Americans spend more than $600 billion a year on prescription drugs. Specialty drugs alone account for more than half of that. While there are ongoing efforts to negotiate better drug prices, there is little hope that the costs for most medications will come down without prescription assistance.
Due to this reality, many people turn to prescription assistance programs. There are many different types to consider when choosing medication services. Which one is best depends on your unique situation.
This article explains the complex world of prescription assistance programs. It covers how they work and how they can help you access affordable medication.
It also will explain how our $60.00 a month through Prescription Hope’s medication access service service stands out in a crowded field. Keep reading to find out more.
Drug Company Assistance Programs
Some of the major pharmaceutical companies themselves offer drug assistance programs. Many of these are designed to help patients meet high copays. The idea is to ensure patients meet their deductible so that they can continue to access their medication for the rest of the year.
With Prescription Hope, we can help you access your needed prescriptions at only $60.00 per month per medication, with over 1,500 prescriptions available through our medication access service.
Premium Prescription Assistance Programs
Many people have conditions that demand high-cost medications. This causes their health insurance premiums to climb every year. The catch-22 is that it can become difficult to maintain health coverage, which many of these people need to get their medications.
Premium assistance programs help people maintain health coverage by paying part or all their premiums. Qualifying for these programs is usually determined by income. These are often run by foundations and non-profits, although there are different state and federal programs as well.
One of the main criteria for qualifying for premium assistance programs is having a certain disease. Common ones include hemophilia, multiple sclerosis, muscular dystrophy, cystic fibrosis, and others.
Such programs can be beneficial to people affected by such conditions. However, they are usually limited to these specific, often rare, diseases.
State Pharmaceutical Assistance Programs
Some states offer drug assistance programs to help residents pay for prescription drugs. These can come in the form of drug discounts or assistance with copayments premiums. Each program is distinct, with various qualifying criteria.
Some state programs are based on certain illnesses, such as HIV/AIDS and end-stage renal disease. Others are geared towards the elderly and are coordinated with Medicare Part D, that program’s drug benefit component.
Fee-Based Programs
Fee-based programs for prescription medications have grown in popularity in recent years. These work by giving members access to a pool of medications at lower costs, which the organization has negotiated.
Fees for membership in these organizations can vary both in amount and duration. Some charge a one-time enrollment fee, along with annual or monthly payments. These payments are designed to cover the administrative costs of operating the program.
How much of an advantage these programs can offer is based on how much you would otherwise pay for prescription medications. If you have insurance, calculate your deductible (if you meet it every year). Add any co-insurance payments and the cost of the medications themselves. If this total equals more than the membership fee and the drug costs in the program, then they can be a great alternative.
A common downside to these programs is that they do not cover every medication. Also, since they are negotiating costs every year, drugs can move onto and off the program list. Be sure to do your research before enrolling.
Unlike many of the other types of prescription assistance programs, these plans have little to do with insurance coverage. Also, they are not insurance plans themselves. They serve as a portal through which to access cheaper prescription drugs.
The Prescription Hope Alternative
Prescription Hope offers a unique approach to fee-based prescription services. We work with over 180 pharmaceutical manufacturers.
This gives our members access to over 1,500 FDA-approved prescription medications. It also allows us to offer a wide variety of affordable medication, including many name-brand drugs.
We do not have any pre-qualifying criteria for accessing drug discounts beyond income level. If you are an individual who earns $50,000 or less a year, or a household with a combined income of $70,000 (or up to $200,000 with a certain number of dependents), you pre-qualify.
Prescription Hope serves individuals and families who are insured, uninsured, or underinsured. We also can work with most Medicare Part D plans.
We charge a $60.00 per medication per month service fee. There are no other costs associated with the medication or our program. There is no enrollment fee or any other costs associated with your membership. Also, the enrollment process is straightforward and easy.
Unlike many private and government-run programs, there is no open enrollment period. So, you can begin accessing discounted prescription meds today and leave whenever you want. This eliminates any risk when trying our program to see if it works for you.
Our staff will help you order, manage, and track your prescriptions. These are typically delivered within two to four weeks from the time you order. With most medications, we will have the pharmacy send a 90-day supply.
Learn More About Prescription Assistance Programs
Now that you understand the different types of prescription assistance programs, you can determine which is best for you. It is important to weigh all the variables when choosing medication services. With a little time and diligence, you can find a program that works for your budget and health needs.
Since 2006, Prescription Hope has helped tens of thousands of individuals and their families access prescription medications each month. If you meet our income requirements, we can help. Prescription Hope can help you get your needed medications at just $60.00 per medication per month with over 1,500 prescription medications to choose from.
