- Why Do I Need Health Insurance?
- What to Look For in Healthcare
- Saving Money On Healthcare
- Blue Cross Blue Shield Plans
- Why Blue Cross Blue Shield?
- Health Savings Accounts
- Short Term Plans
- Dental Care
- Insurance For Students
- Insurance For Small Business
Save Money On Prescription Drugs
Prescription drugs are always getting more and more expensive. But there are ways to save money on the drugs you need.
Generic Drugs vs. Brand Name Drugs
Generic drugs have the same active ingredients as name brand drugs. They're just as effective, and just as safe. But generic drug makers don't invest the same amount of money in researching and developing new drugs. And they spend a lot less on advertising than brand name drug makers.
The result is less expensive medications - sometimes much less expensive. For example, you can save over $100 a month by taking the generic version of the heartburn medication Prilosec. And if you rely on more than one medication, the savings can really add up.
Medicare Part D
Medicare Part D adds prescription drugs to the medical expenses Medicare helps to cover. For prescription drug benefits, you'll need to enroll with a Prescription Drug Plan (PDP) offered through a private insurance company.
To make sure you get a prescription drug plan at the best possible rates, enroll during the open enrollment period. This year open enrollment begins on November 15th and ends on December 31st.
Save Money With Health Savings Accounts (HSAs)
If you enroll in a high deductible health plan, you can set up a Health Savings Account (HSA).
An HSA lets you invest money that earns interest - and you won't have to pay taxes on it. You'll be able to use your HSA funds to pay for almost any health-related expense, including prescription drugs.
The money in your Health Savings Account "rolls over" from year to year - meaning that your account keeps growing in value. You'll be able to take out funds for just about all medically related costs. And when you reach age 65, you can withdraw the money for any purpose you choose. Health Savings Accounts are a great way to pay for healthcare during your working life - and a way to put aside extra money for retirement.
Want to get expert advice about choosing the right option for your needs? Fill out our short online form and Medicare Part D Quotes. We'll help you make sense of your needs to make an informed decision on the right plan.
