FAQ: Should I use a Drug Manufacturer’s Coupon?

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Today’s featured video answers a Frequently Asked Question: Should I use a Drug Manufacturer’s Coupon? Please watch the video at healthcarenavigation.com/videos.

Drug manufacturer’s coupons are provided by manufacturers of expensive brand name medications to provide a discount to the patient at the pharmacy (and thereby encourage them to fill the medication). Unlike Discount Drug Cards, these coupons are designed to be used in conjunction with your insurance (please watch the previous video on Discount Drug Cards if you missed it). Manufacturer’s coupons can reduce your cost share in the deductible and may reduce your copay or coinsurance once you meet the deductible. Of course, if your copay with your insurance is less than what the coupon advertises, you would not benefit from using a coupon.

It is important to note that these coupons cannot be used in conjunction with government insurance programs – i.e., Medicare and Medicaid. However, almost everyone else can and should use them if reducing their drug cost is a priority. Manufacturer’s coupons can be used with individual insurance one purchases on healthcare.gov, a state-based exchange/marketplace, or directly from an insurer and can also be used with group coverage through an employer or union.

Manufacturer’s coupons are usually available without regard to one’s income, so even higher-income Americans may be eligible to use one.

If you are prescribed a brand-name medication and feel your cost share is high, you should enter the name of your medication and the word “coupon” in an internet search engine and follow the link to the manufacturer’s site. Once there, you will likely find an online form where you can enter your information and then obtain what looks like an insurance card. Print this off and take it, along with your insurance card, to the pharmacy when you next go to pick up your medication and you should find that your cost has been reduced. It’s as simple as that!

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