- Take advantage of a Flexible Spending Arrangement (FSA), if offered by your employer
- Look into the medical tax deduction
- File an amended tax return retroactively
- Spend the time to thoroughly analyze insurance plans
- Develop friendly relationships with the specialists you consult as well as your insurer
- Seek out an insurance assistance program
- Investigate patient assistance programs designed to help the uninsured or underinsured with medication costs
To read about each strategy in full detail, visit the ADDitude site.
I would like to add that I have personal experience with strategy #7. My husband recently started a new job and we have to wait the usual 90 days before we will have insurance coverage. I recently visited my local pharmacy and was told my son's Focalin medication would be $180 for a 30 day supply. We can not possibly afford that amount. However, it is crucial that my son have is medication daily. I began to scour the Internet for a solution. I came across a website entitled Partnership for Prescription Assistance. It is simple to use. They require very little information: medication name, age, state, zip, etc. After you input the required information you will be given a list of programs that you may qualify for. I qualified for several but chose yourRXcard.com. I typed in my son's name and the site immediately generated a prescription card for me to print. It even gave me a list of local, participating pharmacies and included how much the medication would cost by using their discount card. I was quite skeptical but printed it anyway. I went straight to my pharmacy, with card in hand, to fill my son's prescription. I was astounded at the result. Instantly, with no cost whatsoever, the medication that was $180 only one hour before, was now $133. Granted that is still a huge amount, but is way better then $180. I saved almost $50 by simply printing out one single sheet of paper.
If you do not currently have a prescription card and your child takes medication, I can highly recommend yourRXcard.com. It's amazing!
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