Prescription Drug Coverage
A prescription for improving employee wellbeing.
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 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.
98%
of workers
with employee health insurance are at a firm that provides prescription drug coverage in its largest health plan
20%
with prescription coverage
are not satisfied with their drug benefits.
19%
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.
Coinsurance plans cover a percentage of an employee’s prescription drug costs once they meet a minimum deductible.
Copay plans require an employee to pay a certain copayment for each prescription filled, but without having to meet a deductible before being covered.
Coinsurance plans cover a percentage of an employee’s prescription drug costs once they meet a minimum deductible.
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.
Additional Employee Health and Wellness Benefits services include
Disability Insurance Policies
For employees who need support in long-term illness or injury.
Learn more
see possible
We can answer your questions about employee benefits and provide expert advice about your coverage options.
With more than 350 partner locations
across the continental US, we’re always here to help you
pursue your business goals with confidence.
