In insurance-speak, this is called a high-deductible health plan, or HDHP. Last year, 46% of Americans with employment-based insurance had an HDHP, which requires you to spend at least $1,350 annually before your plan contributes. Employers prefer HDHPs because they save both the company and their employees money. In the past few years, many companies have offered an HDHP as the only plan option for their employees, and 2019 is no different.
As a young, healthy woman, this means Lauren will pay all of her medical and prescription expenses out of her own pocket unless she has a major medical issue.
Lauren is aware of some ways to cut her prescription costs, and her doctor always prescribes generic medications when possible. Until recently, she was taking fluoxetine (generic Prozac), which she found for $4 at some pharmacies—lower than many insurance copays—and generic Adderall. Her total was around $50-$60 per month—not cheap, but manageable.
However, when the fluoxetine stopped working for her, Lauren’s doctor switched her to bupropion (generic Wellbutrin). Now, her two generic prescriptions cost her $120 per month.
Lauren’s doctor recommended GoodRx to help her save money when she made the switch, but Lauren still paid the full $120, thinking GoodRx sounded too good to be true.
Finally, after months of paying the full retail price for her medications on top of her insurance premium, she decided to give GoodRx a shot. She was shocked when a GoodRx coupon reduced her total to $60 for both prescriptions—a 50% savings! This will save her $720 over the next year.
Lauren’s story is a reminder that it’s always worth comparing GoodRx prices to your insurance copay, especially if you’re on an HDHP. You’d be surprised how often GoodRx can find lower prices. Keep in mind that when you pay with a GoodRx discount, it will not count toward your deductible. It’s up to you to decide whether it makes more sense to pay less for your prescriptions now, or to try to get through your deductible phase to get your full copay benefits.
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