Medicare drug savings: practical tips to lower your Rx bills

You can save a lot on prescriptions without changing doctors. Small choices — the right Part D plan, a switch to generics, or using a mail-order pharmacy — can cut your drug bill by hundreds a year. Below are clear, usable steps you can take now.

Check your drugs against the plan’s formulary

Every Part D plan has a formulary — that’s the list of drugs it covers. Don’t guess. Use Medicare.gov’s Plan Finder to enter your exact medicines, dosages, and pharmacies. That tool shows your projected yearly cost per plan, including premiums, copays, and the donut hole. If your current plan puts high-cost meds in a higher tier, switching plans at open enrollment can save you money fast.

Ask your prescriber if a therapeutic equivalent or generic is okay. A generic often costs a tiny fraction of the brand name and works the same. If your drug needs a prior authorization or step therapy, talk to your doctor’s office — sometimes paperwork or a one-time appeal gets the coverage moved to a better tier.

Use discounts, programs, and smart pharmacy choices

Compare pharmacies. Prices can vary a lot between local stores, big chains, and online/mail-order pharmacies. For maintenance meds, a 90-day supply from mail-order is often cheaper and only a few clicks away. Also check if your state has a Pharmaceutical Assistance Program — many states run extra help for people on Medicare.

See if you qualify for Extra Help (Low-Income Subsidy). This federal program lowers premiums, deductibles, and copays for people with limited income and assets. The application is through Social Security and can change your entire cost picture, so it’s worth checking even if you think you’ll be denied.

Don’t ignore manufacturer assistance and patient assistance programs. Some drug makers offer savings cards or free meds for eligible patients. Community clinics and some nonprofits also run funds to cover prescription costs for those in need. If cost is stopping you from filling a prescription, ask your pharmacist — they often know the quickest route to a discount.

Look beyond Part D: some Medicare Advantage plans include extra drug discounts or preferred pharmacy networks. If you switch plans, read the fine print about networks and mail-order rules so your savings actually materialize.

One final tip: review your meds annually. Drug needs change, prices change, and new generics appear. Mark your calendar for open enrollment, run your meds through the Plan Finder, and call your pharmacist or doctor with any cost concerns. A little yearly effort can save you serious cash and stress.