Answer
How can I lower what I pay for prescriptions?
The short answer
Start by asking your pharmacist or prescriber about a lower-cost option, such as a generic. Then match the help to your coverage. Drug-maker coupons usually cannot be used with Medicare or Medicaid, but Extra Help, patient assistance programs, and independent charities may help.
Key takeaways
- Ask about a generic or another lower-cost drug before you pay.
- Drug-maker coupons are mainly for people with private insurance or no insurance.
- With Medicare, Extra Help can lower costs a lot, and yearly drug costs have a limit.
Words in this lesson
- Extra Help
- A Medicare program that helps people with limited income and savings pay for Medicare drug coverage. It is also called the Low-Income Subsidy (LIS).
- Formulary (drug list)
- The list of medicines your plan covers, often grouped into tiers with different costs.
- Deductible
- The amount you pay for covered care each plan year before your plan starts to share most costs.
- Medicare
- Federal health insurance for people 65 and older and for some younger people with disabilities or certain conditions.
Related
This is general education. For decisions about your own plan, taxes, or legal rights, check your plan documents or a qualified professional.