Prescription drug coverage is an important aspect of overall health care coverage. This article will briefly discuss the types of coverage that are available, as well as some things you should be aware of when choosing a plan.
Most people obtain their prescription drug coverage as a part of their overall medical insurance plan. Most medical plans include some form of prescription drug coverage, and some states actually require employers to include this coverage in the medical plans that they offer to employees. Whether purchased independently or in combination with other coverage, the available types of coverage are similar.
Traditional, or fee-for-service coverage is the most common form of prescription drug coverage. This type usually has an annual deductible amount in addition to the amount of the premiums. In general, the lower the premiums, the higher this deductible amount will be. This type of policy pays a percentage of your overall drug bill once the deductible has been met. This percentage is usually around 80%. This type of coverage usually requires you to pay for your prescriptions up front, and you are reimbursed by filing claims. Another aspect of...
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