: if you are low income, you may qualify for the Medicare extra help program. Contact Social Security.
2. Medicare prescription payment program: this is a new Medicare option to spread your drug payments over the course of a year.
3. Generic medication alternatives to your brand name drugs.
4. Patient Assistance programs: most drug manufacturers offer some sort of assistance to help pay for your drugs.
5. Mail Order: this may save you money and may not it all depends on your medications and your prescription drug plan carrier.

Michelle Sparks · Answer

There are several things to consider when saving on prescription drug costs. 1) Inform your provider who your Medicare Prescription Drug carrier is so that they can prescribe you drugs that are covered under that carrier's formulary; 2) Work with your broker every October to ensure that your prescriptions are still covered under your current Medicare carrier, and if they are not, then you may need to change drug plans; 3) Ask to make sure that your pharmacy is a preferred pharmacy with your drug plan, if not, your costs can be much higher; 4) Consider generics if they are effective and safe; and finally; 5) Ask your pharmacy if goodRX or other savings programs offer a better rate for your prescriptions. You cannot use both Medicare and these savings programs, but you can use these programs if they savings yields you a lower cost that Medicare.

Answered by Michelle Sparks on April 14, 2025

Agent Licensed in KS & MO

Answered by Michelle Sparks Medicare Insurance Agent

Gregg Matheny · Answer

There’s a few ways to save on RX costs.
1. Most brand name medications will be more expensive that their generics. If you are on any brand-name medications, you could ask your provider if there’s an alternate generic that would be a suitable fit.

2. If you do have to take brand new medication’s Most RX companies will have some type of manufacturers discount available. I would Ask your providers office for information on how to apply.

3.When using your Medicare advantage prescription drug plan the catastrophic coverage or cap is set at $2000 for the 2025 year. You could use alternate sources like good RX To potentially get a lower cost on some medication’s. However, whatever medications you get through that alternate source do not go towards that $2000.

It can be a little tricky and may take some extra work on your end but staying vigilant and always comparing prices may come in handy

Sergio Valenzuela · Answer

There is a program called "Extra Help" or LIS (Limited Income Subsidy) that is administered by Social Security Office to help to reduce the cost of your prescriptions such a deductible, premiums or/and copays for your current prescription plan. There is no cost to apply.

Answered by Sergio Valenzuela on March 18, 2025

Broker Licensed in AZ, CA, FL & MI, OH, SC & TX

Answered by Sergio Valenzuela Medicare Insurance Agent

Mary Hiatt · Answer

Your Pharmacist and Physician can provide valuable insights on cost-saving tips related to your specific medications. Ask about potential generic alternatives, switching to 90-day supplies, or utilizing pharmaceutical company discount programs. Hospital-based social workers can help you find both local and federal assistance programs that can help with medication costs, along with manufacturer savings programs for chronic conditions such as cancer.

Answered by Mary Hiatt on February 11, 2025

Agent Licensed in NE, AZ, IA, MO & TX

Answered by Mary Hiatt Medicare Insurance Agent

Casey Peterson · Answer

This may seem obvious but first, make sure that if you are taking a name-brand drug you ask your provider if there is a Generic alternative. If so, make sure that Generic drug is covered on your plan. Second, make sure that you are using an in-network and preferred pharmacy. Many plans give you better prices when you use certain pharmacies. Third, many times a plan will give you a better price if you use their preferred mail-order pharmacy. Fourth, reach out to the drug manufacturer and see if they have any assistance programs for the drug you are taking. Fifth, contact Social Security and see if you qualify for the Federal program that helps with the cost of drugs. It is known as the Limited or Low-Income Subsidy program. Lastly, you can reach out to the state you live in and see if they have any assistance programs. A good insurance broker can guide you with any or all of these steps.

Answered by Casey Peterson on April 10, 2025

Broker Licensed in ID, AZ, CO & 6 other states

Answered by Casey Peterson Medicare Insurance Agent

Kristine Gurley · Answer

You can save money on prescriptions by using the mail order option instead of the local pharmacy option. Most drug plans have preferred local pharmacies and that can provide savings. Also, generic mediations if they are approved by your physicians can reduce prescription costs.

Answered by Kristine Gurley on April 29, 2025

Broker Licensed in MS, AL & LA

Answered by Kristine Gurley Medicare Insurance Agent

What are some ways to save on prescription drug costs?

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