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Issue: # 24 November 26, 2008
78 pleasant
Greetings!
 
 
Special Announcement on Prescription Drugs! 
 
This is a special announcement e-newsletter regarding Prescription Drug Coverage.
 
Our economic crisis forces all of us to look at ways to save money. Employers who offer group health insurance have a Prescription Drug Plan automatically included.  Advantage Benefits wants our clients to be aware of another alternative for employees.  For generic drugs only, employees may also use Wal-Mart Pharmacies and Sam's Club to fill prescriptions.  This does not replace or change existing Prescription coverage through your carrier, but is a Free alternative with low co-payments.  Please review the information below.
 
IF you have any questions, email Bill  or Vanessa.  To learn more about Advantage Benefits, click here.  Many of our clients have found these newsletter to be quite helpful and we have now set up a link to hold all of the archived newsletters on-line that can be accessed at anytime.
 
IF you know anyone who may find this information of interest, please forward them this newsletter (there is a link on the bottom), and they can subscribe themselves.
  
 
Sincerely,
 

Bill Randell, CLU, CHFC             Vanessa Costa, CLU,CHFC
Advantage Benefits Group, Inc. 
WAL- MART Prescription Drug Program
Worth taking a look at for Generic Drugs
 

Use as an Option to your Primary Insurance Carrier's drug coverage.
 
For the last decade we've seen health insurance premiums continue to rise.   One of the main contributors to escalating premiums is the cost & utilization of Prescription Drugs.  Carriers have also increased co-payments on the 3 levels of coverage & have taken away some of the advantages of the Mail order program.  At one time Blue Cross Blue Shield offered tremendous savings for their mail order service. Insureds could purchase a 90 day supply for just 1 co-payment, as opposed to paying 3 co-payments direct at the pharmacy. Now, similar to Harvard, Tufts & Fallon, the mail order co-pay for a 90 day supply is typically 2 co-payments.  
 
Blue Cross has eliminated the enhanced mail order option for small groups under 50 employees, but this option may be purchased for larger groups at an additional cost. 

Advise Employees of Generic Drugs Available at Wal-Mart 
Ask physicians if there are generic equivalents
As we struggle with rising premiums, one way to save your employees money is to promote this low cost alternative for Generic Drugs.  This is not meant as a replacement to your current carrier's drug plan, but as a lower cost alternative for Generic Drugs Only.  There is no cost to use the Wal-Mart generic plan and you do not need to get an Identification card.  In fact, even those individuals with no health insurance can go there for a prescription. 
 
Basically you can bring in a prescription to Wal-Mart Pharmacies and even Sam's Club and they will fill it - Per the telephone calls that our office has made to local Wal-Mart Pharmacies, they have told us " it is that easy. " 
 
Co-payments for a 30 day supply are $4 and in some cases a 90 day supply for $10. 

If anyone has additional feedback and has used this service please let us know.
 



Check out the Following Links
Make these links  available to your employees to see for themselves
 
To see the current listing of 350 generic drugs, click here.
 
To get the Wal-Mart Fact Sheet from their Web SIte click here.
 
To go direct to the Wal-Mart Phamacy site click here.
 
Just like you, we are employers too, and understand the complexities of running a business.  We encourage you to Promote this program to employees.  Everyone needs to look for opportunities to save money.  In fact, encourage employees to engage conversation with their physicians on the use of generic drugs and make sure they are taking advantage of this option.