The answer is… it depends.
Your pharmacy will charge you the cost of the drug OR the applicable Co-Payment/Cost Share under your insurance policy, whichever is less. Cost Share, by the way, is the discounted price that your insurance carrier negotiates with the pharmacy.
Knowing this, you might be inclined to ask your pharmacy if it’s cheaper without insurance. After all, your pharmacy may have a sponsored discount program or coupon. Keep in mind, if you don’t use your insurance to buy your medication you won’t get closer to hitting your plan’s out-of-pocket maximum. For everything you gain, there’s something you lose.
“Be a wise, educated consumer,” said Sandy Garcia, Focus HR’s Benefits Account Executive. “You need to shop around and decide what’s best for you and your family.”
Here are some resources to get you started:
- Walmart $4 Prescriptions
- Costco Wholesale (access without membership varies by state)
- Sam’s Club (according the the company website, you do NOT need to be a Sam’s Club member to benefit from its prescription drug program.)