Courtesy of Univera Healthcare

As we age, prescriptions often become part of everyday life. Medications help manage common conditions such as high blood pressure, diabetes, heart disease, and arthritis. While these treatments help people stay active and independent, they can also strain monthly budgets, especially for those on a fixed income. “Rising health care costs can be frustrating for everyone, and for older adults, prescription medications are often a significant and ongoing expense,” says Mona Chitre, PharmD, Univera Healthcare’s senior vice president and chief pharmacy officer. “The encouraging news is that a few simple, proactive steps can help keep prescription costs manageable while still protecting your health.”

Taking Medications as Prescribed.

It can be tempting to stretch a prescription or skip a dose when costs feel overwhelming, but doing so can lead to bigger problems later. “Taking medications as prescribed is one of the most effective ways to avoid higher costs down the road,” Chitre says. “Skipping doses or stopping medications for chronic conditions can be dangerous and may lead to complications, such as disease progression, or result in an emergency room visit or hospitalization, both of which carry even higher costs.”

Your Pharmacist is a Valuable Resource.

Pharmacists can answer questions about how to take medications safely, explain possible side effects, and identify interactions between prescriptions. They can also help identify lower-cost alternatives that work just as well, which you can then discuss with your doctor. Some health plans offer medication reviews for people taking multiple prescriptions to help ensure their medications work well together. Check with your health plan to see what support programs are available. 

Making Budgeting Easier.

Prescription expenses may fluctuate throughout the year, making budgeting difficult. For people enrolled in Medicare Part D, some health plans offer options that spread prescription costs into predictable monthly payments rather than larger one-time expenses. While these options do not reduce the total cost of medications, they can make planning for expenses easier and help avoid surprises. Check with your health plan to see what support programs are available. 

Compare Prices and Look for Savings.

Many people are surprised to learn that prescription prices can vary by pharmacy. Comparing prices at nearby pharmacies and discussing more affordable options with your prescriber or pharmacist are simple steps that can add up to significant savings over time. There may also be assistance programs that help reduce out-of-pocket costs. In New York State, eligible seniors may qualify for the Elderly Pharmaceutical Insurance Coverage (EPIC) program. “At Univera Healthcare, we have an online tool for Medicare members to compare prices of their prescriptions at local pharmacies,” Chitre says. “Checking eligibility for EPIC and enrolling can make a noticeable difference.”
Rising prescription costs are a reality, but staying proactive makes them more manageable. By asking questions, using available resources, and checking with your pharmacist and health plan, older adults can focus more on enjoying a healthy, active life.