Maximize Your Prescription Drug Benefits
As you may know, prescription drug costs continue to rise each year. To help contain costs, Sav-Rx, the Fund’s prescription drug administrator, negotiates with pharmaceutical companies to ensure that you have access to safe and effective medication at reasonable prices. But you can also do your part! By understanding how your prescription drug plan works—and taking advantage of cost-cutting opportunities whenever possible—you can save money on your medications.
Here are some smart tips for maximizing your Rx benefits:
- Stay in the Sav-Rx network. Before filling your prescription, make sure your pharmacy is part of the Sav-Rx network. No benefits are payable for prescriptions filled at a non-network pharmacy. Note: Not all chains/pharmacies are in the Sav-Rx network. For example, Walmart, Sam’s Club, and certain Rite-Aid locations are not in the Sav-Rx network.
- Request generic drugs whenever they’re available. You should also ask your physician to prescribe generic drugs whenever appropriate. Using generic drugs is a very effective way to help save money—for both yourself and the Fund. As brand name drugs patents expire and generic alternatives become available, you should talk to your doctor about taking the generic. For example, generic alternatives are now available for Nexium and Celebrex. Important reminder: If your doctor indicates a generic medication is acceptable, but you choose a preferred or non-preferred brand name drug instead, you must pay the difference in cost between the preferred or non-preferred brand name and the generic medication, plus the preferred or non-preferred brand name copayment amount. See examples of how you can save with generic drugs.
- Consider a 90-day prescription instead of a 30-day prescription for maintenance medication. In many cases, you’ll save money by going with the longer-term prescription through the Fund’s mail order program. You’ll also save time by not having to visit the pharmacy each month!
- Embrace Step Therapy. Step Therapy is a program especially for people who take prescription drugs regularly for ongoing conditions like arthritis, asthma and high blood pressure. It helps you get an effective medication to treat your condition while keeping costs as low as possible. Step Therapy requires you to first try certain drugs to treat your medical condition before another drug will be covered.