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8 months ago · · Comments Off on 4 Smart Ways to Reduce High Medication Costs

4 Smart Ways to Reduce High Medication Costs

Aging brings multiple challenges. In addition, many age-related health problems also mean high medication costs.

Many prescription drugs either aren’t covered by Medicare or are still extremely expensive despite coverage. This is one big reason why a growing number of seniors are filing for bankruptcy. Even if you have savings, it is not possible to plan for steeply-priced prescription drugs. While pricing is going up every year, here are 4 smart ways to save money on your medications.

Ask about alternatives

Many prescription drugs have generic options available. Ask for them. Even if a generic option isn’t available, ask your doctor for a more affordable drug that treats the same thing.

Get the right Medicare plan

Find out about the different Medicare prescription plans. Ask providers which prescription drugs they cover and how much they cost. Simply covering a particular drug doesn’t mean that it will be affordable too.

Look for discounts

Pharmacy discount cards and coupon sites can help you save significantly on prescription drug costs. Pharmacies also have their own discount programs that you can use to reduce your medication costs.

Look into assistance programs

Some drug companies and government programs help seniors out with the cost of their medications. Find out which ones are applicable to you.

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