Here's a number that might surprise you: Americans over 65 spend an average of $6,800 per year on prescription medications. But many seniors could dramatically reduce that number using legitimate strategies that most pharmacists, doctors, and insurance agents never mention.
In this guide, I'm sharing seven methods that work — drawn from my 18 years as a pharmacist working with Medicare patients.
1. Ask Your Doctor for Therapeutic Alternatives
This is the single most powerful strategy, and it's completely free to explore. Many expensive brand-name drugs have generic equivalents — or therapeutically similar drugs — that cost a fraction of the price and work just as well for most patients.
Before your next appointment, look up the retail price of each of your medications on GoodRx.com. Then bring that list to your doctor and ask: "Is there a generic or a cheaper alternative that would work for my condition?"
Many doctors simply prescribe what they know — they may not realize how expensive a particular drug has become for their patients. When you show them the numbers, most are very willing to work with you.
A patient of mine was paying $340/month for a brand-name blood pressure medication. When I flagged this, her doctor switched her to a generic equivalent. Her new cost: $8/month. Same blood pressure control. $3,984 saved per year.
2. Use GoodRx and Other Drug Discount Cards
GoodRx is a free service that negotiates discounted prices at pharmacies across the country. It's not insurance — it's a discount card — and it's available to anyone, regardless of insurance status.
Here's the key insight most people miss: sometimes GoodRx is cheaper than your Medicare copay. Before filling any prescription, check the GoodRx price. You can use it instead of your Part D coverage when it costs less — though note that any amount paid with GoodRx does NOT count toward your Medicare deductible or out-of-pocket cap.
Other options to compare: RxSaver, Blink Health, and the drug manufacturer's own patient assistance website.
3. Apply for the Extra Help (Low Income Subsidy) Program
Extra Help is a federal program that helps people with limited income pay for Medicare prescription drug costs. It covers premiums, deductibles, and copays — and millions of eligible seniors don't even know it exists.
In 2026, Extra Help can save you up to $5,300 per year in Part D costs. To qualify, your income must be below $22,590 for individuals or $30,660 for married couples (these figures may be updated — check ssa.gov for current limits).
You can apply for free at SSA.gov or by calling 1-800-772-1213. The application takes about 30 minutes.
Even if you don't think you'll qualify, apply anyway. SSA uses a broader definition of "resources" than many expect, and assets like your home, car, and many personal belongings don't count.
4. Use Mail-Order Pharmacy for Maintenance Medications
For medications you take every day (blood pressure, cholesterol, diabetes medications), mail-order pharmacy through your Part D plan typically costs significantly less than retail — usually a 90-day supply for the price of a 60-day supply.
Check if your Part D plan has a preferred mail-order pharmacy. Using it for long-term medications can save $200–$600 per year with no extra effort.
5. Shop for a Better Part D Plan Every Year
This is the mistake I see most often: people pick a Part D plan once and never revisit it. But Part D plans can change their formularies (covered drug lists) every single year — and your medications might get moved to a higher cost tier, or dropped entirely.
During every Annual Enrollment Period (October 15 – December 7), use the Medicare Plan Finder at Medicare.gov to compare plans based on your specific medications. Enter your drugs, your pharmacy, and your dosages — it will calculate your estimated annual cost for every plan available in your area.
6. Look Into Pharmaceutical Manufacturer Assistance Programs
Most major drug manufacturers have Patient Assistance Programs (PAPs) that provide medications free or at very low cost to qualifying patients — including people who have Medicare but still can't afford their medications.
The best place to start: NeedyMeds.org. This free database lists thousands of assistance programs and the income requirements for each. If you're taking a brand-name medication that costs more than $200/month, this is worth investigating.
7. Consider a State Pharmaceutical Assistance Program (SPAP)
Many states run their own programs to help seniors pay for prescription drugs. These programs are separate from federal Medicare, and some will pay your Part D premium entirely.
States with notable programs include New York, Pennsylvania, New Jersey, Illinois, Delaware, Massachusetts, and Connecticut — but programs exist in many others. Search "[your state] SPAP Medicare" or visit your state health department's website.
Quick Reference Checklist
- Ask your doctor about generic or therapeutic alternatives
- Check GoodRx price before filling every prescription
- Apply for Extra Help at SSA.gov if your income qualifies
- Use mail-order pharmacy for 90-day supplies of maintenance medications
- Compare Part D plans every October 15 – December 7
- Search NeedyMeds.org for manufacturer assistance programs
- Look up your state's pharmaceutical assistance program