Xanax (Alprazolam) Medicare Coverage

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.

How much does Alprazolam cost with Medicare?

Alprazolam 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 Alprazolam?

According to GoodRx, 93% of Medicare Advantage plans and Medicare Part D plans covered Alprazolam, the generic form of Xanax, in 2023.¹

• Medicare Advantage plans or Part D plans that cover Alprazolam 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 2024 Medicare Advantage plans include 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 Alprazolam. 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

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.