Showing posts with label Prescription prices. Show all posts
Showing posts with label Prescription prices. Show all posts

Monday, October 24, 2016

2017 Brings Cuts in Covered Medications!

Open Enrollment is the one time of year when you may make changes to your health insurance plan (aside from a qualifying event). As you’re researching your options, there’s some important information about your drug coverage that you’ll want to know. In the coming year, many previously covered prescription drugs will be excluded by insurance companies. If any of your prescriptions are on the list of excluded drugs, this change will directly affect your wallet, leaving you to pay full price at the pharmacy.

There are two reasons that this is happening: Hyperinflation of prices and the availability of “biosimilars” — not identical but similar medications to an expensive drug. Hyperinflation is a term for drugs that have had massive price hikes. When a biosimilar alternative exists, these carriers refuse to cover the hyperinflated drug to force drug companies to lower their prices, which can ultimately save us, the consumer, significantly.

This isn’t the first time popular drugs have been dropped from coverage. Just this year, Qsymia, Abilify, Viagra, and others were dropped coverage. In 2017, several expensive cancer drugs and hepatitis C medications will also be dropped. Adjustments to the list of covered drugs are likely to occur annually.

As a result, it’s important to take the time to make sure you’re ready for the coming changes:
  • Review the list of drugs being dropped from each company’s formularies for 2017.
  • Consider switching insurance providers if you require a specific prescription that will no longer be covered. 
  • If you’re blindsided by a drug no longer being covered, it is possible to appeal the coverage decision with your insurance provider. To get your drug covered through the exceptions process, see the requirements here
  • Some insurance companies will provide a one-time refill for your medication after you first enroll. Ask your insurance company if they offer a one-time refill until you can discuss next steps with your doctor.
While coverage is changing, one thing you can continue to count on is the FamilyWize Prescription Savings Card, which is available to you at no cost, and can save you an average of 43% off the cost of your medications.

If you don’t already have one, you can download a free card online today or request a card by calling 1-800-222-2818. You can also get the free FamilyWize app, available for both Android at the Google Play Store and Apple Devices (iPhone and iPad) at the App Store.

Monday, August 8, 2016

Know Your Price: The FamilyWize Drug Price Lookup Tool

 Are you overpaying for your prescription medications? Many of us are simply because we aren’t sure how or where to find the most affordable price for a particular medication. While the cost for the same drug may differ significantly from one pharmacy to the next, even in your own neighborhood, it can take a significant amount of time and research to determine which pharmacy you should go to. We’ve got good news: finding the best price is easy, thanks to the FamilyWize Drug Price Lookup Tool.

The FamilyWize Drug Price Lookup Tool is free and easily accessible on the FamilyWize website. All you need to know is the name of your medication, the dosage, and the zip code for the area where you’d like to visit the pharmacy.

FamilyWize takes that information and displays the price you’ll pay for your prescription at a variety of pharmacies (if you use the FamilyWize Prescription Savings Card). Armed with this information, you can make the best choice about which pharmacy to visit, knowing that you’ll be paying the lowest price available.

The FamilyWize Drug Price Lookup Tool

Using the Drug Price Lookup Tool couldn’t be easier; in fact, it’s right on the homepage of the website! It looks like this:

Simply type in the name of your medication and then enter your zip code, or the zip code where you plan to visit a pharmacy. Click the “See your savings” button, and voil√†!

In this example, we entered Zoloft as the drug and 37401 (Chattanooga, TN) as the zip code. The results provide key comparison facts, such as the dose form, the strength, and the quantity, so you know that you’re comparing apples to apples – or, in this case, 30 Zoloft 100 MG tablets to 30 Zoloft 100 MG tablets.

You can also sort the price range from low to high, filter by generic or brand name medication, select major pharmacies only versus all pharmacies available, and choose the maximum distance for the location of the pharmacies.

The results then list the area pharmacies that carry your medication (in this example, it’s Zoloft) and the exact price you’ll pay at each if you use the free FamilyWize card or app. For Zoloft, the prices varied from as little as $10.99 to as much as $27.48 – nearly double the price! If this were a monthly prescription for you, the difference over the course of a full year would be significant.
Start saving with FamilyWize

FamilyWize makes it easy for you to save. The FamilyWize Drug Price Lookup Tool is a free and easy way to comparison shop for your prescriptions, but that’s only one step. Insurance or not, you can save significantly – an average of 43% – on your prescriptions with the FamilyWize Prescription Savings Card.

The free FamilyWize Prescription Savings Card ensures that you’re paying the lowest price, whether it’s the pharmacy’s, the insurance price, or the FamilyWize price.

Download a free card online today or request a card by calling 1-800-222-2818. You can also get the free FamilyWize app, available for both Android at the Google Play Store and Apple Devices (iPhone and iPad) at the App Store.