Prescription Insurance

prescription.jpg

Are your prescription drugs covered by your health insurance plan? Supplemental prescription insurance can protect you from the high cost of medications.

Health Insurance Plans Often Don't Cover Prescription Medications

Does your health insurance policy cover prescription medications? Does your health insurance plan just cover some medicine, or have a severe limit on your coverage of prescription medicine? Any health insurance policy without prescription drug coverage leaves you unprotected from the high cost of medications.

The cost of prescription medication continues to climb, and health insurance companies are trying to control their drug costs. To avoid these costs, many health insurance policies do not include coverage for prescriptions. On the other hand, some health insurance companies do offer a variety of prescription insurance plans. Prescription insurance plans that come with regular policies through major medical insurance companies can be expensive. Other, more specialized prescription insurance companies offer more affordable coverage for medications as a supplement to a regular policy.

Benefits of Prescription Insurance

There are many prescription insurance plans that provide a variety drug coverage. These supplemental prescription policies can have several benefits. They can:

  • Cover specialized medications.
  • Save you money with long-term prescriptions.
  • Reduce the cost of all medications, even generic drugs.
  • Decrease out-of-pocket and co-pay expenses.
  • Save you time and money with a mail order option.

Finding the Right Prescription Insurance

What's the right prescription insurance for you? With the help of your doctor, clearly determine what kinds of prescription medications you need covered. Once you have a clear understanding of the types of drugs you need covered, consider your budget. There is a wide range of prescription insurance plans with an equally wide range of pricing. Be sure to find the right balance between coverage and costs.

The list of medications that your health insurance company will cover is called a formulary. The drugs in a formulary generally fall into these categories:

  • Generic drugs - the least expensive.
  • Preferred (brand name) drugs - priced in the middle.
  • Non-preferred brand-name drugs - the most expensive.

Health insurance policies that cover prescription medications organize drugs by category, and usually determine the amount of coverage you will receive by those categories. Understanding prescription drug categories with your doctor will help you decide on the best prescription insurance plan for you.

Related Articles

Source: Neighborhood Link
Search All Articles
Related Articles
Adult Literacy Skills
Adultlit_thDiscussion of Adult Education Progarams with great resources...
Floods
Areyouready_015_thHow to be prepared for a flood and also what to do during and after a flood.
EPA's Targeted Watershed Grants Program
Susquhana_thThe EPA watershed grant program
Emergency Planning Checklists
Yellowlist_thChecklist planning help for all types of emergencies

More...
Most Popular
First-Time Home Buyers: What To Do Before You Begin To Look
FamilysmHere are a few tips of how to be better prepared for the home-buying process.
Retirement Planning: How much do I need to save?
PiggybanksmThis article provides general estimates to help you determine how much you need to save for retirement
Human Pandemic - Government Food Services
PandemicthumbResponding to a human pandemic will likely require communities to try and keep people from gathering in groups.
What Is The Value Of A Homeowner Association?
Austin_thHow the HOA can protect property values and maintain standards

More...

Zip Code Profiler

Neighborhoods, Home Values, Schools, City & State Data, Sex Offender Lists, more.

Instant Home Value!