An alternative that is gaining popularity to providing employees with affordable prescription drugs, prescription drug card plans are not insurance. Companies that furnish these plans have arranged partnerships with drugstore chains to drive business to those outlets.
Many insurance providers, however, have arranged with these companies to package their services as part of their group health plans.
Because prescription drug card plans are not insurance, they often allow for pre-existing conditions, eliminate any limits on the number of prescriptions that may be filled, and can vastly reduce costs for businesses, as well as paperwork.
Prices employees pay may be higher than what they might pay under a traditional group health plan. Also, employees may be restricted to having to purchase prescriptions at designated pharmacies. This may be a challenge for businesses in smaller communities.
If your benefit plan does not currently provide insurance coverage or discounts for prescription drugs, you should consider this option.
It can provide a valuable additional benefit to you and your employees at no out of pocket cost to the company.
SBI registered users are eligible to receive a no-cost prescription drug discount card for themselves and their employees. There is no charge for the card, and the card supports discounts of 10% to 60% on most prescription drugs. (This program is administered by New Benefits, LTD.
Read more and enroll in the program through our Member Benefits section of this site.