Tag: prescription drugs

Biden-Harris administration calls for reduced commercial insurance drug costs

Ben Jones
Commercial Insurance - Prescription Drug Costs

This would mean changes to the way the Inflation Reduction Act affects prescription medications. The Inflation Reduction Act prescription drug law developed by the Biden administration went into effect August 16, 2022, and now the president is seeking to use it to scale back prices for commercial insurance as well. The law provides relief for people with Medicare The Inflation Reduction Act lowers prescription drug costs for people with Medicare, while solidifying this program for its users moving ahead. The portion of the law reducing the cost of prescription drugs…

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Does Insurance Coverage Cater To Cancer? All You Need To Know

Guest Author
Does Insurance Coverage Cater To Cancer?

The unfortunate thing about cancer is that it does not discriminate. It can affect anyone at any time, and often with little warning. And this makes it all the more necessary to have adequate health insurance coverage if you or a loved one should ever be diagnosed with the disease. Most health insurance plans will cover at least some of the cost of cancer treatment, but the coverage can vary significantly from one plan to another. It is necessary to know what your policy covers and doesn’t so you can…

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New laws may affect Health Savings Account payments

H. Cutner
New laws may affect Health Saving Account payments

Recent changes to health care laws will affect the medication you can purchase using your health savings account.  In the future, you will need a prescription to receive reimbursement for purchases of many over the counter drugs, like cold medicines and pain relievers.  If you need to purchase medications that normally would require a prescription, like insulin or blood pressure medication, it will not be affected by the new law. According to the IRS, there is no way to prove the over the counter drugs were prescribed.  So in the…

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