Prescription drugs can be very costly. Luckily, those who qualify for Medicare have the option to enroll in a Medicare Part D drug plan or a Medicare Advantage plan to help alleviate drug costs. These plans can sometimes cover up to seventy five percent of prescription drug costs. But even with three quarters of the cost covered, prescription medication can still be a serious financial concern. If Medicare already covers some of your prescription drug costs, what can you do to reduce the remaining costs after coverage?
There are a few ways to save on prescription drugs beoynd your Medicare plan’s coverage…
- First and foremost, see if you qualify for Extra Help with drug costs. If you are enrolled in a Medicare drug plan, live in the United States, and have limited resources and income, you may be eligible. Social Security deals with Extra Help claims. They have information regarding eligibility available on their website and you can even apply online.
- Second, make sure you are making use of generic drugs. They are significantly cheaper and more accessible than many brand names. Generic alternatives to brand name drugs are available throughout the country and will always save you money over regularly priced brand names. Contact your doctor and pharmacist to see what generics will fit your needs.
- Another way to save some money on medication is to talk to your doctor or pharmacist about free samples. They receive a certain allotment of samples that they can give to patients free of charge. Don’t be afraid to take advantage of this if you find your prescription in sample form. As long as you are not abusing their generosity, most doctors and pharmacists will be happy to help.
- Finally, many people don’t know that there are coupons available for many name brand drugs. Sometimes finding them can be as simple as a quick search on a search engine. The key to obtaining these coupons is being willing to ask. Ask your doctor, your pharmacists, even try asking the manufacturer directly, either by phone or email. Like the coupons you use at the grocery store, these coupons often have expiration dates. Make sure to be aware of these dates so you don’t miss out on the potential savings.
Hopefully these tips can help you save some money on your prescription drugs. If you have any more money saving ideas that have worked for you or someone you know, feel free to share them in the comments. Do you think you could find another way to save money with a Part D drug plan? Let us know!