The prescription drug prices today are undeniably expensive whether or not you have health insurance. It’s no wonder why everyone is always going after resources to save even a little amount of money on their medications. Whether it’s a letter in the mail or an ad on social media that offers prescription discounts, people wouldn’t want to miss it.
Prescription discount cards, which are also obtained online from various websites like Buzz RX, are one of the tools that almost everyone uses in the hope of saving cash on their high-priced medications. But these cards can be confusing to use when you don’t understand how they work. You may be even more likely to get ripped off than get a discount in the end.
To maximize its benefits and protect yourself from fraudulent discount offers, here are the things you need to consider when using discount cards for your prescription drugs.
Understand Your Prescription Costs
Before you get overwhelmed with these prescription discount cards, it would be best that you thoroughly understand your prescription costs. Some people experience sticker shock at the pharmacy counter even after using their discount cards. It’s worth pointing out that a discount card can only do so much in reducing the price of your medications.
But knowing your prescription costs can help you set a realistic expectation on any discount card. It can also help you easily find out other ways to get the best price on your prescription. Bear in mind that using a discount card is not a guarantee that you’ll save money on your prescriptions.
Examine The Coverage and Restrictions
Discount cards are not all-inclusive. It means that you cannot use the card anywhere and anyhow you want. Every discount card is only acceptable to a certain network of pharmacies. You have to know where you can use the card. If the card is not honored at your preferred pharmacy, ask yourself if you’re willing to switch pharmacies to use the discount.
You also have to consider whether or not you can use it in a mail-order pharmacy, especially if there’s no other way to buy your prescriptions. It wouldn’t hurt to ask your trusted pharmacy which discount cards they accept. Moreover, you need to examine if the discount card covers the medications you’re taking.
Remember that not every card will allow you to get a discount for every prescription drug. It’s also worthy to note that some cards may not cover the generic equivalent of your prescriptions. If you want to maximize the benefits of using a discount card, you must carefully weigh its coverage and restrictions.
Know The Savings That You’ll Get
When you already know the prescriptions covered and where you can use the discount, you might also want to check the cost of the drug using the card. Note that every card offers different discounts. Some cards may help you save as much as 80% off of the cash price of your prescription, while others may not have savings at all.
Make sure that the one you’re using is the most suitable for your specific prescription. You might want to try various cards to find out which one offers you the best discount. Asking your pharmacist which one has the best prices might also help. Keep in mind that the actual amount of discount also varies on the pharmacy and the prescriptions you’ll purchase.
Be Wary of Membership Fees
Most discount cards can be obtained for free. But others will require you to pay an annual or monthly fee for the use of the card. If so, make sure that the savings you’ll get are significantly higher than the fees. Else, you’ll defeat the purpose of using a discount card. It’s also essential to note that there are many good cards that you can acquire for free. So if it won’t offer a better discount than a free one, paying for a discount card wouldn’t be sensible.
Think About Your Insurance Plan
Whether you have insurance or not, you can use a discount card for your prescriptions. However, you cannot use the card with your insurance. It’s not applicable on your copay unless your insurance plan allows it. Thus, it’s always a good idea to check with your insurance provider first.
Prescription discount cards often work better if you don’t have insurance. Your plan’s deductible or copay is more likely higher than the cash price of your prescriptions. But if you reached your plan’s maximum limits, a discount card would be an excellent option.
Most discount cards aim to help you save money on your prescriptions by paying with cash instead of your insurance plan. But it doesn’t always work that way. You must go the extra mile in reviewing each possible card before using it, and don’t hesitate to utilize other resources to reduce your prescriptions.