Arlington, VA – Many older Americans struggle to afford all of their prescriptions. Often seniors with and without insurance have to make the tough decision to not pay a bill or to buy less food, just so they can purchase the medications they need. That’s why the National Council on Aging (NCOA) and FamilyWize are partnering to connect seniors and their caregivers with a prescription savings card that could help them manage their medication budget.According to the 2014 Commonwealth Fund Biennial Health Insurance survey, 35 million adults did not fill a needed prescription due to cost.
The FamilyWize Prescription Savings Card is easy to use. Show it at a participating pharmacy when purchasing a prescription to get the discount. The FamilyWize card is accepted at more than 60,000 pharmacies nationwide and covers all FDA-approved prescription medications. The card is free to all consumers – both insured and uninsured – and has no eligibility requirements.
For seniors and individuals with disabilities on Medicare, the FamilyWize card does not provide savings for prescription drugs covered by plans under Medicare Part D. However, the card may provide savings if a person needs to purchase drugs that do not appear on their Part D plan formulary.
NCOA encourages individuals with Medicare drug coverage to use their Part D drug benefit in their pharmacy network to get the best price on their prescription medications.
If a beneficiary has Medicare drug coverage and chooses to purchase a medication with cash directly instead of using their Part D insurance (e.g., using the discount card during their deductible period), they are responsible for submitting documentation to their drug plan to determine whether they are eligible for reimbursement and whether the costs will be included toward their true out-of-pocket (TrOOP) and total drug costs for the donut hole (if applicable). It is best for individuals to purchase their medications at a pharmacy in their plan’s network to be eligible for reimbursement.
“For many older Americans, prescription drug costs consume a growing, unmanageable portion of their monthly budget,” said Leslie Fried, Senior Director, NCOA Center for Benefits Access. “FamilyWize and its prescription savings card may provide an option for affording drugs not covered by current drug insurance, if the individual has it, and making them less of an economic burden for those without.”
The FamilyWize card is available to thousands of seniors at ncoa.org/FamilyWize, as well as through NCOA’s online resources, My Medicare Matters®, BenefitsCheckUp®, and EconomicCheckUp®. This partnership is one of many programs and services that NCOA provides in its quest to improve the health and economic security of 10 million older adults by 2020.
“Our organization is focused on improving the health and well-being of individuals, families, and communities,” said Susan Gilmore, Executive Director of Community Engagement for FamilyWize. “In 2014 alone, we saved 2.2 million consumers more than $175 million on prescription drug costs. Now, we are also making NCOA’s valuable online resources available to the people we are helping. Partnering with NCOA will help us further our mission and enable us to reach even more people across the country.”
The National Council on Aging (NCOA) is a respected national leader and trusted partner to help people aged 60+ meet the challenges of aging. Our mission is to improve the lives of millions of older adults, especially those who are struggling. Through innovative community programs and services, online help, and advocacy, NCOA is partnering with nonprofit organizations, government, and business to improve the health and economic security of 10 million older adults by 2020. Learn more at ncoa.org and @NCOAging.
About The FamilyWize Community Partnership
FamilyWize is a community service partnership focused on improving the health and well-being of individuals, families and communities. Through our partnerships with United Way and more than 100,000 community organizations, government agencies, pharmacies, health systems and businesses, we are making prescription medications more affordable and more accessible. To take advantage of the savings that FamilyWize offers, consumers can print a card from FamilyWize.org, call 1-800-222-2818 and request a card to be sent to them, or download the free FamilyWize app.