Posted on 2016-10-19
If you thought that your healthcare costs were about to go down, think again. Next year America's largest insurance companies will likely exclude around 150 different drugs from coverage.
With already popular drugs like Viagra being dropped by major insurance plans this year, the trend continues as more prescription drugs will likely lose coverage.
CVS Caremark and Express Scripts, the nations biggest prescription insurers, are removing more drugs from their national preferred formularies (list of drugs that they will cover). While you may not have heard of these companies, your healthcare providers certainly have. These prescription insurers handle drug benefits for big insurance companies like Aetna, Humana and Blue Cross Blue Shield to name a few. Any change that they decide to make to their national formularies will affect millions of people across America.
The reason that its happening is because drug companies like Mylan (the one that raised EpiPen prices by 400%) are trying to make as much money as possible while prescription insurers are trying to drive down drug prices. So with drug costs going up because they can, companies like CVS Caremark are threatening to take drugs off of their formularies if the manufacturers wont give them big discounts.
With these prescription drugs being dropped from national formularies you have 3 options:
Here's a list of the new drugs that are not being covered for 2017. For an exhaustive list of all the non covered drugs and coupons for them click here.