Medication Benefits & Your Formulary

Today, patients can easily wind up spend more on pharmaceutical medications than visiting the doctor. Depending on the pharmacy coverage you selected, your costs could range from tens of dollars to thousands for a single supply of the drug your doctor prescribed.    With deductibles, co-payments and co-insurance, managing your medications can be complicated, but taking time to review your benefits in this area can save you thousands in the long run.  


As more patients find themselves struggling to meet the out-of-pocket expenses associated with their medication and pharmaceutical needs, it is important to be as educated as possible regarding the coverage details that guide your plan decisions. Medication details and drug lists are not buried deep in the fine details anymore, all plans must provide you access to what's called the 'formulary' along with coverage details for your medication needs. This document is the key to understanding the factors that influence how much you will have to pay for your medications, and what you can do to lower those costs.

The more you become familiar with these parts of your coverage, the better prepared you will be to avoid costly misunderstandings, and avoid delay in getting the medications you need.

Your pharmacist already connects you with important medical information for your specific medication, including indications for use, possible side effects, etc, and combining that with the details of your insurance plan formulary details, you will be aware of how each medication will impact your body and your wallet.