12 Money Savings Tips for Medication

At this time of year, some people may notice the cost of their medications going up when they get refills.

This may be because they have recently entered the dreaded “donut-hole” phase of their Part D plan.

Here are 12 strategies to save money on prescriptions:

  1. Check to see if your plan has a “preferred” pharmacy, rather than just “participating”
  2. Comparison shop between pharmacies
  3. Get a 90-day supply of on-going, inexpensive generic meds through mail order (in some cases there may be no copay!)
  4. Know that most brand name drugs may be more expensive through mail order.
  5. Use generic instead of brand name when possible
  6. Bring your plan’s formulary list to your next doctor visit and ask if a less expensive med would work
  7. Request an exception through your doctor, if a medication you must take isn’t on the formulary.
  8. Research to see if you qualify for assistance through a Pharmaceutical Program when on an expensive medication
  9. Apply for “Extra Help” if you qualify for low income subsidy
  10. See if your drug is covered under Part B and is covered under your medical plan, rather than under your Part D prescription plan
  11. Make a note to contact us in the fall to shop for the best 2019 plan for you!
  12. Last Resort? Diet and Exercise — Who knows maybe you can eliminate some of those meds?!?

 

 

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