About Rx Savings

There are a lot of ways these days for people with Medicare - especially those with limited incomes - to save money on their prescription drugs. There are a number of programs available to help seniors and people with disabilities reduce their prescription drug costs.

These programs include:

Medicare Prescription Drug Coverage (Part D)

Medicare now offers Prescription Drug Coverage (also called Part D). This benefit is open to anyone with Medicare Part A and/or Part B.

You choose the Part D plan that makes sense for you given your situation and needs. Coverage is provided by private insurance health plans – some that offer only prescriptions and others that offer comprehensive health and prescription coverage. Most people pay modest premiums for this coverage, as well as and co-pays for prescription drugs that are on their plan’s formulary.  Depending on the plan you join, you may also pay an annual deductible.

Enrollment in Medicare Part D is voluntary.  But unless you already have prescription coverage as good as what Medicare offers, you will pay higher premiums if you do not join a Medicare drug plan when you are first eligible.

Medicare Part D Extra Help

Medicare offers help with the Part D costs to people with limited income and resources. This assistance is called Extra Help. If you qualify for Medicare’s Extra Help, Medicare will cover 85 to 100 percent of your prescription costs.

If you’re single, you may be eligible for the Extra Help if:  

• your annual income is $15,600 or less (a monthly income of $1,300/month or less), AND
• your assets or resources (not including your home, car or personal possessions) are worth no more than $11,990.

If you’re married, you may be eligible for the Extra Help if: 

• your joint income is $21,000 or less (a monthly income of $1,750 or less), AND
• your resources (not including your home, car or personal possessions) are worth no more than $23,970. 

To learn if you might qualify and to apply for the Extra Help online, click here. You can also get a paper application by visiting your local Social Security office or by calling 1-800-772-1213.

Access to Benefits Coalitions across the country help people apply for the Extra Help. To find the ABC in your area, click here.

State Prescription Assistance Programs (SPAPs):

Some states have their own programs to help reduce the cost of prescription drugs. Each state’s program is different.  However, many of these programs now work with Medicare Part D to provide you with even more savings on your prescription costs. 

Medicaid:

Each state also has a Medicaid program, which provides health care for people with very limited incomes and assets. If you qualify, you may be able to receive your health care at low or no cost. If you have both Medicare and Medicaid, Medicare now pays for most of your prescription drug costs. Each state runs its Medicaid program differently and may even have a different name for it. To learn more about Medicaid in your state, call your state Medicaid office or go to your state’s Medicaid website.

Patient Assistance Programs:

Some drug companies have programs that help patients with limited incomes receive the medicines they need at low or no cost. While some of these programs have changed since Part D went into effect, many of them still serve people with Medicare – even those enrolled in Medicare drug plans. You have to apply for these programs, and some of these plans require that you get your doctor’s signature on your application. If you qualify to get some medicines through one of these programs, you may need to pick up your medicines at your doctor’s office or a local health clinic.

In just a few minutes you can find out if you qualify for one or more of these programs. And you can apply for many of these programs online. Spend a little time here online – and you could save a lot of money on your medications.

CLICK HERE to begin.