Saturday, 15 November 2014

What You Need To Know About Discount Prescription Cards


If you have been in the dark about discount prescription cards, here is all the information that you need to know
How the cards work
When you (the customer) make a purchase at a pharmacy, you present the card to the pharmacy and you are provided with a quote for the amount of money that you will save by making the purchase using the card
Once you are given the information you have to decide on whether you want to make the purchase using the card or not. You should note that the savings are realized at the point of sale and not later through a rebate process
People who are fit for the cards
The cards are ideal for everyone: whether you have insurance or not. Although, the cards are ideal for everyone, people without insurance usually attract larger discounts.
You don't have to kick yourself if you have insurance. This is because the cards are also beneficial to you even if you are insured; they allow you avoid high deductibles. You are also eligible for discounts that are not covered by your insurance policy
Amount that you will save
The amount that you can save depends on a number of factors such as the drugs that you are purchasing and the issuer of the card
In the best of situations, you can save up to 80% of the cost of the medications; however, the average discount is 15-20%. You should note that generic medications attract higher than average discounts
How the cards make money
There are three main ways in which the cards make money
Enrollment, annual or monthly fees: these fees are directly charged to the consumer. The fees can range from a few dollars to $100 per year. Although, this is one of the ways in which the cards make money, there are some cards that don't charge a fee. To save money, you should go for cards that are free
Transaction fees: these are charged every time you use your card. Although, the fees come at the consumer's expense, they are minor and insignificant to the amount that you will save. Transaction fees are charged by every discount drug card
Information sales: when you use your card, your information is collected by your card issuer. The information includes: your purchase history, name, and address
When the card issuer collects the information, he/she sells it to marketers and the marketers use the information to market their products to you. You should note that the information cannot be used to harm you

By Duncan Lancer  

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