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Are your employees covered for prescription drugs? If they’re not covered by group health insurance, prescription drugs can get very expensive. As a business owner, it’s in your best interest to ensure that your employees are getting the best coverage possible…and that includes prescription drugs.
Although we have great health coverage here in Canada, it’s often not enough. This is where we can help. Similar to a mortgage broker, we work with all the major carriers to find the prescription drug plan and price that’s right for you.
A health insurance plan that includes prescription drug coverage will significantly reduce the cost of certain medications. Typically, your plan will include $500 to unlimited per year on drug costs, with either a percentage or the entire fee covered.
It is customary that an individual will have some out-of-pocket expense when paying for prescription drugs, but with an insurance plan, this is very low. Your fee could be zero by combining a health insurance plan with a Health Spending Account or Cost Plus.
For example, if you required a medication that cost $100, and your plan covered 80% of the drug fee (with a yearly maximum of $500), you would pay $20 when you picked up the medication. You would then have $420 in your plan to pay for prescription drugs for the rest of the year.
Some plans require that users pay a deductible before their prescription drugs are covered, but after this payment, the drugs are covered 100%. Therefore, it is advisable to understand each plan in detail so that Lifetime Benefits can find the ideal custom plan for your health needs.
A health insurance plan that includes prescription drug coverage will significantly reduce the cost of certain medications. Typically, your plan will include $500 to unlimited per year on drug costs, with either a percentage or the entire fee covered.
It is customary that an individual will have some out-of-pocket expense when paying for prescription drugs, but with an insurance plan, this is very low. Your fee could be zero by combining a health insurance plan with a Health Spending Account or Cost Plus.
For example, if you required a medication that cost $100, and your plan covered 80% of the drug fee (with a yearly maximum of $500), you would pay $20 when you picked up the medication. You would then have $420 in your plan to pay for prescription drugs for the rest of the year.
Some plans require that users pay a deductible before their prescription drugs are covered, but after this payment, the drugs are covered 100%. Therefore, it is advisable to understand each plan in detail so that Lifetime Benefits can find the ideal custom plan for your health needs.
A health insurance plan that includes prescription drug coverage will significantly reduce the cost of certain medications. Typically, your plan will include $500 to unlimited per year on drug costs, with either a percentage or the entire fee covered.
It is customary that an individual will have some out-of-pocket expense when paying for prescription drugs, but with an insurance plan, this is very low. Your fee could be zero by combining a health insurance plan with a Health Spending Account or Cost Plus.
For example, if you required a medication that cost $100, and your plan covered 80% of the drug fee (with a yearly maximum of $500), you would pay $20 when you picked up the medication. You would then have $420 in your plan to pay for prescription drugs for the rest of the year.
Some plans require that users pay a deductible before their prescription drugs are covered, but after this payment, the drugs are covered 100%. Therefore, it is advisable to understand each plan in detail so that Lifetime Benefits can find the ideal custom plan for your health needs.
Get a free no-obligation online quote for employee benefits by following the link:
