Investigating Insurance Policy Changes in the New Year
January can usher in many changes, including policy changes to your health insurance. Patients with chronic conditions or those taking medication on a regular basis, face potential changes that can be quite stressful. Here are some tips to help navigate possible changes to your policy, so you are not hit any billing surprises.
Your Deductible Resets January 1
If you have a policy beginning January 1, your deductible will reset. Copays may change or be higher than the previous month until your deductible or out-of-pocket costs are met.
Pharmacy Processor May Change
Even if your medical insurance plan is not changing on January 1, there could be a change to your pharmacy processor. Note any changes to your new cards and confirm with your pharmacy. Unexpected coverage changes could disrupt medication delivery and interrupt a treatment plan.
Part B Medicare Deductibles Reset
If you are a Medicare patient, Part B has a yearly deductible that resets January 1. Medications like immunosuppressants and cancer treatments billed to Part B might have coverage changes and affect your out-of-pocket costs.
Communicate With Your Pharmacy
Providing updated insurance cards to your pharmacy at the first of the year can help protect the accuracy of your information and prevent disruptions to your medication delivery. PFSP’s billing experts are here to assist with any changes or updates to your policy. We strive to make it easier to start and keep patients compliant with their therapy, which leads to patients leading longer and more productive lives.
PFSP Specialty Pharmacy provides patients and their physicians an exceptionally high standard of care with our growing team of specialized pharmacists and staff. Our dedicated team of pharmacists focuses on improving adherence for patients and work to find an approach that works best for them. Bringing a fresh take on what a Specialty Pharmacy can and should be, we are committed to the care of our patients. We take pride in being an ethical resource within our community and strive each day to help our patients live enriching and full lives.