Employee Benefits

3 Things to Know About Prescription Drug Plans and Benefits

Prescription Drug Plans/Benefits

Americans are frustrated with the cost of prescription medications. Last year they spent about $450 billion on generic and name-brand prescription drugs. The Centers for Disease Control reports that the United States expends the most of any country in the world on drugs, which accounts for about 17 percent of total health care spending. Here are three things to know about prescription drug benefits:

  1. Unused benefits – Many employees have prescription drug benefits through their medical insurance plans, but often they cannot use the coverage. Due to increased health care costs, thousands of employers have switched to high-deductible health plans. This means employees pay more out of pocket before receiving benefits for prescription drug costs.

  2. Unfilled prescriptionsThe National Center for Health Statistics reports that many adults choose to save money by not filling prescriptions or following medication directions:

    • 8 percent do not take drugs as directed
    • Percentage that do not fill prescriptions:
      • 6 percent of adults with prescription insurance
      • 10 percent of those with Medicaid coverage
      • 14 percent of individuals with no prescription benefit
         
  3. Prescription savings with Envision – Ameritas offers a prescription savings program called Envision. Even if members have prescription coverage through their medical insurance, they may want to check out the Envision program. This benefit can be used at 60,000 pharmacies across the country, such as at CVS, Rite Aid, Walgreens or Walmart. Members receive up to 65 percent savings on generic prescriptions, and an overall savings of 40 percent across brand-name and generic prescriptions combined.

    
Envision is a value-added savings benefit that makes it possible for people to afford the prescription medications they need. Individuals can find a pharmacy near them and look up prescription pricing in their area. Use this ID card to save on prescription drugs with the Ameritas Envision program.

Learn more about Ameritas group dental, vision and hearing care plans.

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