According to the 2019 Kaiser Family Foundation Health Tracking Poll, there is a healthcare crisis in the United States – and that centers around the affordability of prescription medication. The poll showed that nearly one-fourth of adults say that it is very difficult to avoid their prescription drugs, 29% say they don’t take their medication because it is too expensive, and 8% say their health condition has worsened because they could not afford to take the drugs.
Thankfully, discount card companies offer savings programs that help people save money whether or not they have health insurance.
So, do free prescription discount cards work, and if so, how do prescription discount cards work? You’ll find the answers you need below.
Do Free Prescription Discount Cards Work?
Prescription discount cards do work, and they are an excellent resource for people who don’t have insurance or people who do have insurance but want to ensure they always get the best price – also known as the cash price – for their prescription drugs.
How do free prescription discount cards work?
The drug discount cards are used in participating pharmacies. The pharmacy negotiates a discount with the card companies who provide the pharmacy customers with discount programs that reduce the cost of their generic drug or brand-name drug prices. The pharmacies are then charged transaction fees every time a customer uses one of the card programs. The pharmacies do it because they want to do all they can so their customers come to them every time they need to fill a prescription for generic medication or any other type of drug.
Who Should Use Discount Prescription Cards?
Just about anyone can benefit from a free prescription discount card. If you don’t have an insurance plan, you know how expensive prescription drugs can be. But you can present your myRxMedSaver card to the pharmacist and instantly know how much money you will save.
If you have insurance, you may be able to save money on your prescription drug with the free discount drug card. For instance, if your co-pay is $35 but the cost of the drug after using the card is only $12, there is no reason to use your insurance for the drug when you will pay less with the discount card. Another reason to use discount prescription cards when you have insurance is if you have a high deductible. Having to meet a high deductible can be avoided when you use the card.
Discount Prescription Card Facts
Before you use your discount prescription card, you should understand a few facts about the cards and how to get the most benefits from them. Here are some things you should know.
- Discount prescription cards like myRxMedSaver are free.
- Not all pharmacies accept every discount prescription card, and you will have to find the pharmacies in your area that accept your card. If you use the myRxMedSaver free discount card, your card will be accepted by 35,000 pharmacies across the U.S., including all of the major supermarket and pharmacy chains. You can also call the Pharmacist Help Line at 1-800-974-3125 for assistance.
- Your personal information will only be secure if your discount prescription card is HIPPA compliant. Prescription discount card companies are not required by law to protect the information of their users, but many do.
- You can check the retail price of your prescription drug on the myRxMedSaver Retail Pricing Engine. It will show you which pharmacy offers the lowest price on the drug. This tool is ideal for people who don’t have insurance. Remember, each pharmacy sets its own price for prescription drugs, so looking for the most affordable one is an important step in saving money on your medication.
- You can also turn to the Co-pay Challenge to help you make an informed decision. This tool compares your insurance co-pay and cash price of the drug, so you will have the information you need to make the right choice.
- You have multiple ways to use your card when visiting a pharmacy. You can request a printed version of the card and present it to the pharmacist when filling a prescription. Or you can download an app if the discount card company offers one. An app will allow you to carry your card with you at all times.
- You can’t use your insurance and the discount prescription card at the same time. You will have to choose, based on which one saves you the most money.
- Most of the time, only larger pharmacies and supermarkets accept discount prescription cards, because the discounts they negotiate for their customers cut deeply into their pockets. Sometimes, the pharmacy won’t make any money on the transaction, and sometimes they will lose money. But they offer a discount to their customers to offer a service to people who cannot afford their prescription medication. And they hope customers will purchase other items from the store.
- A discount card can save you money in another way: Many insurance companies will not cover generic medications, but sometimes they cost substantially less than the name-brand drug and are basically the same thing. In that instance, it would make sense to use the discount card and forego the insurance.
Are You Ready to Save on Your Prescription Medications?
If you’re like most Americans, you take at least one prescription drug each month. If a discount card can save you money each time you use it, it will quickly add up and allow you to keep more money in your pocket.
Take time to request your free card today, so you will have the tool you need to get the best price on your prescription drugs.