On September 1, the new plan year for the Group Benefits Program of the Employees Retirement System commences. In terms of individual impact, it can be complicated, so here is the ERS Web site for the most accurate and timely information. You should be able to navigate around the site to find out what is needed. It might also be a good idea to subscribe to ERS e-mail updates for higher education employees. As reported here before, the agency's trustees may decide eventually to make additional adjustments to co-pays, prescriptions, deductibles, etc., to contend with cost increases and a grim budget picture for the next biennium. If so, it will be reported here.
ERS posted an announcement recently directed at those with dependent coverage who may wish to fill or re-fill prescriptions before the deadline, as deductibles are set to start over on Sept. 1. It could mean saving some money.
Here is the text of the announcement:
Remember that from September 1 to August 31, you and each of your covered dependents must pay separate $50 deductibles before the plan begins to cover drug costs. For example, if you have two dependents, you would have a total family deductible of $150 per plan year for prescription medications if all of you fill at least $50 worth of prescriptions.
One of the best ways to save money on your health care is to make sure you take generic drugs whenever you can. Always consult your doctor before switching medications. New generic drugs come into the market all the time. It’s important to know when generics become available, because they generally cost less, and they have the lowest copay. Plus, if a generic is available and you buy the brand-name drug instead, you will pay the generic copay plus the difference between the cost of the brand-name and the generic drug.
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