Posted: 01/21/2014

Drug Rebates, Discounts & Co-pays: How It All Works

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Drug manufacturer rebates and drug discounts are related, but they are not the same thing. In the complicated world of the U.S. prescription drug market, it’s easy to get confused about prices, benefits, discounts, rebates and co-pays. In fact, drug prices can differ up to $100 between one pharmacy and another one on the adjacent corner. Drug prices depend on whether you have insurance or not, whether you ask for a generic or not, whether you’re a member of a pharmacy or not, and more. One of the reasons that drug prices vary so widely is due to drug manufacturer rebates.

Rebates Offset Costs for Large Firms

Through several contracts and agreements, pharmaceutical companies give back to organizations and corporations that purchase large quantities of drugs. Drug rebates is how major organizations like Medicaid, health insurance companies, pharmacy benefit managers, and large employers offset the price of prescription drugs. In some cases, pharmaceutical companies are required to give rebates to an organization, which is the case with programs like Medicare and Medicaid. Other companies get drug manufacturer rebates because they agree to buy in bulk and sell so many of each medication.

These rebates rarely get passed on to the level of small businesses or to the individual. Even if you have health insurance with prescription drug coverage, you may end up having to pay the same co-pay fee for all brand-name drugs or all generics. If you go to the pharmacy with no insurance, you pay the full retail price with no rebate included.

Drug Discounts for Individuals

In the cases where drug manufacturer coupons or rebates are available to individuals, submission of claims, coordination with current health insurance plans and other steps may be required to receive the rebate. In some cases, manufacturers offer rebates to individuals or provide prescribing doctors with rebates to disburse to their patients. Yet, in many cases, these drug manufacturer rebates are not fulfilled by the patients due to the amount of required paperwork and coordination with insurance companies.

HelpRx discounts are different from rebates because anyone can access them with no claims or additional paperwork necessary. It doesn’t matter if you have insurance or not, or what your income level is. HelpRx doesn’t request any of this detailed information from the consumer. We are dedicated to indiscriminately passing on savings to the average person and their families in a market where no one is negotiating on behalf of the individual.

By Diana, HelpRx Staff Blogger

Get your Prescription Discount Card and automatically SAVE on over 50,000 drugs nationwide.

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About the HelpRx.info Blog

HelpRx.info is staffed by experts in the prescription medication industry. Get the latest health, medical news and pharmaceutical news that can save you money and allow you to take charge of your healthcare. With frequent updates about the prescription drug industry as well as medicine news, you'll gain an insider look into the industry and learn more about how to get the best price on your prescriptions while not sacrificing quality. Subscribe to the HelpRx.info pharmacy blog through our RSS feed or get updates by liking HelpRx.info on Facebook and following HelpRx.info on Twitter.

About HelpRx

Our discounts provide you access to negotiated prices on your prescription drugs at your local pharmacy. We can provide these because we're partnered with OptumRx, a BIG pharmacy benefit provider that provides prescription coverage for MILLIONS of people like you.

About ScriptRelief

Script Relief, the creator of the NPSN card and HelpRx discounts, helps consumers save an average of 50%, and up to 75%, off their prescriptions.

Popular Post

 

Get your Prescription Discount Card and automatically SAVE on over 50,000 drugs nationwide.

Helprx_branded_card_desktop Click-here-redbg

Popular Post

 

About the HelpRx.info Blog

HelpRx.info is staffed by experts in the prescription medication industry. Get the latest health, medical news and pharmaceutical news that can save you money and allow you to take charge of your healthcare. With frequent updates about the prescription drug industry as well as medicine news, you'll gain an insider look into the industry and learn more about how to get the best price on your prescriptions while not sacrificing quality. Subscribe to the HelpRx.info pharmacy blog through our RSS feed or get updates by liking HelpRx.info on Facebook and following HelpRx.info on Twitter.

About HelpRx

Our discounts provide you access to negotiated prices on your prescription drugs at your local pharmacy. We can provide these because we're partnered with OptumRx, a BIG pharmacy benefit provider that provides prescription coverage for MILLIONS of people like you.

About ScriptRelief

Script Relief, the creator of the NPSN card and HelpRx discounts, helps consumers save an average of 50%, and up to 75%, off their prescriptions.

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About Our Savings:

HelpRx.info is a discount pharmacy service, partnered with a leading pharmacy benefit manager. We negotiate lower prices on prescription medications, that we pass on to our members for free. There is no cost to use our cards and coupon, and anyone can take advantage of our discounts, regardless of healthcare coverage.

Our savings assurance of “up to 75% off” comes from historical data from actual claims. This data includes savings for both brand name and generic medications.