Tennessee has the highest rate of prescription drug use in the United States.
This is according to a 2007 study conducted by Blue Cross/Blue Shield of Tennessee.
1 in 3 Tennesseans were uninsured during the past 2 years, according to a report published March 31, 2009 by Families USA and based on data from the U.
S.
Census bureau.
Only 54.
7% of employers in Tennessee offer group health insurance to their employees.
The financially struggling uninsured and workers hurt by the recession, must find cost saving medications.
Generic drugs save consumers an estimated $8 billion per year in the United States.
In this time of recession, cutting back expenses is a number one priority for most Americans.
The price difference between generic drugs and brand name drugs can be quite a surprise.
With the high cost of medications consumers really have very little choice but to go with the cheaper price when it is an option.
Generic competition means lower drug prices.
The state of Tennessee offers low income residents prescription assistance.
CoverRX offers generic prescriptions with low co-pays.
However, this plan does not cover brand names.
This can be a significant problem, since it takes several years for a new brand name medication to have generic options.
New life saving chemotherapy drugs, as an example, may only be offered through brand names.
When obtaining private health insurance in Tennessee there are several options.
One of the most important options to consider is the prescription drug option.
Some policies automatically provide coverage with generic co-pays, but covering brand name prescriptions with co-pays is usually extra.
It is important for the insured to understand if this option is not taken, they will be responsible for the full brand name medication cost.
Because of this, I advise my clients to elect the extra prescription coverage even though it may cost a little more in insurance premiums.
We don't know the future, and this extra benefit is sometimes worth the price.
As additional generic manufacturers market the drug, the prices continue to fall.
If the average price of a brand name drug is $72.
00 the generic version is $17.
00.
That is quite a difference.
Many health care practitioners, however, automatically write prescriptions for the brand name.
It is up to the patient to inform the doctor to allow a substitution if available.
Make sure you know how your insurance company handles payment of medications.
Consumers have many questions about prescriptions.
Why are prices so much lower if the drugs provide the same benefits? Why does it take so long for a generic version to become available? How does the FDA determine the effectiveness of drugs? Are generic drugs really as effective as brand name drugs? Why do most doctors prescribe the brand name even if a generic is available?
This is according to a 2007 study conducted by Blue Cross/Blue Shield of Tennessee.
1 in 3 Tennesseans were uninsured during the past 2 years, according to a report published March 31, 2009 by Families USA and based on data from the U.
S.
Census bureau.
Only 54.
7% of employers in Tennessee offer group health insurance to their employees.
The financially struggling uninsured and workers hurt by the recession, must find cost saving medications.
Generic drugs save consumers an estimated $8 billion per year in the United States.
In this time of recession, cutting back expenses is a number one priority for most Americans.
The price difference between generic drugs and brand name drugs can be quite a surprise.
With the high cost of medications consumers really have very little choice but to go with the cheaper price when it is an option.
Generic competition means lower drug prices.
The state of Tennessee offers low income residents prescription assistance.
CoverRX offers generic prescriptions with low co-pays.
However, this plan does not cover brand names.
This can be a significant problem, since it takes several years for a new brand name medication to have generic options.
New life saving chemotherapy drugs, as an example, may only be offered through brand names.
When obtaining private health insurance in Tennessee there are several options.
One of the most important options to consider is the prescription drug option.
Some policies automatically provide coverage with generic co-pays, but covering brand name prescriptions with co-pays is usually extra.
It is important for the insured to understand if this option is not taken, they will be responsible for the full brand name medication cost.
Because of this, I advise my clients to elect the extra prescription coverage even though it may cost a little more in insurance premiums.
We don't know the future, and this extra benefit is sometimes worth the price.
As additional generic manufacturers market the drug, the prices continue to fall.
If the average price of a brand name drug is $72.
00 the generic version is $17.
00.
That is quite a difference.
Many health care practitioners, however, automatically write prescriptions for the brand name.
It is up to the patient to inform the doctor to allow a substitution if available.
Make sure you know how your insurance company handles payment of medications.
Consumers have many questions about prescriptions.
Why are prices so much lower if the drugs provide the same benefits? Why does it take so long for a generic version to become available? How does the FDA determine the effectiveness of drugs? Are generic drugs really as effective as brand name drugs? Why do most doctors prescribe the brand name even if a generic is available?