Consumers are expected to spend more than $338 billion on prescriptions annually. One in four people have difficulty affording the cost of medication. A variety of prescription drug discount cards are available to consumers, making medications more affordable.
Discount cards are heavily marketed and resemble health insurance cards; however, they are not processed through the insurance benefit. Prescription discount card programs are privately managed and do not fulfill the minimum insurance requirements of the Affordable Care Act therefore they must be considered differently than health insurance. Insurance payers will not process drug claims if a prescription discount card is used, and the purchase price paid will not apply to deductible or out-of-pocket maximum accumulators.
There is no fee to use the McGriff Rx Discount Card. An online pricing tool enables consumers to determine pricing for their specific medications and choose the pharmacy that offers the most savings. Those who have health insurance can compare the savings to what their insurer offers. Savings may be substantial for those with a high deductible health plan. Discounts may vary by prescription, location and pharmacy used.
For example, discounts on medications that are highly utilized in a specific are may be highly discounted. Savings on generic drugs are typically much higher than savings on name brand drugs. Most doctors write prescriptions in a way which allows generic substitution since they are clinically equivalent to the ingredient in the original brand.
HIPAA privacy rules apply to health care providers, health insurance plans, and health information clearinghouses that maintain records or submit claims for other covered entities. McGriff’s discount card does not require any personal information for use. Pharmacies are covered by HIPAA and do not disclose personally identifiable information to the discount card company when a prescription is filled.
