Prescription Drugs

High prescription drug prices can be a burden for older adults. President Biden’s Inflation Reduction Act began bringing seniors’ drug costs down. The law included a cap on out-of-pocket spending and empowered Medicare to negotiate prices with Big Pharma.The Trump administration should continue implementing the Inflation Reduction Act and not weaken any of its protections.

In this section, you’ll find helpful tools and advice. See how RxAssist can help you save on prescriptions through manufacturer’s programs. Learn about prescription drug coverage through Medicare Part D — and how to make the right choices during open enrollment.

Seniors shouldn’t have to ration medications or go broke paying for lifesaving drugs.

Part D Drug Coverage and Costs

The “donut hole” coverage gap required beneficiaries to pay substantially more for their drugs when they reached a certain level of spending and was included in the standard benefit design of the law that originally established the Part D program.

RxAssist

RxAssist is a nationally recognized, web-based medication assistance resource center. Established in 1999 with funding from The Robert Wood Johnson Foundation, RxAssist can help you learn about ways to use pharmaceutical company programs and other resources to help reduce your medication costs. There’s a database and list of frequently asked questions to learn more.

Charity Programs That Help Pay for Prescriptions

If you have Medicare Part D coverage but still have trouble paying for your prescriptions, there are charities that may be able to help. Some of these programs may also help pay for drugs Part B covers, such as oral anti-cancer drugs.

Frequently Asked Questions about Medicare Part D

Compared to having no prescription drug coverage, most seniors will experience significant savings by participating in Part D.

Thinking About Dropping Your Medicare Drug Coverage During Open Enrollment? Think Again.

Dropping Medicare drug coverage to save money is probably not a great idea.

How Seniors Can Save Money on Prescription Meds

Carefully review your medication coverage during open enrollment, Donovan says. (For Medicare Part D, the prescription drug benefit, open enrollment ends Dec. 7.)