How a health insurance plan pays for prescription medicine (Rx) is important. Unfortunately, standard descriptions rely on a lot of technical terms. Four words you’ll need to know in order to understand your health insurance’s prescription benefits: Brand, Generic, Formulary, and Deductible. With this video I wanted to make those terms understandable in a graphic or visual way.
Prescription Medicine (Rx) Video
About the Author: Bruce Jugan
Bruce is an expert in group medical insurance and employee benefits for small to mid-sized companies. He's been a licensed agent/broker since 1993. Bruce has written all of the content on BenefitsCafe.com. He and his team help employers select medical plans; communicate information to employees; stay in compliance with various rules and regulations; and solve benefits-related problems that may arise.