What You Should Know About Your Drug Benefits

Drug Benefits Denver, COThe more you know about your drug benefits, the more money you can save at the pharmacy.

When filling a prescription, chances are you look for convenience and cost. Knowing what to look for in your health insurance plan can help you avoid any sticker shock when you head to the pharmacy. Use these tips to give you a much better idea of what you will be paying for your next prescription.

  • Do some research – your health plan most likely has a formulary, which is a list of prescription drugs that are covered under your plan. Your formulary will provide various levels of coverage based off of the drug’s effectiveness, cost, and other considerations. Health care providers typically update their formularies at least once a year, so make sure to check it every 12 months.
  • Consider mail options – you may be able to save money on any medications that you take regularly by ordering them through the mail. Check with your plan to see if you can qualify for mail order options as a way to conveniently get any of your prescriptions.
  • Know before you go – see if your plan has online tools that will let you know about the cost of any prescriptions before you head to the pharmacy. If you can’t find any information online, call your health insurance customer service line.
  • Find out about steps – some health plans have steps that require you to try a less expensive medication for your condition. If that medication doesn’t work, you will then be prescribed slightly more expensive medications until you find one that works for your condition. While it may seem like a hassle, these steps can help to keep the cost your coverage lower.

For more information on the drug benefits provided by your health plan, contact Colorado Nonprofit Insurance Agency in Denver, Colorado.