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    Prescription Drug Costs and Health Reform: FAQ

    After picking a health plan, how can I save money on my medicines? continued...

    Set up a flexible-spending account (FSA). Some employers offer these. You determine an amount to come out of your paychecks over the year. That amount is taken out before taxes so you can use it to pay for health expenses, including medicines. There is a limit to how much money you can put in an FSA and any money not used during the year is forfeited, so plan carefully.

    Cost-sharing Reductions. If your income is below 250% of the federal poverty level ($29,425 for an individual or $60,625) and you buy a plan through the Marketplace, you may qualify for a reduction in the plan’s cost-sharing, which includes prescription drugs. You must enroll in certain plans to receive this benefit. Contact your state Marketplace to see if you qualify.

    Check out a prescription assistance program. Many health plans and some states have a prescription assistance program. Look on for your state's program. and are two additional resources for finding drug assistance programs. Most pharmaceutical companies and charities also offer similar programs.

    Medicare Extra Help Program. If you qualify for any of the Medicare Savings plans, such as Qualified Medicare Beneficiary (QMB) program, Specialized Low-income Medicare Beneficiary (SLMB) program, Qualified Individual (QI) program, or the Qualified Disabled and Working Individuals (QDWI) program, you will automatically qualify for help paying your prescription drugs. Check with your state’s Medicaid office to find out if you qualify for one of these program.

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