Push for Generic Substitution.
It might just be a fast way to reduce the cost of your health plan!
There’s a secret out there that your company might be able to benefit from. If you’re part of deciding your company’s health benefits package, or you can make an impact on the decision-making process, you should consider advocating for “mandatory generic substitution.”
How much can you save your company? Well, put it this way, generic medicine often costs less than the equivalent brand name drug, sometimes as little as 10%. (Reference 1 see below). If you think about all the prescriptions for all your co-workers and their dependents, all year long…The savings can often add up fast.
How Does it Work?
It makes generic substitution mandatory
It can save money
It can add up
Want to help your employers potentially save money?
Mandatory generic substitution could deliver savings for your company.
The money saved through generic substitution could even be used to enhance other benefits, such as dental and vision care. It could be a win-win.
Adding the “mandatory generic substitution” clause to your benefits plan is possible. This one policy tweak triggers all the additional savings generic prescriptions can provide, while still being as safe and effective as the brand-name versions.
Reach out to the decision-makers at your company and let them know about this important little secret that could unlock savings.