4 Steps to Make the Most of Your Drug Benefits

4 Steps to Make the Most of Your Drug Benefits

Drug Benefits Greenwood Village, COThese tips can help to make sure that you are taking full advantage of your drug plan.

When filling a prescription, convenience and cost are most likely at the top of your priority list. Understanding exactly what is covered on your pharmacy plan will ensure you don’t have to deal with any sticker shock when it comes time to pay for your medication. Use this guide to drug benefits to make sure you are getting the most out of your benefits plan.

  1. Know what drugs are covered – most health insurance plans will have a list of prescription drugs that are covered within the policy, known as a formulary. The formulary will provide different levels of coverage based on the effectiveness of the drug, its cost, and other factors. Make sure to check each year since most insurance companies will change their formularies year to year.
  2. Consider mail order options – if you regularly take any medications, you may be able to save money by getting them through the mail. Mail-order medications are very convenient and can help to save you money.
  3. Know the cost before you head to the pharmacy – your health insurance plan may give you access to online tools that will tell you how much a drug will cost before you leave your house. If you can’t find the information online, call your health insurance customer service to ask.
  4. Check for steps – your policy may require that you try a less expensive prescription at first. If the less expensive brand does not work well, you will then move up price steps until you find the right medication.

For more information on your drug benefits and all your health insurance needs to ensure you have the right amount of coverage, contact Employee Benefit Plans Inc. in Greenwood Village, Colorado. We can help you find the right policy at the right price.