10 Ways to Save Money on Your Medicare Copays

We all know that Medicare can be expensive. That’s why it’s important to understand the various ways you can save money on your out-of-pocket costs, like co-pays and prescriptions. The following article will provide 10 easy tips for saving money on your Medicare copays to help you get the most bang for your buck.

Make sure you know what your plan covers before getting medical care.

Every Medicare plan covers different medical treatments and medications. Be sure to review your plan’s list of medical services and medications before getting treatment, so you know what costs are covered by the insurance.

If you’re in a Medicare Advantage Plan, use your plan’s mail order pharmacy

After founding and serving as CEO of Medicare platform EasyHealth, David Duel has become intimately familiar with the inner workings of Medicare, insurance, and healthcare. He recommends, “If you use a Medicare Advantage Plan, there’s a good chance your plan has its own mail-order pharmacy for prescription drugs and other items. This means that if you need to refill a medication or get another item covered by the insurance company, you can go through their in-house pharmacy rather than paying out of pocket.”

Consider using generics instead of brand-name drugs.

Generic drugs are typically significantly less expensive than their brand-name counterparts. If you or a loved one need to take a prescription drug, it might be worth going with the generic version of that medication instead of shelling out for the pricier brand name option.

Ask for free samples if you’re not sure about the drug and want to try it first

Most doctor’s offices have free samples of a variety of drugs available on hand provided by pharmacy salesmen. If you’re not sure whether or not a certain drug is right for you, ask your doctor if they have free samples on hand that can help you try the medication before committing to buying it.

Compare prices at different pharmacies before filling your prescription; some may offer discounts or coupons.

If you’re taking a medication for an ongoing condition, compare the prices of different pharmacies.  Some are known to offer discounts or coupons on select medications at certain times of year that may help save you money when it comes time to refill your prescription.

Get an extra prescription from another doctor who will charge less than your regular physician.

David Duel also advises, “Some physicians will charge a lower price for a prescription than others. If you have multiple doctor’s appointments scheduled in the near future, try to get an extra prescription from another doctor who charges less for medication or other supplies covered by Medicare. This can help save money over time if you need ongoing prescriptions filled often.”

Forgo unnecessary tests or treatments that are not covered by your plan.

David Duel continues, “Some tests and treatments are fully covered by Medicare, while others may not be.  Be sure to consult your plan’s list of medical services before undergoing an expensive test or treatment with questionable benefits; if it is not listed on the plan’s approved list, you could end up footing the bill yourself.”

Compare prices of procedures in different locations.

As mentioned above, some procedures are covered by Medicare while others are not.  If you have a choice of where to get care, consider getting the procedure done somewhere else. Call all the treatment providers in your area and get quotes for your procedure before making a decision about where to have it done.

Ask for discounts when paying for services directly at the provider’s office.

When you get medical care in a doctor’s office, hospital, or other provider location, there is often an option to pay for services upfront.  If you plan on paying out of pocket for this type of situation (rather than using Medicare), ask the billing department if they offer discounts for senior citizens and other types of patients with financial limitations. Many offices offer a steep discount (70% and up) to people who are paying out of pocket.

Call your insurance company to find out if there are any copayment exceptions available to you as a retiree or senior citizen.

Many insurance companies offer copayment exceptions for senior citizens and retirees.  If you’re planning on undergoing a procedure or getting prescriptions filled during the coming year, call your insurer to find out if they have any copayment laws that might help reduce the cost of care. This can save money in most cases when it comes time to pay.