Prescription drug coverage options
Principal Life offers a wide range of prescription drug expense insurance options. In fact, these options are included with all medical insurance benefit designs with the exception of our High Deductible Health Plans*. Money-saving generic drug incentives are included, as well as an easy-to-use mail order service for long-term prescriptions. With the mail order service program, you pay 2.5 prescription drug copays for a 90-day supply for each maintenance drug prescription or refill filled by mail. The mail-order service program does not apply to Tier 4 drugs.
Principal Life has joined with Caremark to help lower the cost of drugs and to encourage appropriate use. As an industry leader, Caremark has developed the nation’s first online, real-time claims processing system. Caremark works with healthcare providers to promote positive health outcomes and also makes programs available to identify potential problems with drug therapies.
When you fill a prescription at a network pharmacy, the Caremark electronically alerts the pharmacist to important information such as:
- Potential interactions between different drugs
- Date you last filled the prescription
Four tier co-pay structure (not available with HDHP designs)
|
Tier 1 |
Lowest copay |
|
Tier 2 |
Mid-level copay |
|
Tier 3 |
Higher copay |
|
Tier 4 |
Highest copay (if applicable) |
For more information
- Contact your employer or human resources representative
- Call the phone number on your insurance or member ID card
*HDHP designs cover prescription drugs the same as any other medical service - after you pay the calendar year deductible, coinsurance applies.
