Finasteride Medicare Coverage

• by Christian Worstell
• October 31, 2023
• Reviewed by John Krahnert

Finasteride is a medication typically used to treat male pattern hair loss and benign prostatic hyperplasia (BPH). The brand name equivalents of Finasteride include Propecia and Proscar.

Finasteride is typically taken once daily. Finasteride increases testosterone levels to help with hair loss and BPH symptoms.

Finasteride is typically well tolerated, but some side effects include dizziness, fatigue and a decreased interest in sex.

How much does Finasteride cost with Medicare?

Finasteride coverage and costs may vary based on the specific plan you have, as well as what coverage stage you're in.

Contact your plan carrier or consult your plan formulary for more cost information.

Does Medicare cover Finasteride?

According to GoodRx, Medicare Advantage plans and Medicare Part D plans did not typically cover Finasteride in 2023.¹

• Medicare Advantage plans or Part D plans that cover drugs include copay amounts that can range widely from one plan to another. Plan members may also be responsible for meeting a deductible before the plan’s drug coverage kicks in.
  
  
• Medicare Advantage plans that offer prescription drug coverage are called Medicare Advantage Prescription Drug Plans (MA-PD). 89% of 2023 Medicare Advantage plans included prescription drug coverage.²
  
  
• Medicare prescription drugs plans each have their own formulary, or drug list, that details what prescription drugs are covered by the plan and how they are covered.

Drug coverage may vary based on plan availability. You may be able to find Medicare Advantage plan options in your area that cover prescription drugs. We represent carriers such as Humana, UnitedHealthcare^®, Anthem Blue Cross and Blue Shield, Aetna, Cigna Healthcare, Wellcare, or Kaiser Permanente.

You can also compare Part D prescription drug plans available where you live and enroll in a Medicare prescription drug plan online when you visit MyRxPlans.com.

Additional information

Finasteride may take up to 3 months to see the full effect.

Finasteride is typically well tolerated, but you may notice symptoms such as a lump in the breast, breast pain, soreness, decreased mood or enlarged breasts (gynecomastia). If you notice any of these symptoms, talk to your doctor.

Finasteride has been shown to increase the risk of suicidal behavior in some people who take it. Talk to your doctor if you have thoughts of suicide or changes in mood or behavior.

This article is for informational purposes only. It is not healthcare advice, treatment, or diagnosis. It is not an endorsement of or recommendation for this medication. Speak to your doctor or healthcare provider about your specific healthcare needs, including your prescription medications. Only take medication as directed by your doctor.

Coverage and costs of prescription medications will vary by Medicare plan. Not all plans are available in all areas.

Written by Hayden Gharibyar, Pharm.D.

About the author

Christian Worstell is a senior Medicare and health insurance writer with MedicareAdvantage.com. He is also a licensed health insurance agent. Christian is well-known in the insurance industry for the thousands of educational articles he’s written, helping Americans better understand their health insurance and Medicare coverage.

Christian’s work as a Medicare expert has appeared in several top-tier and trade news outlets including Forbes, MarketWatch, WebMD and Yahoo! Finance.

Christian has written hundreds of articles for MedicareAvantage.com that teach Medicare beneficiaries the best practices for navigating Medicare. His articles are read by thousands of older Americans each month. By better understanding their health care coverage, readers may hopefully learn how to limit their out-of-pocket Medicare spending and access quality medical care.

Christian’s passion for his role stems from his desire to make a difference in the senior community. He strongly believes that the more beneficiaries know about their Medicare coverage, the better their overall health and wellness is as a result.

A current resident of Raleigh, Christian is a graduate of Shippensburg University with a bachelor’s degree in journalism.

If you’re a member of the media looking to connect with Christian, please don’t hesitate to email our public relations team at Mike@tzhealthmedia.com.

 

 

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