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| Prescription Drug |
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| Prescription drug expense insurance covers drugs and medicines prescribed by an employee’s physician. Typically prescription drug insurance is included with the medical plan. There are several types of prescription drug plans available, but a company may have one of the following plan designs:
flat copay (i.e. $10),
copay plus coinsurance (i.e. $10 plus 10% coinsurance),
or a deductible followed by coinsurance (i.e. $50 followed by 80%).
Often the plan designs will split the copay between generic and brand name drugs. Some prescription drug programs may have a third category – a formulary list.
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