Medicare may not be the cheapest way to buy your medications!
Medicare Part D drug plans are designed to help make the price of our medications more affordable. While they generally do a very good job, many seniors know that Medicare drug plans don’t cover all of the costs for our Medications. This leaves our bank account vulnerable to high costs and copay’s of the drugs that are very expensive as well as those that simply aren’t covered by Medicare.
GoodRX: A free tool that may help you save on your prescription medications
We routinely go online to compare prices for hotels, rental cars, and airline flights… so why not do the same for our RX drugs? This is where a company called GoodRX really shines. GoodRX is a free service that provides discounts on thousands of medications and can help you compare drug prices at different pharmacies. While GoodRX is not a replacement for your Medicare prescription drug plan, it may help you save money on some of your medications, especially those that aren’t covered by Medicare. Occasionally we have even found that coupons from GoodRX that offer lower prices than the copay’s in a Part D Drug plan!
Do you take medications not covered by Medicare?
Simply go online at GoodRX.com and enter the name of the medication. Good RX will tell you which pharmacy near you offers the best price and if there are any coupons available that can save you money. Sometimes you find you are already getting the best price and other times you may find their coupons can save you a lot of money!
A smart way to help avoid the “donut hole” in Medicare drug plans
The coverage gap, often referred to as the “donut hole”, is based on the total retail cost of Medications that are covered by your Part D drug plan. What many people do not know is that if you choose to pay cash for a certain medication and not use your Part D insurance card then that medication does not count toward the donut hole.
This means if you are trying to avoid the donut hole and you find that you are able to get the same price for a medication whether you use your insurance card or a coupon from GoodRX, then you would be better off using the GoodRX coupon. By using the coupon you will be helping to keep your future costs down by ensuring that the price of the medication will not be counted toward the donut hole.
Our Conclusion on GoodRX
GoodRX is not a replacement for your Part D drug plan but it can be a useful tool to help save money on your medication costs. Although there is no guarantee you will save money there is simply no harm in trying since it is a free service! Many of our clients have found their coupons and discounts to be extremely helpful.
We keep free GoodRX discount cards on hand so if you would like to get one simple give us a call at 1-888-321-6361 and we will be happy to mail one to you!