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Does Your Employer Prescription Plan Cost You… Nothing At All?

February 03, 2010 By: Tylar Masters Category: Free Prescriptions, Prescription News, Prescription Savings

Generic drugs save people hundreds or even thousands of dollars each year, but did you know you could be paying absolutely nothing out of pocket, and your employer’s cost could be significantly reduced – both at the same time.

By now you’re familiar with Medtipster.com. We encourage generic drug purchasing over brand name drugs because they are just as effective, and cost less. You also know where to find your generic prescription at the lowest cost, right in your neighborhood.

If you have insurance, the cost of a generic for you could be a $15 co-pay, and your employer eats up the remainder of the cost, which is an average of $17.00. If you’ve found your generic on a $4 generic program by using Medtipster.com, you pay $4, and your employer pays nothing. We know you love Medtipster.com, but now we want your employer to love Medtipster.com too!

Free prescriptions have been our thing lately, in case you haven’t noticed. Thousands of Michigan residents have received free prescriptions since the beginning of December 2009. We are almost ready to take this free prescription giveaway nationwide, but first, we thought of another way to encourage generic drug purchasing, and you don’t have to be a Michigan resident to take advantage of this program. It’s called the Medtipster MVP.

With this program, employers partner with Medtipster.com to essentially give their employees free prescription cards, redeemable at pharmacies that employees themselves locate on Medtipster.com. The idea is to encourage generic drug purchasing over brand name drugs, and to reduce current and future healthcare costs to the employer.

It works like this example:

Sandy takes Zocor.

Sandy works for ABC123 Inc. and they have partnered with Medtipster.com.

ABC123 informs Sandy that her prescription is available for free if she logs on to the company website portal.

Sandy locates her generic equivalent at her neighborhood pharmacy, then prints out her custom ID card from the company’s privately labeled Medtipster.com site.

Sandy takes her ID card to this participating pharmacy and receives her prescription for Zocor generic equivalent for free.

Because the participating pharmacy has Zocor on a $4 generic program, Medtipster sends ABC123 an invoice for $4, plus a small administration fee.

Looking back at the example in the second paragraph above, this saves the employer an average of $17 per employee’s generic prescription. If you work for a company that employees 1,000 people, and half of those employees take a monthly generic prescription, they spend on average $102,000 each year covering “remaining” costs of their employees’ prescriptions. With the Medtipster MVP, the same company would spend an average of just $24,000 each year, for the SAME generic prescriptions! That’s $78,000 A YEAR!

$78,000 A YEAR.

I like to repeat myself when it sounds that good.

If you would like to see your employer save this kind of money every year, and get free prescriptions, let us know what you think. Let us know who we should talk to at your company about implementing this program. Let’s save some money, and change the way we think about prescription plans.

I love this job!

November 16, 2009 By: Jason A. Klein Category: Free Prescriptions, Medtipster

Jason Klein

Jason Klein

In a recent blog post on 10/5/09, I made the following comment: “Now the trend appears to be to offer FREE prescriptions. REALLY! We’re all in!”

This comment was in regards to Stater Bros., Albertsons & Meijer pharmacies. These pharmacies offer certain prescriptions for free, such as antibiotics and prenatal vitamins. What I wasn’t doing was offering free prescriptions at medtipster.com.

We don’t actually sell anything, let alone prescriptions on our site. We are a purely informational site that hopes to engage consumers with relevant information for the right reasons, at the right time. If we don’t even sell them, giving them away for free certainly doesn’t fit into our business model. Or does it!?!

I received what felt like a thousand emails from our consumers asking how they could sign up to get their prescriptions for free. GULP!

Whoops! Did I actually imply that this is what we we’re doing and more importantly did that many people actually read my blog post? Apparently so.

As the new president of Medtipster, I certainly couldn’t let that many people down, so I had to think fast.

How do I offer FREE prescriptions to consumers that need them? First step was to engage the pharmacies. There was no way they were going to go for this, but I had to try.

My pitch went something like this: 

Jklein: “Thank you for your time today Mr./Mrs. pharmacy VP. I have an issue. I have thousands of consumers looking for relief on their prescription cost.”

PharmaVP: “Define relief?”

Jklein: “FREE?”

After much laughing, the conversation continued….

Jklein: “Thousands of people have contacted us at  www.medtipster.com looking for pharmacies offering “their” medications at the lowest price. It sounds cliche, but times are tough and people need us now more than ever. What’s the value of  a “bellybutton” walking into your store? We know whom these people are & what drug they’re looking for. Partner with us and I will drive them to your store. 

PharmaVP: “Can you be more specific on the number of people?”

Jklein: “Thousands….”

After a long awkward pause, the conversation continued….

PharmaVP:  “How many FREE prescriptions would you propose our pharmacy give away?”

Jklein: “Up to you. How many “bodies” do you want in your store?”

PharmaVP: “Okay. Let’s give it a go.”

The rest is, as they say, history.

Effective December 1st, 2009 Medtipster (via a partnership with American Sweeps) will be the engine offering Michigan residents access to free medications at select Michigan pharmacies. Consumers will search for their medications & register on medtipster.com. Selected consumers will receive a Medtipster email with a link to a voucher that can be used to redeem their medication at no cost. The voucher will specifically tell enrolled consumers which pharmacy has their selected medication.

This is our beta-test and will be running from December 1st- 31st. The intent for this campaign is to repeat monthly in Michigan, among other states throughout 2010.

Register at www.medtipster.com

So again… “Now the trend appears to be to offer FREE prescriptions. REALLY! We’re all in!”

Thank you for your time, your comments and happy browsing at medtipster.com!

JK

Jason A. Klein
President
Medtipster, LLC.
email: jklein@medtipster.com
web address: www.medtipster.com

Free prescriptions? Really? Can’t beat FREE.

October 05, 2009 By: Jason A. Klein Category: Free Prescriptions, Medtipster

Jason Klein

Jason Klein

We at Medtipster have been monitoring the discounted generic programs offered by many of the retail chains for years now. Of course we have, it’s our business. Kroger, Target, Walmart, etc… offer $4.00 30 day supplies and $10.00 90 day supplies… Take it from a “lifer” in the Rx business, THAT’S AN AMAZING PROGRAM! We have several large employers in North Carolina that have instituted managed Rx plans on top of their current PBM / Rx program in an attempt to steer their folks to low cost generics. For more information, please contact us. We are huge fans of you BCBSNC (Blue Cross Blue Shield of North Carolina) & would love to work with you!

Now the trend appears to be to offer FREE prescriptions. REALLY! We’re all in! Meijers in the midwest has been doing this for years and is extremely succesful. Now Stater Bros. & Albertsons are getting in the game. Kudos to you! Our goal is to get prescriptions in the hands of consumers that need them and at the right price. Sounds like that meets our criteria.

Best,

JK

Jason A. Klein
President
Medtipster, LLC.
email: jklein@medtipster.com
web address: www.medtipster.com

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