Prescription drug coverage options
Principal Life offers a wide range of prescription drug expense insurance options. In fact, they 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.
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. They work with healthcare providers to promote positive health outcomes and have 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 including:
- Potential interactions between different drugs
- Date you last filled the prescription
Three tier co-pay structure (not available with HDHP designs)
Tier 1 |
Lowest copay |
Tier 2 |
Mid-level copay |
Tier 3 |
Highest copay |
For more information
- Contact your employer or human resources representative
- Call the 1-800 number on your insurance or member ID card
- Visit the Caremark website
*HDHP designs cover prescription drugs the same as any other medical service - after you pay the calendar year deductible, coinsurance applies.
