The cost of prescription drugs are climbing each year and these high prices can be a burden on senior citizens who live on a fixed income. Medicare recipients requiring prescription medications each month may find that a Medicare Discount Card can provide significant savings. With the Medicare Discount Card, seniors can save from 16% to 30% off retail prices. Generic drug savings are more significant.
Those who are enrolled in the Medicare program are eligible for the Medicare Discount Card. Individuals who receive Medicaid outpatient prescription drugs are not eligible. Further those who receive assistance with drug costs through a Medigap insurance plan do not need the Medicare Discount Card.
For eligibility, income for an individual can not exceed $1,354 per month to qualify for the Medicare Discount Card. The limit for married couples in $1.821 per month. In addition, individuals can not have more than $5,600 in resources and couples cannot have more than $9,900 in resources. The maximum cost for the card is $30 per year. Some cards have lower fees and some have no fees.
Not all medications are covered by the card. Every card will have a discount on at least one medication for each type of major illness. Also, it is worth noting that not all pharmacies will accept the Medicare Discount Card.
Enrollment can occur at any time of the year and is a simple process. There is no penalty or deadline because this program is voluntary. Forms can be located and printed from the medicare.gov website or by calling 1-800-MEDICARE. A form will then be sent in the mail. Because the savings is so significant, learning more about enrollment and eligibility is encouraged.