HSA-type Insurance Prescription card filter:Higher cost of medication with Rx card
December 6, 2012 6:17 AM Subscribe
HSA-type health insurance from Oxford, Paying more for prescription medication than out-of-pocket
Recently, my health insurance was changed to HSA-type from EPO-type. It has $4000 deductible towards doctor's visits, prescription medications and hospital visits. Thereafter co-pays kick in. My income is about $68K. The question is 2-fold.
1. I take prescription medications for my chronic condition. The cost of medication with Medco is higher with my insurance prescription card than me just buying the same medication from CVS or Walmart out-of-pocket. Medco told me that if I buy out-of-pocket then that amount will not be reimbursed towards my insurance deductible. The total annual difference will be about $500. I think its very unfair that I pay the insurance premiums and yet pay more for my medication! I am curious what I can do about it? Is there any way to complain about this, like some government body?
2. With this new change in health insurance, my small business employer informed me that this $4000 will go towards tax deductions and I am still confused about it, on how and what amount? It will be great if someone can flash some light on it