In The Second Coming Of Healthcare Insurance, insurance expert witness Stephen George, MBA-HA, writes:
As the fastest increasing cost in healthcare, Pharmacy plans run the gamut of fully-insured to discount-only plans. Typical plans provide coverage within 3 and 4-tier copayment plans. Almost all insured plans exclude medications, so getting the detail is very important. These plans can be substituted into traditional Major Medical Insurance, Scheduled Medical and even Medicare supplemental plans to reduce premium and out of pocket costs. Mail order medications have met a new plane of efficiency and save dramatically on deductible and out of pocket copayment costs. In some cases, Discount cards offer greater out of pocket savings than insured pharmacy plans.
This reprint by permission of The Self-Insurer and The Self-Insurer’s Publishing Corp. as it appeared in the July, 2007 Edition.