Reports From the Field: Plan knowledge affects how consumers look at cost of drugs

Reports From the Field: Plan knowledge affects how consumers look at cost of drugs

Consumers’ drug-buying behavior may be based on how much they know about their personal health care coverage, a Harris Interactive survey reveals.

According to the survey, consumers with low levels of knowledge about their coverage appear to be less price-sensitive when they fill prescriptions, while those who more thoroughly understand their health coverage are more concerned with price.

The survey showed that more than a third of consumers said they didn’t know how their copays were structured.

Only 16% reported that they almost always or often ask their physicians whether the medications are covered by their insurance. Only 4% had changed their prescription plan because a specific drug was not covered.

When presented with the option of a cheaper drug, nearly 60% chose to stay with the more expensive drug. Of those consumers who chose the cheaper drug, 98% said they would change for a price difference of $10 or less.