Prescription Discount Card Use Growing

Finding affordable prices for prescriptions is difficult based on a number of factors including lack of price transparency, challenging insurance and reimbursement information and consumers’ ability to search the internet for list prices which can widely vary across pharmacies.

Due to the increasing price and use of prescription drugs, consumers are searching for ways to save money. A JAMA Network study stated, using 2007-2018 net pricing data on branded pharmaceutical products in the U.S., list prices increased by 159% and net prices increased by 60%. Discounts increased from 40% in 2007 to 76% in 2018 in Medicaid and increased from 23% to 51% in other payers, offsetting 62% of increases in list prices for drugs.

The Centers for Disease Control and Prevention (CDC) offers the following data on prescription drug use from 2015-2018:

• Percent of persons using at least one prescription drug in the past 30 days: 48.6%
• Percent of persons using three or more prescription drugs in the past 30 days: 24%
• Percent of persons using five or more prescription drugs in the past 30 days: 12.8%

One choice for consumers to save money is a prescription drug discount card. Prescription discount cards are designed to provide lower drug costs to patients paying for their medications in cash. There is no cost to use these cards, and they are available to consumers whether they have health insurance or not. 

Consumers with employer, federal, or no insurance can all use drug discount cards. Those consumers with insurance with the use of a drug discount card will pay out of pocket and not affect their insurance deductible.

Savings programs will negotiate discounts on bulk drug purchases with pharmacy owners. Consumers can then access lower medication prices at nearby pharmacies by using a free card or mobile app provided by the Rx savings program.

Numerous sources evaluate and compare prescription discount cards, including the following:

• https://www.verywellhealth.com/best-prescription-discount-cards-4801786
• https://www.seniorliving.org/prescription-discount-cards/best/
• https://costsofcare.org/drug-discount-cards-liftin-the-veil-of-secrecy/
• https://www.medicarefaq.com/faqs/manufacturers-coupons-and-medicare/
• https://www.moneymanagement.org/blog/best-prescription-discount-programs
• https://www.theseniorlist.com/prescription-discount-card/best/

AMI’s Prescription Discount Cards report does not evaluate or compare prescription discount cards but provides information on the leading companies that offer these cards and savings programs.