There are ads for prescription savings cards that you may have seen or heard about. But what exactly is a prescription savings card and how can you use it? There is a lot of confusion around what discounts you can get when you buy medications from different pharmacies. We’ll be explaining what a prescription discount coupon is and how you can use it to save as much as possible on your medication.
How do free discount drug cards work?
A prescription discount card is like a coupon. This card is a way to get your medication at a lower price.
Prescription discount cards are a free tool offered by a number of different companies that help you save on the cost of medications–especially when you’re paying in cash. These companies act as a larger network and negotiate deals with drug manufacturers and pharmacies to lower the price of prescriptions. They then pass these savings onto you.
How to use a prescription coupon card to maximize savings
Take a look at discounts offered by multiple pharmacies
Complexity in the pharmacy industry means that drug prices can vary greatly from one pharmacy. Make sure to check at least a few pharmacies around the area. Price differences can easily reach $10 or more.
To double your savings, pay cash and then get insurance
Many people believe that you can only pay cash for your medication or use your insurance. You can combine both to maximize your savings.
Ask your insurance company if they will allow you to turn in your receipt. This will give you credit for any money you have spent on medications while you were enrolled in a discount program. Your out-of-pocket maximum can be applied to the amount you spent on medication if your insurance permits you to submit your receipt.
Important Note: Make sure to follow the current pharmacy benefits if you plan on turning your receipt in to your insurance company. If you’re only allowed to fill 30 days of your prescription at the pharmacy, you shouldn’t expect to receive credit for more than that.
Compare the prices of various discount cards
There is no one card that has the lowest price for every medication. Nearly every discount card for prescriptions offers a search function that allows you to find prices at nearby pharmacies for your medication. You should also check out different discount card providers such as Carecard, GoodRx and WellRx.
Remember your pharmacist to use your discount card
Give your pharmacist your coupon card when filling your prescription. Ask them to fill it with the intended card. Sometimes, pharmacists will keep a discount card in their inventory and allow you to use it over and over. It’s important to remind pharmacists that the savings are different for different drugs.
Ask for an increase in quantity
You can shop for higher prescription quantities to get a lower per-pill price if you don’t plan on sending in paper claims to your insurance company.
Find the Best One-Stop Shop
Carecard offers a tool that allows you to combine all your prescriptions into one search. This will allow you to find the closest pharmacy that has the best price for all of your medications. Although it may not show you the lowest price for every medication, it will show you the best way to save money at one pharmacy.
