How to Save Money With Prescription Discount Programs
If you ever felt like you’re paying too much for prescription drugs, you are not alone. In fact, out of the more than 60 percent of Americans who take prescription drugs, one in four finds them difficult to afford.
You may have heard at least one TV commercial for prescription discount programs or heard about them in some other way. Whether this is your first time encountering the term or not, you may be wondering:
Prescription discount programs are a way customers can lower the cost of prescription medications. They are offered by a variety of companies such as GoodRx, ScriptSave WellRx, Singlecare and others.
You may see these programs simply referred to as “Rx cards,” “Rx savings cards,” or “Prescription savings cards,” as well.
These discount programs have nothing to do with health insurance, so you can utilize them whether you have coverage or not. However, discount programs will not allow you to use them with your private insurance or Medicare insurance. If you have Medicare Part D or private insurance, you may have to opt for one or the other. Unfortunately, you can’t combine them to get a larger discount.
Prescription discount programs are free and easy to use – you can use them through apps on your smartphone or through physical cards – and they can potentially save you a lot of money, in the range of hundreds of dollars each year.
We know it sounds a bit too good to be true, but there really are very few drawbacks to using prescription discount programs. The only thing you’ll have to consider is whether to use one of these programs or your insurance card on a case-by-case basis, and we’ll discuss this more below.
First, let’s take a look at how pharmacies work and how prescription discount programs take advantage of this to connect users with lower prices.