According to a new report, the cost of prescription medications may be higher under the Affordable Care Act. Individuals expected to be affected the most will be patients who have the Obamacare Silver Plan and may be required to pay more than twice as much out of pocket for their prescription drugs.
Those under the Obamacare Silver Plan and who have high insurance deductibles already need to pay 100 percent of their care costs out-of-pocket until they reach their deductible amount. This amount can be as much as $2,000 in some cases, and the overall expense will surpass that of some traditional health insurance plans offered by employers.
The new health insurance set-up under the Affordable Care Act (ACA) is not completely negative. One of the plan’s best attributes is the increased accessibility to preventative care, which can make a big difference for some people who may otherwise face a serious health problem in the future. In many instances, preventative care does not cost anything out of pocket under the ACA. For some individuals, these procedures and check-ups can avoid them the need for prescription medication all together.
Those Who Rely On Medications Will Be Burdened the Most
The main issue with prescription costs under the ACA is that people who depend on medicine for chronic health problems will end up with the highest bills. Unexpected illnesses or injuries could also burden anyone with these more expensive prescription medication costs. The original goals of the Affordable Care Act have been to make health care more accessible to much more of the American population without sending anyone into financial ruin because of a single illness. With the current plan in place, those who rely on prescription medicines will be burdened the most due to inadequate pharmacy benefits. Some of the latest available information also reveals that many aspects of the Silver Plan are more expensive than the average employer-sponsored health care insurance plan.
Many people faced with this situation may be uncertain what to do as a measure of keeping prescription costs down. When opting for generic medicines does not make much of a cost difference, reputable and licensed online and mail-order pharmacies are a viable option. Many of these pharmacies now require a verified prescription and offer only medications that have been thoroughly tested for safety. In some cases of verified international online pharmacies, buyers can save up to 90 percent on the cost of the same medications they need for chronic conditions. Payments are also processed through a secure and encrypted system.96