NEWS: According to Harbor Compounding Pharmacy, many insurance plans are dropping coverage of compounded medications — but some insurance plans still do cover for these custom formulations. Harbor Compounding Pharmacy provides resources and referrals to patients to find insurance coverage for their compounded medications during open enrollment 2016.
Healthcare open enrollment is coming up from November 1, 2015 to January 31, 2016, and many patients on compounded medications are wondering if their current insurance, or any insurances at all, will cover for compounded medications. In the past, most insurance plans included coverage of compounded medications. However in the past few years, insurance coverage for compounded medications has been dwindling, but there is hope. There are some existing insurance plans that still cover for some compounded medications.
Harbor Compounding Pharmacy has helped many patients try to understand insurance coverage for their compounded medications. If patients are wondering if their plan covers for compounded medications, they must inquire if the plan covers for compounded medications made from “bulk ingredients.” This means the insurance plan will cover for compounded medications that are made from pure ingredients, in other words made from scratch. Harbor Compounding Pharmacy also suggests patients call their insurance agents and further inquire if they have had experience signing up patients with compounded medications and have those compounded medications successfully covered by any insurance plan.
Harbor Compounding Pharmacy is currently working with select California insurance agents with experience finding coverage for compounded medications for their patients. If patients are on compounded medications and are in need of a referral to an insurance agent, the patient can contact the pharmacy or go to the pharmacy website to find out who is available to service them. Because insurance plans vary from state to state across the country, patients must work with insurance agents who are familiar with the insurance plans within their state. Harbor Compounding Pharmacy is continuing to look for partnerships with insurance agents experienced in finding coverage for compounded medications.
Overall, insurance coverage for compounded medications may be limited, but it is not impossible to find a plan that will cover for these custom compounded formulations. Open enrollment may seem far off, not ending until January 31, 2016, but doing the research to find the right insurance plan can be a lengthy process, thus patients should start inquiring as soon as possible. Harbor Compounding Pharmacy is open to helping current and new patients connect to the right resources and to the right people to make this process easier. If patients have questions regarding if their existing insurance plan covers for compounded medications at all, they should contact the pharmacy.
More information: http://harborcompounding.com/.
Twitter: @harborrx
This version of news story is Copr. © 2015 eNewsChannels™ (www.enewschannels.com) and the Neotrope® News Network – all commercial and reprint rights reserved. Unauthorized reproduction in whole or in part without express permission is prohibited.
