The percentage of people with employment-based health insurance dropped from 70 percent in 1987 to 61 percent in 2004. This is the lowest level of employment-based insurance coverage in more than a decade.
Prescription
Plans
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Americans are using more prescription
drugs today more than ever. In fact, most of us have
at least one prescription filled each year and older
adults get prescriptions filled even more often. A prescription
plan is a wise safeguard to cut costs when medication
is necessary. Prescription plans on simply cost effective.
Most health insurance providers offer affordable plans
to meet the needs of the insured. In fact, the average
cost of a yearly prescription plan is only $24!
Insurance companies use a formulary to
decide what medications they will cover and which ones
they will not. A formulary is a compiled list of preferred
medications that your insurance provider uses when considering
what your prescription plan will cover, just as what
physicians the HMO and PPO networks choose to include
in their networks. Individuals with prescription plans
should have access to what medications are listed on
the formulary so they know what will be covered and
what will not.
Generic drugs are of the same quality
as name brand drugs. If your doctor prescribes a medication
for which a generic is available, you can choose the
generic to cut costs. If you prefer the name brand,
you will probably be responsible for the difference
in costs. Usually generic drugs become generic because
the patent on the brand name has simply expired. Interestingly,
the U.S. Food and Drug Administration requires that
each generic drug include the same ingredients and strength
as the marketed name brand.
People of all ages can benefit from having
a prescription plan. Families with children are regularly
picking up prescriptions for common ear infections and
upper respiratory viruses. The elderly population is
quite often taking maintenance drugs or drugs that are
required for a long-term illness. Even single adults
get common cold infections, allergies, and viruses during
certain seasons. Prescription plans are simply worth
the money and beneficial to all of us.
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Family-Health-Insurance reviews insurance services to provide information on products and options, but is not an insurer or a licensed agency. Coverage and policies described on this site may not be available in all states.
