Maximize Your Out-of-Pocket Savings on Prescription Medications

As a State of Indiana employee, you have access to benefits designed to make your healthcare more affordable and convenient. Here are some ways you can save up to thousands of dollars annually in outof-pocket expenses on prescription medications:

• Check out CVS’s Drug Cost and Coverage tool on the CVS/ Caremark Website: Get the best price and never be surprised by the price of your medication at the counter again.
• Get 90-day prescriptions by mail for the most savings: Save time and money with a 3-month prescription for your medication. Whenever available, CVS/Caremark’s Mail Service Pharmacy costs less than retail.
• Don’t overpay for your medications: It is worth your time to check programs like Good Rx, Mark Cuban Cost Plus Drugs, and the drug manufacturer’s website for special deals.

Check Drug Costs and Your Coverage

Did you know that you can see exactly how much you’ll pay for your medications before going to the pharmacy? Check out the Drug Cost and Coverage tool on the CVS/Caremark website. All you have to do is create an account and use the Plan & Benefits tab to find the Check Drug Cost & Coverage tool. Use this tool to search for drugs to see plan coverage, generic alternatives and cost at your pharmacy. This means that you’re never caught off guard by the price of your medication at the counter again.

Maximize Savings with 90-Day Supplies and Mail Service Pharmacy

A 90-day supply of your prescription and receiving it by mail will save you the most time and money. Purchasing a 90-day supply of your medications can be more cost-effective than a 30-day supply and whenever possible, opt for the Mail Service Pharmacy to maximize your savings.

A real world example of savings: To illustrate the potential savings, let’s look at a common injectable drug for inflammatory conditions which now offers a generic called a biosimilar.

• Brand name: The cost is $5,884.
• Biosimilar at retail: The cost is $2,183.
• Biosimilar at mail: The cost is $1,320.

As you can see, using CVS/ Caremark’s mail order services for your prescriptions can lead to substantial savings, potentially amounting to thousands of dollars each year.

Don’t Overpay for Your Medications

Taking a few minutes to check out savings programs is well worth it. Your medication may be one that is offered special pricing by a program like Good Rx, Mark Cuban Cost Plus Drugs or a manufacturer’s coupon. Because these programs focus on just a few medications, they can sometimes offer an even better deal than the already discounted pricing you get through your insurance. Good Rx and Mark Cuban Cost Plus Drugs focus on low cost generic medications. Manufacturer programs are usually for brand name medications.

If you are able to take advantage of these low cost programs, you will have one extra step to take to make sure what you pay counts towards your deductible and out-of-pocket maximum. You will need to submit a Prescription Reimbursement Claim Form to CVS/Caremark. Remember that the INSPD Benefits Hotline is here to help if you have any questions.

Take advantage of these benefits and start saving today. For more information on your prescription coverage and to explore the full list of in-network pharmacies, visit caremark.com. By making informed choices about where you fill your prescriptions, you can make a big difference in your healthcare costs. Save money, stay healthy and make the most of your benefits as a valued State of Indiana employee.

Need help with your prescription drug benefits? Contact the INSPD Benefits Hotline at 877-248-0007.