A Common Myth: Prescription Insurance Co-pays are always the Cheapest Option

As the debate over healthcare in the United States escalates, it is worth some time to take a look at your own medical benefits (if applicable) and analyze what it is your benefits offer you.  Too often,  people (both insured and uninsured) are under the impression that filling their prescription medicines will cost huge amounts of money, and don’t do so as a result.  In many cases, this is false, and may actually end up costing you more down the road.   Today’s prescription insurance structure is a complicated maze of different copays/coinsurance, certain drugs not being covered because they are not “preferred,” and less coverage for more money.  Meanwhile, pharmacy insurance companies (othewise known as PBM’s or Pharmacy Benefit Managers) are making more money than ever by dictating what medication your doctor can prescribe you based on what medications they can get … Continue reading →