Michael M Insurance Blog

Preferred Pharmacy

Apr 25, 2021 | 0 comments

What is a Preferred Pharmacy? A Preferred Pharmacy is a pharmacy that has an affiliation or arrangement with a specific Health Plan/Part D Plan. When a Pharmacy is preferred it will have a lower copay for a medication then other pharmacies in the area. If you are considering a certain health insurance plan and have a specific pharmacy you use, check to see if it is a Preferred Pharmacy, it could save you money in the long run.

All Prescription Drug Plans list their covered Meds on their Formulary, which is the specific list of Meds covered. They identified by Tier with Tiers 1 and 2 being generic. Not all plan list thier Meds on the same Tiers which is why some Meds will be cheaper on certain plans versus another. Factoring in a “Preferred Pharmacy” can also facilitate additional savings.

Check with your Medicare Advisor, he can check if your Pharmacy is Preferred.

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