Changes in Prescription Costs
You may have seen in recent news that many changes are coming in the world of prescription drug coverage. The result is that your prescription drug costs may be changing soon.
One of the biggest changes taking effect in 2016 is that almost all Medicare Part D beneficiaries are expected to pay higher premiums. These individuals will also experience fewer choices in prescription drug plans, higher deductibles, more out-of-pocket costs, a smaller coverage gap and limited pharmacy options. It's highly suggested to shop around during open enrollment to better understand your options.
Many insurance providers have provided lists of medications and treatments that will no longer receive coverage for the upcoming year. CVS Caremark is expected to drop 31 prescription drugs from their formulary in January 2016. Commonly prescribed diabetes and multiple sclerosis treatments such as Avonex, Invokana and Plegridy, will no longer be covered. Other popular medications that are included in this non-covered list are: Viagra, Abilify, Amitiza, Cymbalta, Diovan and Fosrenol. Blue Cross Blue Shield has announced their non-covered list for 2016 as well including prescriptions such as: Accu-Chek Test Strips, GoLytely, Suprep, Mircera, Epogen and many compound medications. It's highly important that you check with your prescription benefit manager or insurance provider to review their list.
Pharmacies nationwide are seeing a high increase on drug prices. Recently, Turing Pharmaceuticals increased their price by 5,000% on a 62-year old drug commonly prescribed to treat parasitic infections in HIV patients and pregnant women. Birth Control Card can help save you up to 75% on your non-covered prescriptions. There are no eligibility requirements, applications or forms to complete. You can simply print a card or coupon and take it to your pharmacy (with your prescription) to receive a discount.