Page 20 - Senior Times South Central Michigan June 2021 - 28-06

Page 20 Senior Times - June 2021
COST SAVING TIPS FOR YOUR MEDICATIONS
By: Glin Winsor, Practice Manager, DayOne Family Healthcare P.C.
We all understand how important medica- tions are to helping people stay well and that needed medications can be very expensive. Five out of six people aged 65 years of age or older are taking at least one medication. Half of all seniors take three or more medi- cations; that’s five times more prescriptions than those aged 19-24.
Older adults will spend an average of $5,000 per year on their health care needs. This includes deductibles, copays, premi- ums, prescriptions and other health care expenses not covered by insurance. This doubles to almost $8300 a year for adults 85 years of age or older.
Here are some tips and things to think about to control your prescription costs.
Your health care provider may not know how much you’re paying for the drugs prescribed. It is important to find the right medication for your health conditions. If
the medication is too expensive and it is not something you will be able to take, then it is not the right medication for you.
generic is available. Almost 80% of FDA approved drugs have generic equivalents that cost an average of four times less than the brand name versions. Generic drugs
are as effective and safe as the brand name drugs they’re based on. They have the same active ingredients and must work the same way as their brand name counterparts to be approved by the FDA. That means they have the same risks and benefits, too.
PAPs, enable people who can’t afford to pay for their medications to get them for free or a reduced price. Typically, the programs are sponsored by prescription drug companies or your state.
A Medication Record will help you have this discussion with your doctor and/or pharmacist. To help you to manage all your health condition and medication information, it is recommended by the FDA, medical, and pharmacy organizations that you keep an up to date Medication Record. This should con- tain information on:
The FDA estimates that generic drugs cost 20 percent to 70 percent less than their brand name counterparts. Let your doctor
or pharmacist know that you want the most effective drug at the best price. Each state has a law allowing pharmacists to substitute generic drugs for many brand name products as long as your doctor doesn’t specify that a brand name drug is required.
To participate in the program, the indi- vidual must apply for and be approved to participate in the program. Your health con- ditions, financial situation, the cost of the drugs, and whether you have other prescrip- tion drug coverage help determine whether you qualify for a prescription assistance program.
• Health conditions and allergies.
• All prescription medicines – include
One last way that you might be able
to save on your medications is to take advantage of a program called Medication Therapy Management sometimes called a medication checkup. This program helps you and your doctor make sure that your medi- cations are working to improve your health. Contact your drug plan for eligibility.
information on medications such as eye drops, creams or ointments, vaccines, and SAMPLES.
• Nonprescription medicines – include vita- mins, cough and cold products, sleep aids, pain medications, herbal products, and dietary supplements such as glucosamine.
In some cases, doctors will have full size samples they can pass along. Samples may be available for medications used every day like inhalers or blood pressure medications. If you need to start a medication that is new to you and does not have a generic currently available, ask your doctor to see if they have free samples. This can be especially helpful if you are trying a new medication. It is important that you record the samples you are taking to your medicine record and then share this information with your doctor and pharmacist.
Make a copy of the Medicine Record for your doctor, pharmacist, and loved ones.
It is also important that you carry current copy and have a copy at home. This way the record can share your information when you cannot.
If you’re in a Medicare drug plan and take medications for different medical conditions, you may be eligible to for a Medication Therapy Management pro- gram, at no cost to you.
If anything in your medical history or medications that you take changes, make sure to update it and then share the updated list at your next visit with your health care provider.
A pharmacist or other health professional will give you a comprehensive review of all your medications and talk with you about:
• How to get the most benefit from the drugs
Many drug plans place drugs into differ- ent "tiers" (or level) on their formularies. Drugs in each tier have a different cost to the patient. The cost of each tier will depend on the type and cost of the medication. In general a drug in a lower tier will generally cost you less than a drug in a higher tier.
One way to help save on your medica- tions is to buy in larger quantities to save on the per tablet price. Your pharmacist is a good resource to help you look at price sav- ings for your medications.
you take.
• Any concerns you have, like medication
To save on your medications when using your drug plan coverage, work with your doctor or pharmacist to find medi- cations that will help with your conditions that are in lower tiers of coverage in your drug plan formulary.
You’ll get a written summary of this dis- cussion, including an action plan that rec- ommends what you can do to make the best use of your medications, with space for you to take notes or write down any follow-up questions. You’ll also get a personal medi- cation list that will include all the medica- tions you’re taking and why you take them. During the medication review the pharma- cist may be able to help find ways to reduce your medication costs. It’s a good idea to schedule your medication review before your yearly wellness visit, so you can talk to your doctor about your action plan and med- ication list. Bring your action plan and med- ication list with you to your visit or anytime you talk with your doctors, pharmacists, and other health care providers.
Many pharmacies have begun to offer discount programs to their patients who do not have prescription drug insurance. Each program is a little different; some have dis- counts only on select generic medications. Others will be in a membership or club format that have a small enrollment fee but will offer more medications available at a discount. This might include both generic and brand name medications. Do not hesitate to ask your pharmacist if the pharmacy’s discount program could be of assistance in reducing your medication costs.
your prescription and over the counter medication.
costs and drug reactions.
• How best to take your medications.
• Any questions or problems you have about
In some cases, it may be an option to try using an over the counter medication before starting a prescription medications. There have been a number of prescription medica- tions that have gone over the counter; these medications may be used for health condi- tions like allergies, acid reflux, and arthritis. Buy the OTC medicines when they are on sale. Check the expiration dates and use them before they expire.
Many pharmaceutical companies have programs that provide their drugs at deep discounts or even free for people in need. If you have a prescription for a high cost drug, check out the company’s web site to see if they offer assistance.
If available, purchase the house brand of the over the counter item, it will also be less costly than the brand name. If you are taking over the counter medications, they will not be included in your pharmacy records and cannot be screened for drug interactions.
You can also look up patient assistance programs on the NeedyMeds.org website, which provides information on almost 6,000 programs. This website maintains a database of companies categorized by the drugs they produce. You can search this list and get an address, phone number, website, and other information about drug assistance programs.
Publisher’s Note: An easy way to keep your records with you at all times is to wear the Miles for Memories Personal I.D. bracelet. In case of an emergency, respond- ers can read your information with a quick scan in five seconds or less. See the article on page 16 for more information.
You don’t have to pay for an expensive brand name drug if an equally effective
Prescription assistance programs, or