Prescription Drug Coverage

A prescription for improving employee wellbeing.

Prescription Drug Insurance Policies

We can show you how including a good prescription drug plan in your benefits package will help your people stay healthy and productive, encouraging them to seek affordable treatment for health conditions that could affect their work and quality of life.

Prescription Drug Insurance Policies

Prescription drug coverage is highly valued by employees.

Being covered for individual and family prescription drug needs is a valuable part of an attractive health and wellness benefits package.

of workers

with employee health insurance are at a firm that provides prescription drug coverage in its largest health plan

* KFF (2022)

with prescription coverage

are not satisfied with their drug benefits.

** GoodRX (2023)

of workers 18-44

say they would change jobs to get coverage if their employer-provided benefits did not cover the cost of their or a family member’s specialty medications.

*** RX Benefits (2021)

Find the right kind of prescription drug coverage for your employees.

There are several ways to structure prescription coverage to cover your employees and their families. We can help you find the one that makes the most sense for your people and your budget.

Coinsurance plans

Coinsurance plans cover a percentage of an employee’s prescription drug costs once they meet a minimum deductible.

Copay plans

Copay plans require an employee to pay a certain copayment for each prescription filled, but without having to meet a deductible before being covered.

Employee prescription drug benefits can cover different levels of medications:

  • Generic drugs (first-tier)
  • Preferred drugs (second-tier)
  • Non-preferred drugs (third tier)
  • Higher-costs drugs (fourth-tier)
  • Specialty drugs

Frequently asked questions about employee prescription drug benefits.

The Affordable Care Act (ACA) set a standard of essential health benefits, which includes prescription drug coverage on all individual and small group health plans. Large group plans are not required to cover the ACA's essential health benefits other than preventive care. However, most employers provide prescription drug coverage. Your Highstreet agent can help you find the best options for your business or organization.

Different employee health insurance plans cover different categories of prescription drugs. Each plan has a list of medications that it covers. Some may be covered automatically, while others may not be. Talk to your Highstreet agent to learn what level of drug coverage will work for your needs.