Your prescription drugs don't have to be “One Size Fits All.” Compounded medications can offer flexibility and specialization when taking your prescriptions. But can they fit into your Medicare budget? Or do you have to pay for compounded medications out-of-pocket? Read on as we take a look at compounded medications on Medicare.
Note: This content is for informational purposes only. You should consult with your doctor before taking any medication, including compounded medications.
Compounded medications are what they sound like. They are drugs mixed and prepared specifically for you at a compound pharmacy. These special medications allow for greater customization in your healthcare, as these combinations can be tailor-made. According to GoodRx
Dermatologists
Pain specialists
Podiatrists
Endocrinologists
Gastroenterologists
And more
While there are many useful applications for compounding medications, there are also some potential drawbacks.
The answer to this question will depend on the specific medications you are using and the dosage. Generally, Medicare
The best way to determine if your Medicare Part D plan covers compounded medications is to review your plan's formulary, which is a list of covered medications. You can find this information on your plan's website or by calling your plan's customer service number.
When you review the formulary, look for a section that specifically lists compounded medications. If you do not see this section, you can also search for the specific ingredients in your compounded medication to see if they are covered under your plan.
It is also important to note that even if a compounded medication is covered under your plan, it may require prior authorization or have other restrictions, such as quantity limits or step therapy requirements. So, be sure to carefully review your plan's details and contact your plan if you have any questions or concerns.
If you are interested in or have already done additional research on compounded medications and Medicare, you might have seen an HHS report Part B of Medicare
At Fair Square, we want to empower you to be your own best advocate. With that in mind, here are a few tips that Medicare
Check with your Medicare Part D plan
Consider alternative treatments: In some cases, there may be alternative treatments available that are covered by Medicare and do not require compounding. Talk to your healthcare provider to see if there are other options available for your condition.
Shop around for the best price: If you do need a compounded medication, shop around at different pharmacies to find the best price. Some pharmacies may charge more for compounded medications than others.
Ask for a cash price: In some cases, it may be less expensive to pay for a compounded medication out-of-pocket rather than using your insurance. Ask the pharmacy for a cash price and compare it to what you would pay with your insurance.
Consider using a compounding pharmacy: While Medicare does not cover compounded medications, some compounding pharmacies offer discounts or payment plans for patients who are paying out of pocket. Ask your healthcare provider or pharmacist for recommendations on compounding pharmacies in your area.
It is important to note that the safety and effectiveness of compounded medications may vary as they are not regulated by the FDA. It is important to discuss the risks and benefits of compounded medications with your healthcare provider before using them.
How do you know if your medication is compounded?
Ask your healthcare provider. They will be able to talk with you about the specifics of the medication you’re taking, and what your options are if you are interested in making a change.
What is a compounding pharmacy?
A compounding pharmacy is different from your average pharmacy. They can customize medications for you and for others who are looking for a more specific medication. You can do internet research on compounding pharmacies in your area, and speak with your Medicare plan provider to see if they are covered under your Part D plan.
What are some alternatives to compounded medications that are covered by Medicare?
There may be alternative treatments available that are covered by Medicare and do not require compounding. Talk to your healthcare provider to see if there are other options available for your condition. For example, there may be FDA-approved medications or medical devices that can be used instead of compounded medications.
How do I talk to my healthcare provider about compounded medications?
It's important to have an open and honest conversation with your healthcare provider about compounded medications. You can start by asking if there are any FDA-approved medications or treatments available for your condition. If your healthcare provider suggests a compounded medication, you can ask about the risks and benefits, as well as any potential alternatives. It's important to make sure you understand why the compounded medication is being recommended and how it will be prepared.
How do I know if a compounded medication is the right choice for my health condition?
The decision to use a compounded medication should be made in consultation with your healthcare provider. Your healthcare provider can help determine if a compounded medication is necessary and appropriate for your health condition. It's important to consider the risks and benefits of using a compounded medication, as well as any potential alternatives. Your healthcare provider can also help you understand the preparation and administration of the compounded medication, as well as any potential side effects or interactions with other medications you may be taking. Ultimately, the decision to use a compounded medication should be based on your individual healthcare needs and goals.
In conclusion, compounded medications can offer flexibility and specialization when taking your prescriptions. However, when it comes to Medicare coverage, the answer is not so straightforward. Generally, Medicare will not cover compounded medications, but there might be some exceptions if the drugs are listed on your Part D plan's formulary. It is important to approach compounded medications with caution as they may not be FDA-approved and can come with risks to your health and budget. Always consult with your doctor before taking any medication, including compounded medications, and follow these tips to save money on compounded medications while ensuring your safety and well-being. For all of your Medicare questions Fair Square
Does Medicare Pay for Bunion Surgery?
Nov 29, 2022
Finding the Best Vision Plans for Seniors
Jan 6, 2023
Does Medicare Cover the Urolift Procedure?
Dec 6, 2022
How to Deduct Medicare Expenses from Your Taxes
Dec 28, 2022
How Do I Sign up for Medicare? A Simple How-To Guide For You
Apr 8, 2022
Do Medicare Supplement Plans Cover Dental and Vision?
Dec 8, 2022
Finding the Best Dental Plans for Seniors
Jan 4, 2023
Can Medicare Advantage Plans be Used Out of State?
Jun 12, 2023
10 Top Medicare Supplement (Medigap) Companies for 2025
Jul 14, 2025
Does Medicare Cover Oxybutynin?
