BMS Insurance cost of Medications

Just a reminder to my former fellow employees; don't forget about co-pay cards. Our current insurance wanted $200 for three months of medication for two different products. Getting co-pay cards dropped the price to $10 a month for one and $25 a month for the other. CVS will not remind you about this because it is cash in their pockets every month. Do yourself a favor and get co-pay cards.

 

Great point--thanks for sharing! I assume this only helps for products still under patent protection? Even with our old, good insurance, I know I paid quite a bit for patent-protected products.

Too bad the very best health insurance we can get now has ridiculous out-of-pocket costs--it's full cost cash until the out-of-pocket limits are met (e.g., $7k for out of network!! ). Last year I could go anywhere (including out of network) for $30--no exceptions, no referrals: $30 for anything and everything.

 

having left BMS this year, their health insurance coverage sucks compared to where I'm at

 

It is amazing to me that CVS never suggests that you should try to find a copay card for the expensive medications. They are a for-profit company of course, but they still turn a nice profit without resorting to this. I understand buyer beware---but this suggests to me that their focus is entirely on maximizing profits and very little on their patients. Retirees do what they can to save money and this comes to a LOT of money for many patients. Tell your friends, family, anyone about copay cards from Manufacturers. They can save you a LOT of money. And shame on CVS for not reminding their customers that there is a tremendous savings available to them.

 

I'm fairly new to BMS and I'm shocked at how much health insurance and drug coverage out of pocket costs are here. I think we have the west plans in the industry.

 

The Caremark relationship with CVS might be affecting this. PBMs like Caremark contract with payers and their job is to keep pharmacy costs down. It would be interesting to figure out what relationships Caremark has with payers and if there are any incentives for Caremark to keep costs down. I bet there is.