Prescription Discount Cards

It’s no secret that the cost of health care and prescription drugs has skyrocketed for everyone, including senior citizens. Statistics show that those over the age of 65 spend over 3 percent of their income on prescription drugs alone. Although many are enrolled in Medicare Part D, there are still out-of-pocket costs. It’s estimated that over 65 percent of senior prescription drug costs are out-of-pocket.

That’s why many seniors look for any discounts they can to help reduce the cost of their medications. Prescription discount cards are one option that many seniors take advantage of to save money.

How Do Prescription Discount Cards Work?

When you get a prescription discount card, there are savings programs that have already been set with an entire network of pharmacies. Companies that provide these cards have worked to reduce costs on the premise of buying in bulk. They negotiate discounts on the average wholesale price for those who have the prescription discount card.

When you go to pick up your prescription at the pharmacy and show your card, you pay whatever the negotiated discount price is for that drug. People can typically save anywhere from 54 to 80 percent on the cost of their medications. Many pharmacies agree to the discounted rates because cheaper prices typically bring in more customers.

A prescription discount card is good for those with or without drug coverage. Those without will obviously see the most benefits. But, even for those with drug coverage, a discount card can help them save, especially on medication not covered by insurance. It can also help if there is a spending cap that they’ve already reached or if they fall into the Medicare D coverage gap. You cannot use your insurance and your prescription discount card together. It’s typically one or the other.

Many times the price offered with the prescription discount card is lower than you would pay with your health insurance. Shop around and ask questions to get the best prices.

Are Prescription Discount Cards Free?

Many prescription discount cards are free. There are those that do charge a fee, so you’ll want to avoid those at all costs.

Prescription discount cards can usually be downloaded and are ready to use. You can also send a request via regular mail as well. There are many different companies that offer prescription drug cards. These include Good Rx, US Pharmacy Card, Discount Drug Network, and Script Relief. These are just several of the many companies to choose from. Do your homework to find the one that best suits your needs.

Some organizations also offer prescription discount cards to their members. Look into the groups you belong to, to see if this is an option.

Do I Need to Use My Card at Particular Pharmacies?

Not usually. All pharmacies should accept your card unless it’s specifically for a certain pharmacy. Those usually cannot be used at other pharmacies, only at the one that issued the card.

Things to Know Before Getting a Prescription Discount Card

  • You should avoid cards that charge a fee at all costs. The idea is to save money, not to spend money in order to save money. There are some companies that scam consumers into paying the fee for the card and not giving any discounts in return. If you suspect this, contact the Better Business Bureau.
  • Check to see if the pharmacy you usually use accepts the card you plan on getting.
  • Don’t give personal information to get the card. This is often sold to marketers who will contact you about goods and services you don’t want.

Prescription drug cards are known to help seniors save hundreds, even thousands, of dollars. Even if you don’t have high prescription costs, having a discount card can always come in handy because you never know if you’ll need it in the future.

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