Dec 2, 2022
Why Is Medicare So Confusing?
Apr 19, 2023
Does Medicare Cover Xiafaxan?
Jan 19, 2023
Does Medicare Cover Nuedexta?
Nov 30, 2022
Can I Choose Marketplace Coverage Instead of Medicare?
May 2, 2023
How to Choose a Medigap Plan
Jan 10, 2023
Turning 65 and Thinking of Keeping COBRA? Here’s Why It Usually Backfires
Jul 15, 2025
Does Medicare Cover Kyphoplasty?
Dec 9, 2022
Does Medicare cover Deviated Septum Surgery?
Nov 18, 2022
13 Best Ways for Seniors to Stay Active in Indianapolis
13 Best Ways for Seniors to Stay Active in Philadelphia
13 Best Ways for Seniors to Stay Active in Phoenix
14 Best Ways for Seniors to Stay Active in Nashville
14 Best Ways to Stay Active in Charlotte
20 Questions to Ask Your Medicare Agent
2024 Cost of Living Adjustment
2025 Medicare Price Changes
Are Medicare Advantage Plans Bad?
Can I Change My Primary Care Provider with an Advantage Plan?
Can I Have Two Primary Care Physicians?
Can I switch From Medicare Advantage to Medigap?
Can I Use Medicare Part D at Any Pharmacy?
Do I Need to Renew My Medicare?
Does Medicare Cover Bariatric Surgery?
Does Medicare Cover Bladder Sling Surgery?
Does Medicare Cover Boniva?
Does Medicare Cover Cala Trio?
Does Medicare Cover Cataract Surgery?
Does Medicare Cover Chiropractic Visits?
Does Medicare Cover COVID Tests?
Does Medicare Cover Diabetic Eye Exams?
Does Medicare Cover Disposable Underwear?
Does Medicare Cover Hoarding Cleanup?
Does Medicare Cover Home Heart Monitors?
Does Medicare Cover Incontinence Supplies?
Does Medicare Cover Inspire for Sleep Apnea?
Does Medicare Cover Ketamine Infusion for Depression?
Does Medicare Cover Lipoma Removal?
Does Medicare Cover LVAD Surgery?
Does Medicare Cover Physicals & Blood Work?
Does Medicare Cover Piqray?
Does Medicare Cover RSV Vaccines?
Does Medicare Cover SI Joint Fusion?
Does Medicare Cover Stair Lifts?
Does Medicare Cover TENS Units?
Does Medicare Cover Urodynamic Testing?
Does Medicare Have Limitations on Hospital Stays?
Does Medicare Pay for Allergy Shots?
Does Retiring at Age 62 Make Me Eligible for Medicare?
Explaining IRMAA on Medicare
Explaining the Different Enrollment Periods for Medicare
Fair Square Client Newsletter: AEP Edition
Gap Health Insurance: The Secret Sidekick to Your High-Deductible Plan
Health Savings Accounts (HSAs) and Medicare
How Can I Get a Replacement Medicare Card?
How Do Medigap Premiums Vary?
How Does the End of the COVID-19 Public Health Emergency Affect Your Medicare?
How Much Does a Medicare Coach Cost?
How Much Does Medicare Cost?
How Much Does Medicare Part B Cost in 2025?
How Much Does Rexulti Cost with Medicare?
How Much Does Xeljanz Cost with Medicare?
How Often Can I Change Medicare Plans?
How to Become a Medicare Agent
Is Botox Covered by Medicare?
Is Fair Square Medicare Legitimate?
Is PAE Covered by Medicare?
Is the Shingles Vaccine Covered by Medicare?
Medicare & Ozempic
Medicare Consulting Services
Medicare Supplement Plans for Low-Income Seniors
Seeing the Value in Fair Square
Should You Work With A Remote Medicare Agent?
Top 10 Physical Therapy Clinics in San Diego
What Are Medicare Part B Excess Charges?
What Happens to Unused Medicare Set-Aside Funds?
What is Plan J?
What is the 8-Minute Rule on Medicare?
What Is the Medicare Birthday Rule in Nevada?
When to Choose Medicare Advantage over Medicare Supplement
Which Medigap Policies Provide Coverage for Long-Term Care?
Get the Fair Square Bulletin
Medicare savings tips, helpful guides, and more.
Virgil Insurance Agency, LLC (DBA Fair Square Medicare) and www.fairsquaremedicare.com are privately owned and operated by Help Button Inc. Medicare supplement insurance plans are not connected with or endorsed by the U.S. government or the federal Medicare program. This is a solicitation of insurance. A licensed agent/producer may contact you. Medicare Supplement insurance is available to those age 65 and older enrolled in Medicare Parts A and B and, in some states, to those under age 65 eligible for Medicare due to disability or End-Stage Renal disease. Virgil Insurance Agency is a licensed and certified representative of Medicare Advantage HMO, HMO SNP, PPO, PPO SNP and PFFS organizations and stand-alone PDP prescription drug plans. Each of the organizations we represent has a Medicare contract. Enrollment in any plan depends on contract renewal. The plans we represent do not discriminate on the basis of race, color, national origin, age, disability, or sex. Plan availability varies by region and state. For a complete list of available plans please contact 1-800-MEDICARE (TTY users should call 1-877-486-2048), 24 hours a day/7 days a week or consult www.medicare.gov. © 2025 Help Button Inc
We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options.
MULTIPLAN_FairSquareMedicare_01062022_M