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BCBS of KY Insurance Plan’s Drug Formulary

May 20th, 2013     News

One of the things that you need to make a note of when you have insurance plans from carriers like BCBS of KY is prescription medication coverage. Although prescription drugs can seem like a small cost for you to pay for, medications that you need to take regularly can run up the bill. So if you’re taking in prescribed drugs regularly or would likely to take one, you need to find insurance that provides you with prescription medication coverage. It’s important to note that there are aspects that have a role with you getting the best coverage – these are generic drugs and the drug formulary

Generic Drugs

In comparison to branded medications, you’ll pay for a lower cost when you buy generic drugs. While there’s really not much difference between branded medication and generic medication in line with the dosage form, the quality, the route of administration and performance, you might want to think about your options carefully. Many insurance plans, favor branded medication. But you can always find a way to get a better deal when you shop for plans that allow generic medications in their formulary.

Prescription Drug Formulary

The prescription drug formulary is a list of the drugs that are covered under your plans. If you need a particular type of medication and it’s not on the list, you have to come out of pocket for these medications. Even if you find the branded version of your medication and you’re looking to buy the generic ones, you have to ask your insurance carrier about that to see if itýs part of your coverage. In as much as you can get savings when you buy generic drugs, you might have to pay double when your insurance prescription drug formulary doesn’t cover for that particular kind of medication. You’re paying double in the sense that you pay the premium that includes the prescription drug coverage and then pay again for buying generic drugs that are not in your plan’s drug formulary.

When you don’t have prescription drug coverage on your BCBS of KY insurance plan, you have all the control to buy what kind of medication you like, branded or generic. But keep in mind that you also have to pay for it out of pocket. Make sure that if prescription drug coverage is included in your insurance plan, make sure that the medications you need are listed out in the drug formulary of your BCBS of KY insurance plan.