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Prescription Discount Cards

Senior citizens are spending more and more on their prescription drugs and health care needs – the statistics are alarming and now over 3% of a person’s income over the age of 65 is spent on costly prescription drugs, which is unfortunate. Medicare Part D enrollment is common amongst seniors but there are still lots of costs that are out-of-pocket, in fact, it’s estimated that more than 65% of senior’s prescription drug costs are from the out-of-pocket variety. 

 

Reducing medication costs is an ongoing goal yet a daunting challenge for seniors to undertake, and discounts of any type are always much welcomed. One viable option that seniors are increasingly relying upon to save money are prescription discount cards, and we explain them and how they function below. 

How Exactly Do Prescription Discount Cards Work?

The great aspect of getting your own prescription discount card is that everything is already in place with an entire network of pharmacies, so savings programs can be taken advantage of immediately. Companies that offer discount cards to seniors have worked closely with drug companies and pharmacies to reduce everyone’s costs in the program, by leveraging the power of economies of scale by purchasing in bulk. Prices are negotiated down to earn discounts thanks to a mass buying model, and every senior that carries a prescription discount card benefits as a result of these efforts. 

 

Regarding how prescription discount cards work – whenever a prescription is needed simply go to the pharmacy that you usually go to like normal, provide them with your card, and pay a discounted rate on your purchase – it’s really that simple to do. In terms of how much you can save on a typical medication cost, it ranges of course, but 54 to 80 percent is what you can typically expect to save. Pharmacies are happy about this discounted rate arrangement as well since it nets them more customers overall, and brings in more revenue and profit to their businesses. 

I Already Have Drug Coverage, Will a Prescription Drug Card Still Help Me?

Even if you already have drug coverage in place, by getting and using a discount card you can save even more money overall. For those who don’t have drug coverage – they will benefit the most financially in terms of savings, but not all medication is covered by insurance so a discount card helps to fill in the gaps where out-of-pocket costs are required. Spending caps are also a reality on many drug coverage plans or if they fall into the Medicare D coverage gap, so when you are capped out during a certain time period, then a prescription drug card certainly comes in handy to reduce medication costs – when otherwise, everything is your financial responsibility to take care of. 


It should be noted that you can’t combine your drug coverage insurance with your prescription discount card, for the most part, one or the other needs to be used independently – so call upon whichever will save you the most money, and don’t be shy to ask the pharmacist which of the two options is better for you. Often times you are better off using your prescription discount card over tapping into your drug coverage insurance, but you are advised to shop around (if possible) to ensure the prices you pay are the lowest available to you.

How Much Do Prescription Discount Cards Cost To Get?

 

Many of the prescription discount cards available today come at no expense to you, in order words, they are free to get. There are some companies that charge a fee to their members, but it’s most likely in your best interest to steer clear of them and seek out a free alternative instead.

How Do I Get My Own Prescription Discount Card? 

There are a couple of main ways to get your own prescription discount card – if you use the internet you can simply download a card via a provider’s website and start using it immediately, or you can physically mail in a request to get one back a few days later. 

Which Companies Offer Prescription Discount Cards? 

 

A good number of companies are now offering prescription discount cards to seniors including Good Rx, US Pharmacy Card, Discount Drug Network, Script Relief, and several others distribute them as well so there are numerous options at your disposal. If you belong to some organizational groups and enjoy doing business with them, then inquire to see if they offer these types of cards to their members. Closely look at your health care needs, look at which cards are ideal for you to maximize your savings on prescription drugs, and get the one that fits your life the best. 

Is My Card Limited For Use at Specific Pharmacies?

 

Prescription discount cards are usually accepted at all pharmacies unless your card is tied down to a certain pharmacy who issued your card in the first place. It’s recommended to get a card that has the flexibility to be used at all pharmacies so you aren’t tied down and can shop around if desired to maximize savings, and no matter where you are at any given time you can take advantage of it. 

What Should I Know and Be Aware Of Before Getting a Prescription Discount Card?

 

  • You should not need to pay for a prescription discount card, your primary goal is to save as much money as you possibly can and any fee to get a card works against that goal. There are unfortunately some scam artists out there who target seniors to pay them for a card that has no value. If you are approached by a phony who is trying to sell you a prescription discount card, then help others out by contacting the Better Business Bureau so they can try to catch the wrongdoer. 

 
  • Speak to the pharmacy or pharmacies that you regularly deal with to see which prescription discount cards they accept for use, and then target one of those options. 

 
  • Keep your personal information to yourself and don’t give it out when getting a card. Your personal information will almost certainly be sold to 3rd parties who will use it to then aggressively contact and hassle you with sales offers to buy their products and services which you most certainly don’t need. 

 

Prescription discount cards are very beneficial to seniors to save them a good amount of money both short and especially longer-term. If you are thinking that you don’t need a card as your prescription costs are either zero or very low right now – it’s still a good idea to be proactive in getting one as you never know when your prescription needs may change, and you want to be ready to keep your costs as low as possible. 

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