7 Proven Ways to Save on Prescription Drug Costs in 2026

Why Prescription Costs Keep Rising

Even though Medicare has started negotiating some drug prices, many beneficiaries are still seeing higher out-of-pocket costs.

Here’s why:

• New, high-priced brand-name drugs are hitting the market.
• Inflation-based adjustments are increasing manufacturer prices.
• Pharmacy network changes within Part D plans can affect what you pay.

Even if your monthly premium doesn’t change, your copays and drug costs might.

That’s why it’s important to review your Part D plan each year between October 15 and December 7.

1. Compare Part D Plans Each Year

Go to Medicare.gov and enter your ZIP code and medications. You can instantly compare all available Part D plans in your area.

Doing this one step can save you $300–$800 per year—simply by switching to a plan that better matches your prescriptions.

2. Use a Preferred Pharmacy

Each Part D plan has preferred and standard pharmacies.

Using a preferred pharmacy in your plan’s network usually means lower copays—sometimes cutting your costs in half compared to a standard pharmacy.

3. Try Mail-Order Delivery

Most Part D plans offer a preferred mail-order pharmacy. Using mail order can:

• Reduce your copays
• Provide a 90-day supply for the price of two months
• Save you extra trips to the pharmacy

4. Compare Cash Prices with Discount Programs

Here’s something many people miss: sometimes it’s cheaper to pay cash than to use your Medicare drug plan.

Use these trusted options:

• GoodRx
• SingleCare
• Mark Cuban Cost Plus Drugs

These programs can save you big, especially on generics or drugs not covered by your plan.

Important: When you pay cash outside your Part D plan, those costs don’t count toward your deductible or out-of-pocket maximum.

5. Ask About Generics or Lower-Cost Alternatives

Always ask your doctor if there’s a generic or therapeutic equivalent for your medication.

Generic drugs can cost a fraction of the price and work just as effectively for most patients.

A simple switch could save you hundreds per year.

6. Apply for “Extra Help”

If your income or assets are limited, you may qualify for Medicare’s Extra Help program.

This program can lower your:

• Monthly premiums
• Deductibles
• Copays

You can apply online at ssa.gov/extrahelp. Many people qualify without realizing it.

7. Look into Manufacturer or State Assistance

If you take an expensive brand-name drug, check whether the manufacturer offers a patient assistance program.

These programs can cover part or all of your costs if you meet income guidelines.

Many states also have their own prescription assistance programs—especially for seniors.

About Buying Medications from Canada or Overseas

While some people look abroad for lower prices, there are serious risks and legal issues to consider.

• Under U.S. law, importing prescription drugs from another country is technically illegal, even if it’s the same brand.
• The FDA generally doesn’t enforce this rule for small, personal-use amounts (like a 90-day supply).
• However, you lose legal protections, and the medication may not meet U.S. safety standards.

If you’re exploring this route, talk to your doctor first. In most cases, U.S.-based options like Cost Plus Drugs can provide similar savings without the risks.

Also, remember that Medicare will not reimburse you for any prescriptions purchased outside the U.S. or outside your Part D plan.

The 2026 Medicare Drug Cap

Good news: In 2026, Medicare will limit your out-of-pocket costs for covered medications to $2,100 per year.

That means once you reach this limit, you’ll pay nothing more for covered prescriptions for the rest of the year.

Bottom Line

Even with the new drug cap, prices continue to rise—and small changes to your plan or pharmacy can have a big impact on your wallet.

Using the seven strategies above can help you save hundreds, even thousands per year—without risking your coverage.

Get Help Reviewing Your Prescription Coverage

We’ll help you:

• Compare 2026 Part D plan options
• Find preferred pharmacies and discount opportunities
• Make sure you’re not overpaying for your medications

Call 800-208-4974 to schedule your free Medicare Drug Plan review.

A quick review could save you more than you think—especially in 2026.