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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.

Short on Vaccine, Tall on Profit?

November 03, 2009 By: Tylar Masters Category: H1N1 News, Medtipster

blackout03

Satellite Image of the Blackout of 2003

Will shortages of seasonal flu and H1N1 vaccines cause cost increase?

The State of Connecticut’s Attorney General Richard Blumenthal wrote inquiries to 13 different manufacturers of the seasonal flu vaccine, in an effort to ensure the price of these immunizations are staying at the national average price. His office has received complaints that suspect previously negotiated agreements between manufacturers of the vaccine have been reneged, causing clinics and pharmacies to stop offering shots, increase the price, or altogether close doors to consumers.

In my last blog, I showed you a picture of a large retail chain’s pharmacy posting of an 8.5” by 11” white sheet of paper with a typed notice, “FLU SHOTS CANCELLED.” Is this an indication that manufacturers and suppliers are going to pull a “black-out” on us? Remember August 13, 2003 when most northeast and midwest states were powerless for hours and, in some cases, days? Remember what happened at gas stations? In Michigan, we saw lines of cars stretching for a half mile from gas stations to fill up on gas for over $5.00 a gallon!

Will flu shot prices double or triple at some pharmacies? Think about this: a neighborhood pharmacy in a small town knows the vaccine is limited, and there is an easy way to double or perhaps triple a profit. Will they do that to their customers? Will you know if these prices are standard in comparison to the other chain pharmacies, like CVS, Walgreens, Wal-Mart, or Target?

Price comparing on vaccinations is not as easy as price comparing a new washer and dryer from Sears. You won’t get Progressive Car Insurance’s “price comparison” leader board when you walk through your pharmacy’s door. You can’t place a bid on EBay for your healthcare. And definitely don’t expect to see William Shatner, aka “priceline negotiator,” standing in your hallway ready to break out the best deal for you on your healthcare, vaccinations or prescriptions! He’s just good for deals on vacations, you know, since we can all afford* to take one!

Medtipster.com is the only website specifically designed to locate these vaccinations for you, at the lowest cost available, in your neighborhood. Don’t spend hours calling pharmacies, searching online or driving around when www.medtipster.com has the information you need.

*Sarcasm.

Tylar Masters
Manager of Marketing and Communications
Medtipster, LLC.
email: tmasters@medtipster.com
web address: www.medtipster.com

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