With the rising prices of prescription drugs, several drug coverage programs have emerged. Even then, the cost of coverage concerns most people. Nonetheless, these drug coverage programs increase savings while putting your health first. Over the years, prices of certain drugs have increased rapidly. For example, the average price for cancer drugs has increased by more than ten times from the year 2000 to 2012. Here are some of the guidelines that may help you save on prescription drugs while putting your health first:
When you receive a drug prescription, negotiate with multiple pharmacies, even for the generics. Most likely, neighborhood pharmacies have autonomy to lower prices than chain stores. Moreover, if you do not have an insurance cover, research extensively on the internet while seeking referrals to find a good insurance company. For example, Costco is the US’ leading provider of quality, comprehensive drug insurance at the lowest price of chain stores on average. In fact, even non-members of Costco can buy at its pharmacy. Finally, ask your doctor for a three-month prescription instead of one month to avoid trips to the pharmacy.
File an appeal with your insurer
Assuming that your doctor prescribed a medication not covered under your health plan, appeal with your insurer. Often, the appeal includes medically necessary drugs not on your plan if your condition warrants their use. However, if your appeal is rejected, request for a free, independent medical reviewer from your state regulator. Importantly, your insurer must specify the grounds of rejecting your appeal on the health plan denial letter. Since the process of appealing with your insurer may be tedious, work with your doctor in helping prove your medical necessity.
Look for financial assistance
Pharmaceutical corporations and organizations offer multiple financial assistance programs for drug coverage. A good example is NeedyMeds, a nonprofit organization that connects people with financial aid. A recent study indicates that pharmaceutical companies donate billions of dollars in drugs to the needy every year. Nonetheless, their funding is for brand-name drugs that often lack generic equivalent. In fact, some pharmaceutical companies have generous thresholds even for the middle-class families. Financial aid programs eligibility requirements are based on three aspects:
• Nationality and immigration status
• Some help only the uninsured
• Some programs are disease or diagnosis specific
However, all financial aid programs require a detailed explanation from the doctor who prescribed the medication. Therefore, if you have drug coverage that you cannot afford to pay, look for a program that meets your eligibility requirements.
Use drug discount cards
There are two categories of drug discount cards. The first discount is for specific drugs offered by pharmaceutical corporations while the other is for multiple drugs provided by charitable organizations such as Costco, NeedyMed, and AARP. However, you cannot use these discount cards in conjunction with government programs such as Medicare.
Choose an insurance company that meets your health needs
The simplest way to limit your spending on drugs is choosing an insurance plan that covers your situation. Experts recommend people with chronic diseases or with a lot of medications to avoid high-deductible plans. An example of a high-deductible plan is California’s bronze level plan. However, according to Liz Helms, the CEO of California Chronic Care Coalition, bronze level plan suits those that prefer paying higher premiums than have high out-of-pocket expenditure.