New Prescription Product
Prescription medications can be expensive. But until now, the Rhoads Insurance Agency has been unable to offer anything for individuals and families. Now we have a solution. We recently contracted with the IHC Group to be able to offer the RxPay Advance Drug Card.
Why Haven’t We Had Options Before?
Prescriptions are an uninsurable risk, except for older consumers who are much more likely to need prescriptions as a demographic. For the rest of us, we only want protection from high prescription costs when we’re sick. So most of us would choose not to have prescription coverage.
The insurance companies would lose too much money, unless everyone got it and not just the sick.
There are exceptions, such as when the government forces companies to include prescription benefits. This is the case for the ACA Marketplace. Another exception is for Group insurance, when everyone at a company is required to join the plan whether they need it or not.
Most Private Plans offer only Discounts
Discount plans usually don’t work. We’ve tried a lot out and have been underwhelmed. The best situation you’ll be able to find are plans that reimburse you a fixed amount, for up to 12 pharmacy visits per year. Those benefits help, but there are many cases where the reimbursement amount is miniscule compared to the cost of, say, a specialty brand name drug.
How does this RxPay Plan work?
No prescription plan has to cover all medications. Instead, each plan establishes a formulary – a list of medications that are covered under the plan. Formularies are established with input from doctors, pharmacists, and administrators.
The Advance Drug Card focuses on generic and other low cost brand name drugs. This program is designed to help you find drugs within the same therapeutic class as a drug you may currently be taking. Most of all, this program is designed to save you money on your prescription drug costs.
Tiers indicate retail pharmacy pricing and position. Drug quantities listed must be adhered to in order to receive tier pricing at participating retail network pharmacies.
Contact Us for More Details
Want to get a quote and enroll in the RxPay Advance Drug Card? Set an appointment with us here:
Request a Free Quote