Prescription Drug Plan Payment Assistance
Many patients rely on prescription medications to stay healthy and prevent illnesses from getting worse. Between 2000 and 2009, retail prescription drug prices rose 3 percent annually, on average, according to the Kaiser Family Foundation, a nonprofit organization that researches and analyzes health issues. Though prescription drug prices may be expensive and financially out of reach, many public, private and nonprofit organizations run programs that can help you get the medications you need.
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Discount Cards
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Prescription discount cards act like coupons, as they give you a discount on the retail price of medications. Some discount cards require that you're uninsured, some have income or other eligibility requirements, and some have no requirements at all to obtain and use the card. The amount you save on each prescription varies depending on whether its a generic or a name-brand medication and whether the pharmacy already offers a discount on the drug. For retail-priced medications, you can save around 20 to 50 percent, on average, on your prescriptions. Examples of these programs include Together RX Access and the FamilyWize prescription drug discount cards.
Co-Pay Assistance Programs
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Several not-for-profit organizations offer co-pay assistance programs if you have prescription coverage that requires a co-pay -- that you cannot afford -- for your medications. Most organizations have income eligibility requirements and provide this free financial assistance to low-income individuals and families. Some organizations, such as the Chronic Disease Fund and CancerCare, consider your condition or illness as a qualifying factor for acceptance into the program. Other organizations that provide co-payment assistance for prescription medications include the Caring Voice Coalition, HealthWell Foundation and Needy Meds.
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State Assistance Programs
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State Pharmaceutical Assistance Programs, or SPAPs, utilize state funds to provide subsidies for low-income individuals to obtain prescription medications. Most states target low-income individuals, families and the elderly who do not qualify for Medicaid. Some states' programs give a certain percentage discount on your prescriptions, while others only require a low co-payment. Thirty-one states had some type of pharmaceutical assistance program in operation as of January 2010, according to the National Conference of State Legislatures.
Drug Company Assistance
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Many pharmaceutical companies offer assistance to patients directly by providing financial assistance and, in many cases, free prescription drugs to patients. The requirements for these programs vary with each pharmaceutical company. In some cases, you must meet residency, citizenship and income eligibility requirements. Many drug companies can help you whether or not you already have prescription drug coverage with your health insurance. Several drug companies that offer prescription drug assistance include Merck, Pfizer, Bayer, Aventis Pharmaceuticals and Bristol-Myers Squibb.
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