Will the Insurance Company Reimburse for the Rx Prescription Discount Card?

When you use a prescription discount card to save on your prescriptions, you choose not to use insurance. Therefore, it is considered an out-of-network, cash purchase, out-of-pocket while using the insurance company. However, you might be eligible to be reimbursed if you are willing to do a little paperwork.

Using an Rx discount card can be helpful to afford medication if you have a high deductible plan, if your insurance does not cover a medication, or if the price is lower than your copay for the treatment. Also, it is crucial to note that this process is different from ‘split billing,’ which means using two different insurance plans, as prescription discount cards are not the insurance.

                         

How to get reimbursed for a prescription?

Whether an insurance company reimburses you for a prescription will depend on their policies. Most health insurance plans will reimburse you for a prescription if you:

 ·   Got billed incorrectly by the pharmacy

 ·    Purchased medication outside the US

  ·   Didn’t have an insurance card

 ·    Waited for a drug approval

 ·   Paid for a compound prescription

 

 ·   Used a non-participating pharmacy

You may also let your insurance company know about the price with the prescription discount card company about how cheaper it was compared to the insurance cost. You may also be eligible for reimbursement if you receive prescription benefits through Medicaid or Medicare.

Many insurance companies need you to send requests for reimbursement within a specific time after you fill up your prescription.

There is a possibility that insurance policies vary, and your results may differ depending on the agent who will process your insurance claim. In addition, there’s a possibility that your insurance may decline to reimburse you. It may also happen that the company may apply your payment to your deductible; in this case, contact them for enhanced information or repay you.

It may happen that you do not get your money back; you can rest easy knowing you spent less with the best prescription discount card than you would have out-of-pocket.