Health insurance plans vary greatly in their coverage, deductibles and out-of-pocket expenses.  If you choose the wrong plan you could be paying more for your medication. In addition, even if your medication is covered in your plan’s formulary, you may still have to pay a large amount of money  as out-of-pocket expenses such as coinsurance is based on its tier. Higher the tier, higher will be coinsurance that you will have to pay as a percentage of the medication’s price. The average copay for the lowest Tier-1 generic drugs is $11, while it is 33% for Tier-4 or Speciality drugs. In addition, your plan may also require you to meet a deductible before covering any of your prescription medications costs.

Once your insurance plan determines copay amounts for different tiers there are times when the cost of the drug is less than your copay. In this case the PBM will collect the difference as a profit. Here is how a clawback works. Suppose you go to fill a prescription medicine for which you have to pay $12.40 as copay. The medicine costs $3.30 and the pharmacy is reimbursed $8, giving a difference of $4.70. The the benefits manager will take back the remaining $4.40. Clawbacks for PBMs are possible as they take advantage of an opaque market. In most of these cases, the customers does not realize that the cash price of the medication would be cheaper than their copay.

Branded medications are always priced higher than their generic counterparts with the same active ingredients. You may be paying higher for your prescriptions by shopping for branded medications. Ask your doctor if a generic equivalent is available for your condition, this could help you significantly save on prescriptions as generics are priced lower compared to their brand-name counterparts.

Prices of medications vary from pharmacy-to-pharmacy and brand-to-brand. Don’t assume that you are paying the lowest price of your branded or generic medicine at your local pharmacy. Check drug prices at the www.savingsonmeds.com for the lowest cash price of a medication at a pharmacy near you. Often you will find  medications at a lower price with SaveonMeds. Visit  www.savingsonmeds.com and find out if the medication you are taking  is cheaper than your current out-of-pocket cost with health insurance.

Even with an excellent health insurance plan, saving on prescription medications can be tough on your monthly budget, thanks to high deductibles and variable copay’s.

Use your SaveonMeds drug card to save on medication costs with or without insurance, as it protects you from overpaying for prescription medications. SaveonMeds will help fill the gaps that your health insurance and Medicare do not cover. For those without insurance, SaveonMeds medications saving card allows prescription medications savings of up to 85% on brand-name and generic medications at over 65,000 pharmacies in the USA, including the major chains such as Kroger, Target, CVS, Walgreens, Winn Dixie, Walmart and Publix.

At SaveonMeds we are committed to help with saving on prescription drugs. Just download your SaveonMeds drug discount card from www.savingsonmeds.com, and show it to your local pharmacist to pay the discounted price of up to 85% on branded and generic medications. Check drug prices at your local pharmacies at www.savingsonmeds.com for the lowest price to further increase your savings on drugs.

You can also get your digital drug saving card by texting the keyword “SAVEONMEDS” to phone number 21000. Your pre-activated SaveonMeds discount drug card will be delivered to your mobile number for Free. No registration is needed and there are no upfront or renewal costs as well. It’s that easy!

Take your SaveonMeds medications savings card with you next time you go to a pharmacy to fill or refill your prescription. Everybody is eligible for SaveonMeds drug card regardless of their age, coverage or income. The prescription savings card can be used to save on flu vaccines, save on Benzonatate, save on Viagra, or as an Albuterol discount card and Adipex savings card. It can be used even if you have insurance, and also shared with the family, friends and colleagues to help them save on meds.