Prescription Plans
With the soaring prices of prescription drugs, consumers are desperately searching for some relief from overwhelming drug prices. Prescription plans provide one solution to costly prescriptions. Plans and discounts vary dramatically.
A Brief Overview on Prescription Plans
Most plans provide consumers with a discount card to present when purchasing prescriptions. Typically, an annual fee is charged for the plan.Cards are available from drug companies, chain drug stores, insurance companies, and non-profit organizations.
While plans vary so widely it is hard to generalize, there is usually a tiered fee which applies discounts differently depending on if you are purchasing brand name or generic drugs. Even on the same drug company card, the cost of one medicine may be discounted 30%, while a generic version may be cut by 50%. If your physician prescribes pills from several manufacturers, you may find that you need a handful of cards to get discounts on all your prescriptions. Finding a plan that works for you
Prescription plans are so numerous and so different that you must do cautious research when figuring out what discounts are offered by a plan, what drugs are covered under the plan and what fees the plan charges; figuring out the plan’s details, may be a challenge. Many HMO, POS, PPO and discount plans offer discounted prescriptions as part of their healthcare insurance. It is wise to always note whether a healthcare plan includes some type of prescription coverage.
Many plans only charge a small co-payment for prescriptions, assuming the medications are prescribed by network doctors and are deemed “medically necessary” under the terms of their plan administrators. If you do not have an insurance plan, or want to take prescription pills not covered by your current policy, prescription plans may prove a viable way to make high priced health affordable.
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Information on Other Types of Plans
PPO Plans
POS Plans
HMO Plans
Health Savings Accounts (HSA)
Self-Directed Health Plans (SDHP)
Discount Plans
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