What difficulties face people with high deductible plans when buying prescriptions?
High deductible health plans require policyholders to pay for their own medical care and services until the cost reaches a certain threshold. In a typical high-deductible plan, this can be over $6,500 for an individual and significantly higher for a family plan. The consequence is many Americans with these plans do not satisfy their annual deductibles. This means they pay a lot of out-of-pocket medical expenses and do not receive co-pay benefits.
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Policyholders generally get lower prices for prescriptions than the cash price you would receive walking into a pharmacy. However, these are usually higher than a co-pay rate and it can be particularly expensive when buying branded medication.
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​How does RxSpark help?
RxSpark vouchers are often significantly cheaper than the price of an insurance co-pay and are lower than the cash price paid when you walk into a pharmacy.
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Generic drugs often cost less than a co-pay, while the price of branded pharmaceuticals may also be less on RxSpark, particularly if it is not covered in your health plan’s formulary.
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Just ask your pharmacist to use the voucher to process the transaction and not to run the prescription through your insurance.
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Don’t forget, prescriptions purchased with RxSpark will not count towards a deductible. If you have a large number of medical expenses or numerous costly prescriptions, it might be worth considering using your insurance to satisfy your deductible.