Why is this important? Whether you are shopping for an individual plan or about to become effective on your company's health plan, if you are taking a particular drug it is important for you to know how your insurance plan will pay for, or "cover" that drug. Many companies require prior authorization for a non-formulary drug and some will not cover the cost at all.

How much does my prescription really cost?

If you don't care, you should. Drug costs represent one of the biggest costs in medical care today. With so many new drugs entering the market daily, and with huge R&D costs for the pharmaceutical companies to recoup, it's no wonder that prices are soaring. While we certainly enjoy the benefit of new drugs which can truly help the quality and longevity of our lives, it is crucial that we understand what these drugs actually cost when we shell out that $10 or $15 drug co-pay at the pharmacy counter. It's no fun to tell our clients about the increase in premium for their plan every year and we advocate being proactive consumers. If it's possible to make a generic substitution, do it! To find out how much your prescription costs and to see if there is a generic equivalent, click on this link:

Drugstore.com Prescription Price Quotations

What happens when my plan does not pay for prescription drugs?

Most of the time, our clients have either group or individual health insurance plans that include co-pays for prescription drugs. The above information is meant to educate you on how best to use those plans with respect to your prescription drugs.

However, sometimes our over-65 clients have Medicare only (Parts A & B) or a supplement plan that either does not pay for prescription drugs or pays only a limited yearly amount. In these cases, it becomes more important than ever to "shop around."

As always, if you have any questions about your plan, feel free to contact us!