Private Insurance: Dealing With High Co-Pays
It can be shocking when the pharmacy staff tells you your high co-pay. Makes you want to wait a few seconds just to see if the pharmacy staff were just kidding. A lot of times, private insurances tend to charge higher co-pays for medications, especially brand-name medication. In addition, you may have premiums or deductibles to pay before your co-pay is lowered. The plus side is that at least compared to Medicaid and Medicare patients, private insurances generally cover more medications.
Here is what you might be able to do to lower your co-pay:
If your prescription is Brand-Name:
1) Check with your physician to see if they have Manufacturer coupons for that medication or if they can request Manufacturer coupons for you. Manufacturer coupons are billed with your insurance, which will lower overall co-pay.
You can also check online for Manufacturer coupons, for example if you Google "crestor manufacturer coupon," you can find the Crestor Savings Card to print out and bring to your local pharmacy. Be careful with web-searches, make sure that the manufacturer coupon is legitimate which means it comes directly from the drug company's website.
2) Check with your physician to see if there are alternative drugs that are part of the same-class of medication as your Brand-name medication that are cheaper and could be just as effective for you. If your physician is not sure what alternatives to pick from, they can talk to your local pharmacist to decide.
*There are websites that offer "discount cards" which are not the same thing. Discount cards is meant for those who are uninsured and they are free discount cards because when you use it, third-party companies gain access to your personal information for marketing purposes.
If your prescription is Generic:
1) Your local pharmacy might have a prescription program where if you join, could lead to cheaper co-pays for generic drugs than your private-insurance. Chain pharmacies like Walgreens, Walmart, CVS, and Rite Aid have these programs. You can learn more about these programs either by calling your local pharmacy or going on the pharmacy's website. It is best to compare medication prices at each pharmacy and decide which one is best for you based on location and cost. Not all generics will be cheaper, so see what your insurance co-pay would be compared to the prices of the pharmacy prescription program.
2) You can also check with your physician for alternative drugs that are part of the same-class of medications as your Generic medication that could be cheaper and just as effective.
Here is what you might be able to do to lower your co-pay:
If your prescription is Brand-Name:
1) Check with your physician to see if they have Manufacturer coupons for that medication or if they can request Manufacturer coupons for you. Manufacturer coupons are billed with your insurance, which will lower overall co-pay.
You can also check online for Manufacturer coupons, for example if you Google "crestor manufacturer coupon," you can find the Crestor Savings Card to print out and bring to your local pharmacy. Be careful with web-searches, make sure that the manufacturer coupon is legitimate which means it comes directly from the drug company's website.
2) Check with your physician to see if there are alternative drugs that are part of the same-class of medication as your Brand-name medication that are cheaper and could be just as effective for you. If your physician is not sure what alternatives to pick from, they can talk to your local pharmacist to decide.
*There are websites that offer "discount cards" which are not the same thing. Discount cards is meant for those who are uninsured and they are free discount cards because when you use it, third-party companies gain access to your personal information for marketing purposes.
If your prescription is Generic:
1) Your local pharmacy might have a prescription program where if you join, could lead to cheaper co-pays for generic drugs than your private-insurance. Chain pharmacies like Walgreens, Walmart, CVS, and Rite Aid have these programs. You can learn more about these programs either by calling your local pharmacy or going on the pharmacy's website. It is best to compare medication prices at each pharmacy and decide which one is best for you based on location and cost. Not all generics will be cheaper, so see what your insurance co-pay would be compared to the prices of the pharmacy prescription program.
2) You can also check with your physician for alternative drugs that are part of the same-class of medications as your Generic medication that could be cheaper and just as effective.
Additional Resources On How To Save On Drug Costs
http://www.drugs.com/slideshow/top-10-ways-to-save-on-your-medication-costs-1027#slide-11
http://www.consumerreports.org/cro/magazine/2013/09/how-to-cut-drug-costs-save-on-prescription-drugs-consumer-reports/index.htm
http://www.webmd.com/healthy-aging/features/saving-money-on-your-prescription-drugs-good-and-bad-ideas
http://www.consumerreports.org/cro/magazine/2013/09/how-to-cut-drug-costs-save-on-prescription-drugs-consumer-reports/index.htm
http://www.webmd.com/healthy-aging/features/saving-money-on-your-prescription-drugs-good-and-bad-ideas
