5 Pharmacy Benefit Insights to Share with Employees

5 Pharmacy Benefit Insights to Share with Employees

Decision Support

The last thing an HR professional wants is unhappy plan members when their prescription prices suddenly change or are no longer covered.

Here are five suggestions to share with employees during this time of year. These are simple ideas to keep in mind to maximize the member experience:

  • Location, Location, Location – Not all pharmacies are alike, especially when it comes to prescription prices. We have learned that typically, locally owned pharmacies and grocery stores usually have the lowest drug prices. Check your plan to see if they provide a list of low cost pharmacies.
  • It pays to know your tiers – Copays used to be simple. Now, there are more tiers with certain medications having restrictions or limitations. Before you fill a prescription, know what tier your medications falls under to avoid surprises at the pharmacy. Discuss with your physician your prescription plan to minimize the cost. Doctors may need to be educated about the financial impact the medication may have on your pocket book.
  • Is there an app for that? – There are apps now that provide Rx discounts like Clever Rx, Good Rx and Single Care. We also have apps that have tele-medicine and health plan advocates available 24/7. Using these apps save both employee and the employer money.
  • Don’t miss out on savings – In addition to the popular discount Rx apps mentioned above, check out your drugs manufacturer website for coupons and other financial assistance programs.
  • New Year means new deductible and out of pocket expenses – January 1 is just around the corner, which means most health plan deductible and out of pocket limits reset. Knowing how much of your deductible has been met is important if you are planning to have a procedure completed this year or wait until next year. Rx copays apply to the out of pocket maximum which means if you have reach that amount, your Rx copays disappear for the balance this calendar year. You may consider refilling if possible, before the end of the year.

Arm yourself with the right information to minimize frustration and keep more of your money. Contact MBA to learn more on how to save on medications.