Access to prescribed medications: A benefit of Obamacare. The law known as Obamacare (ACA, for short), whose enrollment period begins on November 1st, prohibits health insurance companies from denying coverage or increasing premiums based on pre-existing conditions. This means that individuals with chronic or severe conditions can access essential treatments and prescription drugs without fear of rejection.
It’s important to highlight this aspect of the law, as we often overlook that one of the benefits of the ACA is access to prescription drugs, which is crucial for reducing out-of-pocket expenses in treatment.
However, there are limitations as well. One of the main ones is that not all drugs are covered equally. Each insurance plan under the ACA has its list of covered drugs, known as a “formulary.”
This means an essential medication for an insured individual might not be included in their plan’s formulary, resulting in significant expenses.
If you are already enrolled in a plan, you can find out about access to your prescription drugs by calling the number on your insurance card. During the call, you should have the following information: your member ID number and the name of the prescribed medication with the dosage.
On the other hand, most health insurance companies also have online portals and mobile apps that can help you find the price of a medication based on your current plan’s coverage benefits. While this provides some transparency, it’s still crucial to understand the limitations of your plan and how they can affect your access to medications.
Now that the open enrollment period for Obamacare is beginning, if your doctor has prescribed a specific medication when considering enrolling in a plan, you should check if the medication you need is included in the plan’s formulary. The easiest way to get complete information about any plan under Obamacare is to contact a Univista Insurance specialist. Access to prescribed medications: A benefit of Obamacare.
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