Xanax® Medicare Coverage

Xanax®
Chemical name: Alprazolam

Typical dosage: 0.5mg

Typical type: Tablet1

Xanax® is a medication typically used to treat anxiety and panic disorders. Xanax is available as brand and generic and is an oral tablet.

Xanax is a schedule-IV prescription medication that contains the active ingredient Alprazolam. Xanax is typically taken one to three times daily depending on the type of Xanax you’re taking and what you are taking it for.

Xanax is a benzodiazepine medication that creates a calming effect when taken.

The major side effects of Xanax include feeling sleepy or dizzy, dry mouth, increased or decreased hunger, upset stomach, constipation, sexual dysfunction, feeling tired or weak and weight gain or loss.

Does Medicare cover Xanax?

Yes! 95% of Medicare Advantage plans and Medicare Part D plans cover Xanax.1

  • Medicare Advantage plans that offer prescription drug coverage are called Medicare Advantage Prescription Drug Plans (MA-PD). Most Medicare Advantage beneficiaries (88 percent) are enrolled in MA-PDs.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 Xanax.

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Average costs for Xanax with Medicare drug coverage1

Your copay and deductible costs for any prescription drug can vary depending on what coverage stage you’re in.

Deductible stage Typical copay stage
Your deductible is the amount of money you must spend on covered drugs before your Medicare drug coverage starts paying its share of costs.

In the deductible stage, you’re responsible for the full cost of your prescription drugs.

Some Medicare prescription drug plans have a $0 deductible. Medicare drug plans cannot have a deductible more than $415 in 2019.
After you meet your Part D deductible, you enter the initial coverage period.

During this phase (the typical copay stage), you pay a copayment (flat fee) or coinsurance (percentage) for your covered medications.
$2 – $391 $Free – $362

Additional information

Xanax is a schedule-IV, controlled medication due to its potential for abuse.

Xanax can be habit-forming with long-term use. You can also develop a tolerance to Xanax if you are taking high doses.

Tolerance means the same dosage of medication may not work as well. If this happens, do not take more medication than you have been prescribed.

Avoid driving and other tasks that require your full attention until you see how Xanax affects you.

Avoid drinking alcohol while taking Xanax.

Use of Xanax with pain medications such as Norco or Percocet can result in extreme sedation, respiratory depression, coma or death.

If you are taking Xanax on a regular schedule, do not stop taking it without the advice of a doctor. Withdrawal symptoms can occur if the drug is stopped abruptly, including seizures.

Xanax has multiple dosage forms including an oral concentrate, oral tablet, oral dissolvable tablet and an extended release oral tablet.

 

 

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.