Prescription Drugs – Saving Money

Can you really save money with a prescription drug card? In most cases the answer is no. Even the "free" drug cards are a waste of money.

Many people who take prescription medication are looking for ways to save money. Seniors on a fixed income are finding that, in many cases, the Medicare Part D (PDP = Prescription Drug Plan) is little or no help.

Stand alone prescription drug plans with copay's charge monthly fees of up to $40. These plans are like the Wizard of Oz. "Pay no attention to the man behind the curtain". In most cases the copay is close to, or even higher than the price you would pay without the plan.

What kind of deal is that?

And the "free" drug plans are even worse.

Here is one drug plan that is heavily promoted to seniors on Medicare. The USA Drug Plan is deceptively attractive, at least until you peel away the layers of the onion and see what you really get.

If you are taking a popular cholesterol lower drug such as Zocor, how much will the drug cost using the USA plan? A 90 day supply of 20mg Zocor is $459 at your local Kroger when using the drug card. If you have a Costco nearby you can get Zocor for about the same per tablet price. (Note, you do not have to be a member of Costco or Sam's Club to take advantage of member pricing on prescription drugs).

But if you use a popular mail order pharmacy, such as Blue Sky, you can get Zocor for $91. Using Blue Sky will save you over $1200 per year on one medication.

We have been recommending Blue Sky to clients for years. This is not a paid endorsement. We get nothing other than the satisfaction of knowing those who follow our advice will achieve REAL SAVINGS.

You may be wondering why prescription drug plans such as the USA plan are popular. There is a lot of money to be made pushing these plans, especially to unsuspecting seniors on a fixed income. Drug plans that do not charge a monthly fee have built in compensation that pays the agent promoting the plan every time you fill a prescription. Each plan works differently, but most will compensate the agent as much as $2 every time you use the card plus up to $0.50 for every prescription.

If you use the card twice a month for a total of 6 medications the agent who sold you the "free" card could make $7. For certain, that is not a lot of money but for an agent with several hundred clients and numerous referrals this can be a real cash cow.

But this is not about how much the agent earns from peddling a drug card. This is about saving money, especially for seniors on a fixed income.

Affordable Medicare Supplement Plans for Georgia Seniors

If you are looking for ways to save money on prescription drugs and Georgia Med supp (Medigap) plans, we have the widest selection and the lowest rates. Compare Medigap plans from AARP, Blue Cross of Georgia and more.

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