Block Insurance
How do I cut my healthcare costs?
How do I cut my healthcare costs?

How do I cut my healthcare costs?

After the holiday rush, and heading into the new year, there are a few guarantees:

  1. Resolutions will be broken
  2. The first work week back will be hectic
  3. Money will be tight after all the holiday spending

Unfortunately, with the New Year comes many people’s deductible phase with their healthcare insurance. This means even more out-of-pocket expense, following the spending frenzy of December. With healthcare costs rising and copays for pharmaceuticals increasing every year….how can average folks mitigate heavy medical costs in the first few months of the year?

One possible answer could lie at the pharmacy counter. Do you take a “branded” medication? Typically, branded prescriptions can cost dozens or even hundreds of dollars more, per script, than generics can. Here are some tips from Block Insurance on how to save on branded medications in 2022:

  1. Check for a patient assistance program from the manufacturer. Many drug manufacturers offer assistance programs based on yearly income thresholds that are advantageous to people living in rural America.
  2. Have you asked for a copay card? If you have commercial insurance (other than Medicare or Medicaid), many manufacturers offer copay cards that can be accessed on their website or from your PCP. These cards DO work for most ACA plans as well.
  3. International pharmacy. Some new healthcare plans offer an international option for prescription drugs that can be delivered at a fraction of the cost. A Block client recently received a 90 day prescription of an injectable therapy for diabetes for just $20!
  4. Ask for help. Your local pharmacist may be able to advise you about alternative therapies or copay assistance available to you. If you fill your prescription at a large chain pharmacy and don’t feel like your voice is heard, check with a local mom and pop pharmacy. While they may have less flexible hours, they typically have much lower volume and can be more patient-focused.

As always, our team at Block is here to help. If you have any questions regarding your current pharmaceutical spending, give our office a call at (870)236-8744 and ask for one of our licensed health insurance agents.

Have a happy New Year!

Andy Runyan

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