Prescription drugs are an important part of many people’s Medicare plans. But as prices fluctuate every year, many are left paying more for their prescriptions than the year before. This can make many people dread the trip to the pharmacy counter, even to the point of not taking their prescribed doses in hopes of making their prescription last longer. Finding a way to lower prescription drug prices is crucial to ensuring the health and safety of many Medicare beneficiaries. 

At Senior Benefit Services, we want our clients to save as much money as possible on their prescription drugs. We’ve made a list of 5 tips and tricks to lower your prescription drug costs.

1. Clever RX

Clever RX is a prescription savings card that works with drug manufacturers and pharmacies to offer savings on both generic and name-brand drugs. This savings program has no hidden fees, and is free to sign up and use. SBS agents are proud to offer this service to our clients. In fact, in the last month alone, Clever RX has helped us save our clients over $1,600 on their prescription drugs!

2. Look into a Mail Order Pharmacy³

You can often save money by getting your prescriptions through a mail order pharmacy. These pharmacies ship drugs to your door in 90 day quantities, instead of the usual 30 day amounts. Buying your prescriptions in advance, and buying in bulk can often save you money in the long run. When it comes to drug costs, planning ahead can make a big difference!

3. Ask the Experts at your local Pharmacy³

Mail order pharmacies aren’t for everyone, and if you prefer heading into your local pharmacy we recommend asking the pharmacist if there are any ways you can save money on your prescriptions. They can often suggest cost-reducing options like generic substitutions for name brand drugs, or switching from a liquid dose to a capsule which are often cheaper. Always be sure to consult both your Doctor and Pharmacist before making any changes with your prescriptions.

4. Sign up for the Medicare “Extra Help” program¹

You may qualify for the Medicare Extra Help program if you meet certain requirements. This program helps pay for the premium, deductibles, co-pays, and co-insurance associated with your prescriptions. Ask your SBS agent to learn more about this program!

5. Ask an SBS agent to review your plan

The simplest solution to staying out of the Coverage Gap is to find the right plan for you and your budget. SBS agents are dedicated to finding our clients all the possible savings available to them, and we pride ourselves on helping our clients truly understand their coverage.

Medicare beneficiaries who follow these 5 steps have the potential of saving thousands of dollars on their prescriptions every year. For more info or to speak with a Senior Benefit Services agent, call us at 1-(800)-627-2768.

Sources

1 https://www.medicare.gov/your-medicare-costs/get-help-paying-costs/lower-prescription-costs

2 https://diatribe.org/when-and-why-consider-mail-order-prescriptions

3 https://www.fidelity.com/viewpoints/personal-finance/how-to-save-money-on-prescription-drugs