Senior Citizens: 3 Signs You Are Paying Too Much For Your Medication

As a senior citizen, there is a chance that a nice chunk of your monthly budget goes toward medication-related expenses. Paying for expensive prescriptions can definitely put a huge damper on your budget, but there is a chance that you might be spending more than you have to. These are a few signs that you are paying too much for your medication.

1. You Haven't Signed Up for Medicare Part D

First and foremost, it's a good idea to sign up for Medicare Part D if you haven't already. Medicare Part D is a prescription drug coverage plan that can help pay for some of your drug-related expenses. If you have Medicare, this should be an option for you.

2. You Haven't Talked to Your Doctor

Have you talked to your physician about the financial strain that you might have been experiencing due to your prescription drug costs? If not, now is a good time to consider doing so. There are a few ways that your doctor may be able to help you. For example, he or she might be able to change your prescription to a similar drug that is known to be more affordable. Many doctors also often have sample packs, which he or she may be able to give you for medications that you will only be taking temporarily or to help you during a tough financial time.

3. You Haven't Shopped Around for Pharmacies

Even though you might like the pharmacy that you typically go to for your prescriptions, it doesn't always pay to be loyal. Consider calling all of the pharmacies in your area to compare pricing and find the lowest prices, and make sure that you do so each time that you get a new prescription, too. You may find that you are better off going to different pharmacies for different prescriptions. Even though all of this might seem like a big pain, it can be worth it in some cases, when you may be able to save more than you think by shopping around.

Do any of these three things apply to you? If so, there is a good chance that you might be paying more for your prescriptions than you should be. Luckily, changing the way that you do things can help you save a significant amount of money on your medications each month, which can really help you out financially, especially if you are retired. 

Talk to a company like Continental Insurance Agency, LLC for more information.