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Seniors: 3 Signs That You Are Paying Too Much For Prescription Medication

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As you get older, you might find yourself taking more prescription medication than you have taken in the past. This can take a lot of money out of your pockets each month, which can be especially difficult if you are now retired. However, there is a chance that you are paying more for your medication than you have to. These are a few signs that it might be time to make some changes so that you can save a significant amount of money on the medications that you have to purchase each month.

1. You Haven't Signed Up for a Prescription Drug Plan

One of the biggest ways that you can save money on prescription medication is by signing up for a prescription drug plan. You can sign up for one of these plans alone -- there are plans that are approved by Medicare and that will work with your traditional Medicare coverage -- or you can sign up for a Medicare supplement plan that includes drug coverage. For a small monthly premium, you can often save a lot of money on your prescription medication. Additionally, if you choose a Medicare supplement plan, you can save on other healthcare costs that Medicare doesn't cover, too.

2. You Haven't Talked to Your Pharmacist About Options for Saving Money

It's important to talk to your pharmacist to find out if there are ways that you can save money. Your pharmacist may be able to provide you with options, such as by telling you about loyalty programs through the pharmacy or by filling your prescription with a generic alternative to the name brand. Many pharmacists are completely understanding of how expensive medication can be -- especially for senior citizens -- and are more than happy to provide suggestions for cutting costs.

3. You Haven't Talked to Your Physician About Your Prescription Drug Costs

Along with talking to your pharmacist about your costs, it's also a good idea to discuss your concerns with your doctor. Some doctors are aware of which local pharmacies offer certain prescriptions for the most reasonable prices, and many will look for an alternative (and more affordable) prescription if you ask. Your doctor might also be able to give you samples for some of your medications.

If you have not done these three things and are concerned about your prescription medication costs, consider giving them a try. You might be able to save more money on your prescriptions than you think if you do. You may also want to talk to a company like Continental Insurance Agency, LLC to see how they can help you choose an insurance plan that will work best for whatever medications you need.


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