Customers are looking for ways to save money on prescriptions, but cash cards and coupons could hurt your bottom line. Here’s how to find a sustainable cash pricing solution that works for you and your customers.
HDHPs are on the rise and customers are looking for alternative payment methods.
AN recent analysis found a 13% increase in people with HDHP in recent years. That means more pharmacy customers are paying attention to the cash prices of their drugs. An HDHP is treated like a different health plan in that more out-of-pocket costs (the deductible) are paid before the plan begins to cover eligible costs. The IRS sets minimum deductibles to define an HDHP; the minimum deductible in 2022 it is $1,400 for an individual and $2,800 for a family.
And yet, studies have shown that actual deductibles can be regularly more than $4500 for a family—significantly exceeding those minimums.