A good deal on drugs.Byline: The Register-Guard
It pays to be wary of things that sound too good to be true, but in this case, it's safe to take the plunge. Every Oregonian without insurance coverage for prescription drugs prescription drug Prescription medication Pharmacology An FDA-approved drug which must, by federal law or regulation, be dispensed only pursuant to a prescription–eg, finished dose form and active ingredients subject to the provisos of the Federal Food, Drug, will save money by signing up for the expanded Oregon Prescription Drug Program.
The price for an ID card that can save up to 60 percent on the cost of prescription medicines? Zippo. It's absolutely free.
The only catch - if it can even be called a catch - is that the program won't be able to achieve the best possible discounts for participants unless lots and lots of people sign up. The more who sign up, the bigger the savings they'll get on their drugs.
As many as 1 million Oregonians - one-third of the state's residents - lack prescription drug coverage. Every one of them became eligible for the Oregon Prescription Drug Program after voters overwhelmingly approved Measure 44 in November. The OPDP OPDP Online Professional Development Program pool was previously limited to older, lower-income individuals, but Measure 44 removed all restrictions.
Oregon's program is a straightforward bulk purchasing Bulk Purchasing is when products are bought in large quantities. This often results in a lower price per item, or Unit price. Wholesale is selling or related to selling goods in large quantities for resale to the consumer. plan. It isn't an insurance program or a government entitlement. The state simply buys drugs in bulk quantities and negotiates below-retail prices from pharmaceutical companies.
To increase the program's buying power Buying Power
The money an investor has available to buy securities. In a margin account, the buying power is the total cash held in the brokerage account plus maximum margin available.
Also referred to as "Excess Equity. , Oregon hooked up with Washington to form the Northwest Prescription Drug Consortium. That will enable participants to save as much as 60 percent on some generic drugs generic drug, a drug sold or prescribed under the nonproprietary name of its active ingredients or under a generally descriptive name rather than under a brand or trade name. . Savings are expected to average 30 percent on generics and 15 percent on brand-name drugs Noun 1. brand-name drug - a drug that has a trade name and is protected by a patent (can be produced and sold only by the company holding the patent)
drug - a substance that is used as a medicine or narcotic .
The Oregon Prescription Drug Program also has been approved for use by Oregonians enrolled in the Medicare Part D prescription drug plan who hit the so-called "doughnut hole" - the gap in coverage for an individual's drug spending between $2,251 and $5,100. People who fall into the coverage gap have to pay full price for their medications until their expenses hit $5,100. The Oregon plan could significantly lower those out-of-pocket doughnut hole drug expenses.
The program is refreshingly simple. After enrolling, participants are issued an ID card, which they present to their pharmacist pharmacist /phar·ma·cist/ (fahr´mah-sist) one who is licensed to prepare and sell or dispense drugs and compounds, and to make up prescriptions.
n. when filling a prescription. Participating pharmacists This is a list of notable pharmacists.
Now all that remains is for people to get the word out about this innovative cost-saving program. It's in everyone's interest to encourage all eligible Oregonians to participate. Application information is available online at www.opdp.org or by calling the toll free number 1-888-411-6737.