Prescription Drugs–Potential Savings Opportunities

Do you want to save money on your prescription drug costs?  If so, look for your personalized iBenefit Report from Caremark at your home address this week. 

We believe it’s important for our faculty and staff to be aware of the true cost of healthcare.  The increased cost of prescription drugs is the fastest-growing component of Penn’s healthcare costs.  By making a few alternative choices with your prescription drug needs, you may be able to help both you and the University save money.

If you’ve incurred any prescription drug costs through Penn’s prescription drug plan since July 1, 2005, you’ll receive a personalized iBenefit Report from Caremark.  This report shows you the value of your prescription drug benefit from Penn and highlights potential savings opportunities.  Depending on what medications you’re taking and how you purchase them, you may be able to reduce your costs substantially.  Here’s how:

• Use Caremark’s mail order program if you’re taking maintenance or long-term medications.

• Use generics instead of name brands when available.

• Use drugs on Caremark’s preferred drug list (included with your iBenefit Report) when possible.

For more information or for help making cost-effective decisions about your prescription drugs, contact Caremark at 1-800-378-0802 or visit www.caremark.com.

—Division of Human Resources