Today, we’re looking at the popular drug discount program, GoodRx. You do not have to be on Medicare in order to use GoodRx. The program can lower out of pocket costs on prescriptions for your entire family, infants through senior citizens, and even your pets.
Can GoodRx replace Medicare Part D?
GoodRx is not a replacement for Medicare Part D.
GoodRx is not considered creditable coverage by Medicare, so if you use GoodRx and delay your Medicare Part D enrollment without having any other creditable coverage, you will have to pay the Part D late enrollment penalty if you decide to join a Medicare Part D plan later. More information on the Part D late enrollment penalty can be found here.
Can GoodRx save you money?
Even though GoodRx isn’t a replacement for a Part D plan, it can save you money.
You can’t use GoodRx discounts combined with prescription insurance, but you can comparison shop and use GoodRx instead of your drug insurance when doing so will save you money at the pharmacy.
You can compare prices online to find out whether it would be less expensive to use your Part D plan or GoodRx on each of your prescriptions. You can also ask your pharmacist which option would be cheaper.
Confused about your Medicare coverage options? Watch our free video: How to Find the Best Medicare Coverage Without Paying More Than You Need To…
How does GoodRx work?
GoodRx is a website and an app that comparison shops for you to find the lowest price for your prescription medications.
Visit GoodRx.com or the mobile app and search for your prescriptions by name. Because brand name and generic prices are different, it’s very important to search for the exact name given on your prescription.
For example, a search for Lipitor, which is a brand name drug, will give you vastly higher prices than a search for Atorvastatin, which is the generic name for Lipitor. Also, different dosages and frequencies will result in different prices, so again, it’s important to search for exactly what you have been prescribed by your doctor.
Get Free Coupon
Once you’ve found the best price, click “get free coupon” and either print it, text it to yourself, or just show it in the GoodRx app when you go to the pharmacy.
You don’t have to enter any personal information to use the free GoodRx program. It’s just like having a coupon.
GoodRx Gold
There is a premium version of GoodRx called GoodRx Gold that has a fee of $5.99/month for individuals and $9.99/month for up to six family members, including pets. GoodRx Gold has over 1,000 prescriptions at a monthly cost of under $10.
Read Also: 10 Ways To Save On Prescription Medications
Most of our clients who have GoodRx find they have substantial savings with just the free version, but it may be worth checking GoodRx Gold prices for your prescriptions to see if the monthly fee plan lowers your costs enough to pay for itself.
How to pay for meds with GoodRx
Because GoodRx can’t be combined with insurance, it’s important to tell the pharmacist not to run the prescription through your insurance. Ask that the pharmacy use the coupon or GoodRx Gold card to process the transaction as cash instead.
While GoodRx can’t replace Medicare Part D, it is a useful discount program that may lower your copays and provide discounts for medications that are not covered by your Part D plan.
If you have questions about Medicare prescription drug coverage, please feel free to give our office a call at 877-312-1414. Have a great day!
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