Options To Save On Prescription CostsThere seems to be endless options offered to save on prescription costs. Highlighted below are Copay Cards, Cash Savings Programs and a link to the free Medicine Assistance Tool (MAT) to help you find the best option to keep cash in your wallet.
Generally Work With InsuranceWhat Is a Copay Card?
Copay cards are intended to reduce the total out-of-pocket expense for the patient. When you use a copay card, your health insurance pays some of the cost and then the drug manufacturer pays part or all of the cost you’re responsible for through your copay or coinsurance.
How Do I Get a Copay Card?
Copay cards are usually accessed through the medication or manufacturer websites and most often require the patient to have insurance. You can also ask your healthcare provider or pharmacist about copay cards for your medications. You will need to register online or call the program to enroll. Once you’re enrolled, they will usually provide a card to print out and bring with you to the pharmacy.
Guidelines for Copay Card Eligibility
For most copay cards, there are 2 main requirements:
You must have commercial or private insurance.
You cannot have government health insurance, such as Medicare or Medicaid
Cash Payment Programs
Do Not Require InsurancePaying Cash Could Be a Better OptionAn alternative to copay cards may be to pay cash. Cash Payment Programs, which lower cash prices on prescriptions may be offered by the manufacturer. Cash payment programs vary by manufacturer, change often and are offered to insured, underinsured and/or uninsured patients.
Does Not Apply to Deductible
Although it might be less expensive to pay cash, take note that cash payments don’t usually count toward your annual drug deductibles. Therefore, patients who choose to pay the lower cash price cash versus using insurance, may take longer to hit their annual deductible.
Guidelines for Cash Savings Options
Keep the following in mind when deciding on cash payments:
Do not require insurance
Do not apply to deductible
MEDICINE ASSISTANCE TOOL
One Click to Find Savings
The Medicine Assistance Tool( MAT) matches patients with resources and cost-sharing programs that may help lower out-of-pocket costs, whether or not you have insurance.
MAT is not its own patient assistance program, but an incredible comprehensive search engine for many of the prescription cost saving resources.
MAT is always a free resource, you will never pay anything to use it.
The resources on the page are not intended as medical advice. This page is provided as a tool to support those touched by diabetes, access to prescribed medications and healthcare options. Feel free to share and use the resources and please message The Diabetes Way
if you are aware of additional valuable resources we have failed to include.