It is estimated that the average senior in America spends around $600 per year on medications. This takes into account the fact that they likely have some form of insurance, such as Medicaid or Medicare. Some may even have gap insurance that helps to pick up the costs of things not covered by those federal programs. Still, most seniors will need to come out of their pocket to pay for some medications each year.
The cost of medications, even at $600 for the year for all of them, can be a challenge for some people. There are many people who do not have that extra money in their income or budget to be able to pay for their prescriptions. There are some seniors who may need to make a decision about whether they will purchase their prescriptions or use the money to pay for other necessities.
Many of the prescriptions that seniors are told to take are needed to help keep them functioning better and feeling well. Therefore, they can’t choose to just not purchase them. They need help paying for the costs if they are above and beyond what their insurance will cover for them. The good news is that there is medications assistance for seniors and the programs will help to make it a bit more affordable and some may pay for the whole bill.
Getting Assistance Paying for Medications
Many people get a little nervous when they have to pick up a prescription from the pharmacy. They worry about the cost they will incur, because medications can be expensive. When this happens it is a good idea to know about some options that people have to help pay for their prescription medications.
First, it is a good idea to ask the person at the pharmacy if there are any ways to lower the cost of the medication. They will often know of coupons, rebates, and other tools that can be used to help you save money on the total. Once you have done that, then there are other options you will need to turn to below.
Medicaid – This program is provided by the federal government. Those who have a low income may qualify for the program, which will help cover the cost of healthcare, including medications. The program is open to citizens or legal non-citizens who earn low wages. There is no limit to how long you can get help through the program as long as you continue to meet the requirements. To get more information and apply, click here.
Medicare – This program is similar to the one above, but there are a few things that differ. The program is provided by the federal government, and it will help pay for medical expenses, including medications for seniors. This program does not have a low-income requirement that people have to meet in order to get help through it. To get medication assistance through this program, you have to be at least 65 years old and be a citizen or legal non-citizen. If you meet those requirements, then there is a good chance you will qualify for some financial assistance through the program that will be used to pay for healthcare costs, including prescription drugs. To get more information and apply for the Medicare program, click here.
GoodRx – This is a discount card program that will often reduce the amount you have to pay for medications. All you have to do is sign up and show the card when you go pick up the prescriptions at the pharmacy. The program can help provide a sizeable discount on the cost of the medications. It doesn’t cost anything to register for or use the card. Take it with you to the pharmacy and show it for the discount. If you happen to forget it, ask the pharmacist if they have one you can use. Sometimes, they have an extra card there, and they will use it to help you get the discount. To get more information about the GoodRx card, click here.
AARP – This organization that is for seniors has a program that helps provide discounts on prescription medications. It is accepted at over 66,000 pharmacies around the country and it is open to anyone who would like to use it. The discount card is free to obtain and use and is easy to sign up for. Simply register for the card, carry it with you, and present it when obtaining your prescriptions from the pharmacy. To get more information and register for the AARP discount prescription program, click here.
SingleCare – This is another discount card program that will help seniors save money on the cost of their medications. It is available over 35,000 pharmacies around the country. It is free to sign up for the discount card and there are no monthly fees to use it. You can search their database for prescriptions, choose the free coupon that you would like to use, and then show it to the pharmacist. To get more information, click here.
Other Options
Seniors in need of additional options to save money or help pay for their medications may want to turn to churches to see if they can help cover the costs. Also, speak with the doctor about the difficulty paying for the medications. Many will help the patient by providing free samples of the medication or by using a generic version so that it is a lot more inexpensive. Doctors must know if the drug they are prescribing someone is not affordable so they have a chance to address the situation and try to make it easier for the person to manage.
Seniors need to have their medications, but in America they can be quite costly. It is crucial that people know the different ways to help save money when it comes time to purchase medications. Being able to have ways to save money will ensure that seniors get the medications they need and they will not have to use the funds that would otherwise be used to purchase things like food or pay for the heating bill.
