7 ways to save on your prescriptions with Medicare Part D

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7 ways to save on your prescriptions with Medicare Part D

Medicare Part D provides coverage for prescription medications. While Part D helps pay for a variety of brand-name and generic medications, as well as certain vaccines and medical supplies, some enrollees still face high prescription medication costs. This can happen even with new reforms — including the $2,000 cap on annual out-of-pocket costs for prescription medications covered by your Part D plan, which started in 2025 — and will increase to $2,100 in 2026.

If you are still worried about managing your medication costs, the good news is that there are several ways to save. GoodRx highlights programs and tools that can help you lower what you pay for the medications you need.

Key takeaways:

You may be able to save on prescription medications covered by Medicare Part D by checking your eligibility for state-funded resources or the Medicare Extra Help program.
There are also patient assistance programs through manufacturers that offer free or low-cost prescription medications to Medicare enrollees.

1. Check state-funded resources

Depending on where you live, your state may offer programs to help you navigate prescription medication costs. A good place to start is your local Area Agency on Aging, which you can find through the Eldercare Locator. These agencies can connect you with Medicare counseling and help you find the best Medicare plan for the coverage you need.

Some states even have their own cost-saving programs for older adults. For example, Pennsylvania runs PACE and PACENET. These programs help eligible residents get prescription medications at reduced costs.

You can also find out if your state has a State Pharmaceutical Assistance Program by using Medicare’s search tool. These programs are state-run and help qualifying residents pay for prescription medications.

2. See if you qualify for the Medicare Extra Help program

The Medicare Extra Help/Low-Income Subsidy program is a federally funded benefit for people covered under a Medicare Part D plan. It helps reduce enrollees’ out-of-pocket costs by lowering or eliminating monthly premiums, deductibles, and copays. To qualify, your income and assets must be under certain limits.

Most people who are eligible for Extra Help benefits receive significant savings on Part D prescription medication costs. These savings include:

No monthly premiums for Medicare Part D
No Medicare Part D deductible
Low copays for prescription medications

In 2026, Extra Help participants will be subject to a copay of $12.65 or less for brand-name prescription medications and $5.10 or less for generic medications at participating pharmacies. However, participants who are enrolled in both Medicare and Medicaid and have an income less than or equal to 100% of the federal poverty level (FPL) can get their copays reduced even further. In 2026, participants who meet these requirements will pay:

$4.90 per brand-name medication
$1.60 per generic medication

You automatically qualify for and are enrolled in Extra Help if you meet certain eligibility criteria. If you don’t automatically qualify, you can complete an online application through the U.S. Social Security Administration. You can also call 1-800-772-1213 (TTY 1-800-325-0778) to apply over the phone.

3. Learn more about patient assistance programs

Patient assistance programs (PAPs) offer free or low-cost medications to uninsured and low-income individuals. These programs, which are usually run by private pharmaceutical companies or nonprofit organizations, primarily help with brand-name medications. You must meet certain qualifications and complete paperwork to receive savings from PAPs. However, some PAPs exclude Medicare recipients.

One example of a PAP that does help Medicare recipients is the Novo Nordisk Patient Assistance Program, which provides the manufacturer’s medications free of charge to those who qualify. The program includes many diabetes medications, such as Ozempic (semaglutide) and Rybelsus (semaglutide).

To qualify for the program, you must:

Be a U.S. citizen or legal resident
Have a total household income at or below 400% of the FPL
Have Medicare or be uninsured
Not be enrolled in Medicaid, Medicare Extra Help, U.S. Department of Veterans Affairs (VA) benefits, or other federal, state, or government assistance programs

However, eligibility can change from year to year. For instance, beginning in 2026, Medicare Part D beneficiaries will no longer be able to receive Ozempic through this program.

You can generally apply for PAPs online, by mail, or by fax. You will likely have to include proof of income, tax documents, and a form filled out by your prescriber with your application. You can also use Medicare’s Pharmaceutical Assistance Program finder to see if there are state or manufacturer assistance programs available for your prescription medications.

4. Opt for generic prescription medications when possible

Switching to generic prescription medications is another way to lower what you pay for your medications with Part D. FDA-approved generic medications are required to have the same active ingredients and meet the same safety standards as brand-name medications. But generic medications can typically cost 80% to 85% less than brand-name medications, which can lead to significant savings.

Part D plans categorize medications into different formulary tiers, and prescription medications in lower tiers generally have lower copays. Generic medications are typically placed in lower tiers, often Tier 1. This means that what you pay out of pocket for a generic medication is generally less than what you pay for a brand-name medication in a higher tier.

5. Consider the Medicare Prescription Payment Plan

While not technically a savings option, the Medicare Prescription Payment Plan is a new program that can help make paying for medications more manageable. The program began in 2025 and is available to anyone with Part D coverage, including people enrolled in Medicare Advantage plans that offer prescription medication coverage.

Here’s how it works: Instead of paying your full prescription costs up front at the pharmacy, your plan spreads what you owe into monthly payments throughout the calendar year. This can be especially helpful if you take high-cost medications or if your out-of-pocket costs come all at once at the beginning of the year.

You’ll still need to pay your Part D plan premium if you have one, but this option can help you better manage your monthly budget. To get the most benefit, sign up early in the calendar year, as this gives you more months throughout the year to spread out your costs. Contact your insurer directly to sign up.

6. Compare Medicare plans before enrolling

Medicare open enrollment, which takes place every year from Oct. 15 to Dec. 7, is your chance to review your coverage and find the best plan for your prescription medication needs. Plan costs and coverage details can change each year, so it’s a good idea to check whether a different plan might cover your medications at a lower cost.

To compare plans:

Make a list of all your medications and what dosages you take.
Visit Medicare’s plan finder tool.
Enter the names of your prescription medications to see which plans offer the best coverage.
Look at premiums, deductibles, and medication costs for each plan.
Check if your preferred pharmacy is in each plan’s network.

Spending some time comparing options could mean significant savings on your medications next year.

7. Choose preferred in-network Medicare pharmacies

Your medication costs can vary depending on where you fill your prescription. Some Part D plans offer better pricing or lower copays when you use a preferred pharmacy in your plan’s network. Here’s what to do to make sure you’re using the most affordable pharmacy.

Check your plan’s pharmacy list: This will let you know which locations are considered preferred in-network.
Compare copays and prices: Take a look at different in-network pharmacies to review costs. Preferred options often have the lowest cost.
Switch your pharmacy if needed: If the savings are worth it, consider moving your prescriptions to a preferred pharmacy. This could be a good idea if you fill medications often.
Confirm pharmacy participation each year: A pharmacy’s preferred status can change when plans update their networks. Make sure that your pharmacy is considered preferred if that’s what you are looking for.

Frequently asked questions

How do you choose the most affordable Part D plan?

It depends on the medications you take. Start by listing all your prescriptions and entering them into Medicare’s Plan Finder. This will allow you to compare plans based on prescription medication coverage, copays, deductibles, and pharmacy options. Be sure to check whether your medications are on each plan’s formulary and whether your preferred pharmacy is considered preferred in-network, since that can lower your costs.

The bottom line

If you have Medicare Part D coverage, you have several ways to save on prescription medication costs. Begin by researching resources offered by your state or applying for the Medicare Extra Help program. You can also look into patient assistance programs or check to see if coupons can provide you with better prices for your medication. Finally, talk to your prescriber about switching to generic medications.

This story was produced by GoodRx and reviewed and distributed by Stacker.