Prescription Drug Insurance

Prescription Drug Insurance

Prescription drug insurance is a significant part of a complete health insurance plan. According to the CDC, 48.4% of adults have used at least one prescription drug in the past 30 days, 24% have used three or more, and 12.6% have used five or more.

What type of prescription drug insurance are there?

There are various plans that can be used to cover prescription drugs:

  • Copays: Copays are the most common type. Copays for prescriptions are a set amount that you pay for prescriptions right from the start.
  • Coinsurance: With coinsurance, you pay a percentage of the prescription cost and insurance covers the rest. 
  • Prescription Deductible: A prescription deductible is separate from a medical deductible and needs to be met before coverage starts.
  • Integrated Deductible: An integrated deductible includes both medical and prescription costs. Once the full plan deductible is met, prescription copays or coinsurance applies.

Prescriptions are expensive and having adequate coverage can make the difference between being able to afford medications or having to do without.

Consult with Chris The Health Advisor to review your best vision insurance options.