Compounded Medications & Insurance! Money-Saving Tips When Buying Compound Medications
Compounding medication is slowly gaining popularity everywhere in the world. More and more people are now opting for a personalized method of healthcare over other commercially available medicines. Compounded medications are the best solution for everyone who needs something more than a one-size-fits-all remedy. Nowadays, many medical doctors and patients are turning to compound pharmacies for unique, custom medications.
While these compounding drug treatments may look be a godsend for those suffering from medical issues, they can be very costly. As these compounded drugs are customized only for you, their cost increases due to various active ingredients and labor involved in the making of these drugs.
Are Compounded Medications Covered by Insurance?
Compounding medication may or may not be covered by insurance. It completely depends on the insurance company. Sometimes your insurance coverage might also additionally cover the compounding medication as they do with other mass-produced medication, but some insurers may not cover compound drugs at all. Few insurance companies cover them under certain circumstances or only cover certain active ingredients used in your compounding medication.
Unfortunately, there are no guarantees when it comes to insurance coverage for compounded medications. It is therefore recommended to thoroughly inquire about it when you opt for insurance coverage.
Tips for Saving Money When Buying Compound Medications
As insurance may not cover compounded medication, you are expected to pay for it from your own pocket. Here are some money-saving tips when buying compounding medication.
- Pay from Your Own Pocket:
Sometimes compound drugs are less expensive when you pay for them from your own pocket rather than using your insurance coverage. That’s due to the fact that insurance companies use a tiered system. Ask to get a discounted rate for paying cash instead.
- Ask About Discounts:
While there won’t be a manufacturer attached to your compounded prescription (and therefore no manufacturer discount), many pharmacies provide a few kinds of discounts especially for regular consumers, so don’t shy away from asking for a discount.
- Get Prescription for More Number of Days:
It takes lots of work to create compound drugs, so getting your medication for a 60 or 90 day period could work in your favor cost-wise as pharmacies may give you a discount. Ask about a 60-day or 90-day supply. Not only that will save you money, but it’ll also be more convenient as you don’t have to order a refill every now and then.
- Research for Any Alternatives:
If you take a couple of compounded prescriptions, ask your pharmacist if you could get a customized prescription that reduces the number of prescriptions and ingredients—not to mention the cost.
If you have questions about compounded medications and insurance, it’s best to discuss your concerns with a compounding pharmacy. At Vios compounding, we provide high-quality compounded drugs. We also specialize in bio-identical hormonal treatment for both men and women and can also serve your pet’s needs.