The PDA (Prescription Drug Assistance) New Mexico MedBank program aids residents of New Mexico in obtaining needed brand name prescription medications at an affordable rate or at no cost. This program is intended for low- to middle-income individuals of all ages who have no prescription drug insurance coverage or who do not have adequate insurance coverage.
MedBank does not itself provide financial assistance. Instead, it assists New Mexico residents in applying for assistance directly with pharmaceutical drug companies through the company’s prescription assistance programs.
Did You Know?
Approximately one-quarter of older adults either neglect to fill a prescription or fail to take doses of prescribed medication due to the cost of the needed medication.
Because financial assistance is provided by the pharmaceutical company, there are no set eligibility guidelines for MedBank (other than to be a resident of New Mexico), as each company has its own guidelines. Some eligibility criteria you may encounter could include:
- Resident of New Mexico.
- Low- to middle-income bracket.
- Unable to afford medications, insurance or copays.
- No insurance coverage for prescription drugs or be underinsured.
- Prescription medications needed to treat conditions that are long term, such as Alzheimer’s, Parkinson’s disease, COPD, osteoporosis, or kidney disease.
- Not eligible for, or currently enrolled in, another prescription medication assistance program. Exceptions may apply for those who have reached the cap on their insurance for prescription drugs.
- Cooperation from the individual’s doctor will likely be needed in order to sign appropriate paperwork, write prescriptions and, sometimes, to receive the medication for the eligible individual.
Benefits and Services
Benefits will vary depending on the pharmaceutical company. Low- to middle-income seniors can expect to receive brand name prescription medications at either no cost or via a small, affordable co-payment. Each pharmaceutical company has its own set of guidelines on available assistance, which is most often determined by income.
How to Apply / Learn More
For more information about the PDA New Mexico MedBank Program or to apply, visit the New Mexico Aging and Long-Term Services Department website here or contact them at 505-476-4846 or 800-432-2080. A program flyer can be downloaded below.