UnitedHealthcare has announced that it will offer pharmacy discounts to millions of its plan participants when they fill prescriptions through retail pharmacies or home delivery.
In a statement, the company said that the new program will apply to over seven million people enrolled in UnitedHealthcare fully insured commercial group benefit plans, lowering out-of-pocket costs by directly providing consumers with savings from pharmacy manufacturer rebates at the time of purchase.
Beginning January 1, 2019, and on plan renewal thereafter, people enrolled in fully insured group health benefit plans will have discounts applied to their medication cost at the point of sale. The savings will apply to plan participants who are filling a prescription for a drug where the manufacturer provides a rebate.
According to UnitedHealthcare, it will apply savings from rebates upfront, at the time of sale, to ensure people are paying the lowest amount possible under their plan.
Rebates are currently used to keep premiums lower for the benefit of all members and customers, rather than distributed to individual consumers, UnitedHealthcare said.
"UnitedHealthcare is uniquely positioned to deliver new value and clarity to health care, and pharmacy benefits in particular," said Dan Schumacher, president and chief operating officer of UnitedHealthcare. "Our differentiated pharmacy model, powered by OptumRx, is delivering solutions that lead to better health outcomes and make prescription drugs more affordable.
"People use their pharmacy benefit more frequently than any other type of benefit, which means pharmacy provides the greatest opportunity for us to understand and meet their needs," said Mr. Schumacher. "We believe our efforts to enhance value for our customers will not only benefit our members, but the health care system as a whole."
Learn more: www.uhc.com.