The basics about prescription savings cards
A prescription savings card is not insurance. Instead, it provides immediate savings at the pharmacy at the time you purchase medications. There are no claim forms to fill out - just present the card at your pharmacy when you pick up your prescription and the savings will be automatically applied by your pharmacist. To receive benefits through your prescription savings card, you must use a pharmacy that participates in the savings program offered by the card. The card you choose should provide you with a listing of affiliated pharmacies.
What if I have insurance coverage?Prescription savings cards are not used in conjunction with your insurance coverage - when buying a prescription, you must use one or the other. However, in many cases, the savings offered by the card can mean you end up paying a lower price than if you had used your insurance. If you have insurance coverage, your pharmacist can help you determine how to get the best price. If a prescription medication you need is not covered by your insurance, or if you have insurance with a high deductible, a savings card can be a great alternative.
For individuals with Medicare coverage, a prescription savings card may be used if you are in the Medicare "donut hole" or if you do not have Plan D or another supplemental plan.
How can I choose the right prescription savings card for me?There are a few things to consider when selecting a prescription savings card:
Check for a fee. Some prescription savings cards might charge a membership fee to join their program, which could cost you more than any discounts you would receive. Always ask about fees prior to signing up for a card.
Are there any restrictions or eligibility requirements? In some cases, certain medications may not be covered, or other limitations may apply. It’s important to always be aware of eligibility requirements and restrictions when using a prescription savings card. In addition, some prescription savings cards may only allow you to use them on a restricted basis. You should be aware of such restrictions associated with your card.
According to The National Consumers League, discount cards can be a great way to save on prescription medicine. As with any program, it’s important to do research to determine the card that best meets your individual needs.
This year, FamilyWize celebrates its 10th anniversary helping individuals, families and communities save on medications. Our card, the FamilyWize Prescription Savings Card, is free to all consumers, insured or uninsured, and has no eligibility requirements. In addition, the card offers unlimited usage, so friends and family members can receive discounts, too. Anyone can request a card by printing a card through FamilyWize.org or by calling 1-800-222-2818. Try it today and start saving!
Live Healthy. Live Smart.