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Saturday, April 25, 2015  
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Discount Prescription Programs

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With the soaring prices of prescription drugs, consumers are desperately searching for some relief from overwhelming drug prices. Prescription discount programs provide one solution to costly prescriptions. One important thing to note: Discount programs are NOT insurance. Instead, discount programs apply a reduction in the cost of select prescription drugs in exchange for your commitment to pay an annual or monthly fee.

A Brief Overview on Prescription Programs

Most discount prescription programs provide consumers with a card to present when purchasing prescriptions. Typically, a monthly or annual fee is charged. Cards are available from drug companies, chain drug stores, discount card companies, and non-profit organizations.

While discount programs vary so widely it is hard to generalize, there is usually a tiered fee which applies discounts differently depending on if you are purchasing brand name or generic drugs. Even on the same drug company card, the cost of one medicine may be discounted 30%, while a generic version may be cut by 50%. If your physician prescribes pills from several manufacturers, you may find that you need a handful of cards to get discounts on all your prescriptions.

Finding a plan that works for you

Prescription discount programs are so numerous and so different that you must do cautious research when figuring out what discounts are offered by program, what drugs are covered under the program and what fees the program charges; figuring out the program’s details may be a challenge. If you do not have an insurance plan, or want to take prescription pills not covered by your current policy, prescription discount programs may prove a viable way to make high priced prescription drugs more affordable.

Are you over 65?
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Information on Other Types of Plans

PPO Plans
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