Cigna's online Prescription Drug Price Quote tool will help the health insurer's members save more money by offering prescription discount coupons on generic drugs as well as real-time price comparisons.
Eligible Cigna Pharmacy Management members will have access to electronic generic prescription discount coupons by logging onto their myCIGNA.com Website.
Once on the myCIGNA.com pharmacy Web page, Cigna members in self-funded plans that participate in the "Save with Generics" program can download a coupon for a reduced co-payment on their first fill of various generic medications.
Thom Stambaugh, CIGNA's chief pharmacy officer, said CIGNA Pharmacy Management has one of the highest generic use rates in the industry.
Loral Space and Communications of New York implemented many of CIGNA Pharmacy Management's "Save with Generics" programs and was reportedly able to achieve a 74 percent generic conversion rate, resulting in a 6.6 percent reduction in their drug trend in 2007. "In the past, our employees were (offered) only mailed coupons, which they may not have been able to find when they went to re-fill their prescription, so there was a lost opportunity to save," said director of benefits Mandy Capogrossi. "We believe the ability to access online coupons when people need them will make it easier for our employees and lead to even greater savings for them and for the company."
CIGNA's Prescription Drug Price Quote tool will also enable members to compare prices for brand name medications, available generics and low-cost therapeutically equivalent drug alternatives at local pharmacies and at the CIGNA Tel-Drug Home Delivery Pharmacy.
Members can view costs in a side-by-side format that highlights savings opportunities and applies co-payments, co-insurance, deductibles, plan maximums and specific drug coverage based on the member's specific benefit plan.
"These additions are part of our ongoing efforts to give members the information they need to make the best possible decisions about their healthcare," said Stambaugh. "By making the information easier to use and more complete, we believe that even more members will decide to save money by converting to generic medications."