Managing prescription drug costs

Feeling the squeeze of inflation? Copay assistance programs may be able to help cut prescription drug costs.

Managing healthcare expenses, especially prescription drug costs, is crucial for maintaining financial stability.  Group medical insurance plans offer coverage for prescription drugs – however, you may be able to lower your out-of-pocket costs by tapping into drug manufacturer copay assistance programs.  Here's how you can utilize these programs to ease the burden of prescription expenses:

  • Use Your Insurance: Your insurance plan gives you coverage and great discounts on prescription drugs.  When you use your insurance for covered drugs, the amount you pay will count toward your out-of-pocket maximum.  However, the copays and deductibles can add up particularly for brand and specialty medications.  If your out-of-pocket cost is high after insurance, you may receive significant help by using a drug manufacturer copay assistance program.
  • Do Your Homework: Start by researching available copay assistance programs offered by drug manufacturers.  Websites like,, and provide valuable resources to identify eligible programs, along with criteria and application details.
  • Check Your Eligibility: Review the eligibility requirements for each program.  Factors such as income level, insurance status, and specific medical conditions may influence your eligibility.  Ensure you meet the criteria before applying.
  • Apply Wisely: Complete the application process for the programs you qualify for.  This typically involves filling out forms provided by the pharmaceutical companies.  Prepare necessary documents, such as income verification and insurance details, to streamline the application process.
  • Stay Updated: Keep abreast of program updates and renewal requirements.  Some programs require annual renewals, while others may need reapplication for each prescription refill.  Stay informed to avoid any interruptions in your assistance benefits.
  • Explore All Options: In addition to insurance and copay assistance programs, explore other avenues to reduce prescription costs.  Consider generic alternatives,prescription discount cards, and pharmacy savings programs.  Discuss these options with your healthcare provider or pharmacist to find the best fit for your needs.

By leveraging drug manufacturer copay assistance programs,employees can significantly alleviate the financial strain of prescription medications.

Experienced employee benefits broker, Maddock & Associates, is available to assist you with your insurance questions.  To reach Maddock & Associates, call 800-875-4490.

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