How to save money on your Part D medications.

Thanks to the advent of technology and medicine, it is common to see people live longer now more so than at any other point in time. A key contributor of this positive trend would be the medications that people take on a daily basis which play a vital part in the lives of many. Now as useful as medications may be, of what use would they be if they are inaccessible to those who can’t afford them. As much as it pains me to say it, this beautiful country which we all call home has some of the most expensive costs for medications in the entire world. With that in mind, I encourage those of you on Medicare to read on in order to learn more about the best ways to save money on your Part D medications.

 

Mail Order

Although not guaranteed, it is possible to pay less for certain types of medications including generics if you opt to receive them from the preferred pharmacy that your insurance plan contracts with. With many prescription drug plans and Medicare advantage plans with drug coverage, it’s possible to get tier 1 and possibly tier 2 medications with no copay whatsoever. On top of that, it is common practice for these pharmacies to send 3 months worth of medications saving you time and money.

 

Extra Help/Low Income Subsidy

If you’ve tried getting your meds through the mail but there still expensive, try applying for extra help instead. Extra help is a program managed by the Social Security Administration with the sole purpose of helping people save money on their medications. With extra help by your side, it’s possible to pay less for your drug deductibles, copays, coinsurances and possibly even your premiums as well. Aside from paying less for your medications, it’s also possible to avoid falling into the donut hole or the coverage gap with the right level of Extra Help.

 

Opting for generics over brand name medications

If you’re taking a bunch of medications that happen to be brand name drugs, consider talking to your doctor about whether the generic version of the medications might be good enough for you. Should your doctor give the greenlight to switch from brand name to generic, it could be all that it takes to start saving a modest amount of money.

 

State Pharmaceutical Assistance Programs

For those of you on Medicare who live in a state that has a State Pharmaceutical Assistance Program, it’s possible to pay less for certain types of medications. What the programs cover will vary based upon what state you live in, but it’s worth looking into in order to cut corners and save as much money as is possible.

 

Free Samples

Thanks to the hardworking pharmaceutical sales reps who distribute medications, it’s possible to get free samples from time to time from your doctors. If you’re ever in a bind, it wouldn’t hurt to check with your doctor to see if you can get some medications on the house.

 

Drug Manufacturer Coupons

If you happen to find yourself paying too much for your medications,  consider contacting your drug manufacturer before paying full price in order to see if you might qualify for a discount coupon. Discount coupons are a form of savings that are passed on from the drug manufacturer to the patient in order to allow those with financial difficulties the opportunity to afford their medications.

 

Changing Drug Plans

As a measure of last resort, you could change your drug plan if all else fails. In order to make sure that you get the plan that best suits your needs, feel free to contact your local Medicare sales agent. If you reside in the City of Laredo or if you live in Texas, feel free to call me and I’ll be more than happy to check for more cost efficient alternatives for you free of cost.

 

Conclusion

Just like there’s many ways to solve a math problem, so to is there many ways to save money. Ultimately, the choice is yours in regards to how to go about saving money on your Part D medications. So long as you stay healthy without breaking the piggy bank, what else is there to complain about. Thanks once again for taking the time out of your day to read this post and may you have yourself a lovely rest of the day.