If you’re experiencing problems with erectile dysfunction, chances are you’ve heard of Viagra. After all, it was the most popular drug in the world in 2012, with 28.2 million prescriptions written.
While most people know what Viagra is and how it works, fewer know that their health insurance may not cover the cost of the drug. Finding out that your healthcare provider won’t cover the cost of Viagra can leave you feeling frustrated and even a little bit angry.
Viagra and Your Health Insurance
Like many other medications, the cost of Viagra tends to show up on your medical bill as a charge called “out-of-pocket” cost. This is the amount that you, as the patient, have to pay for the medication yourself. It can be both frustrating and difficult to find out what your healthcare provider won’t cover before you’ve already spent hundreds of dollars on private prescriptions.
Fortunately, if you’re experiencing problems with erectile dysfunction and want to try Viagra, you have several options for affordable healthcare coverage. We’ll discuss three of them below.
PPOs, HMOs, and Medi-spa
One of the most popular methods of delivering healthcare in the United States is through a group insurance policy known as a PPO. A PPO is a form of insurance that provides coverage for outpatient healthcare services. The most popular PPOs offer savings of 25% or more off the standard cost of medical care. Some companies that offer PPOs even include coverage for prescription drugs in the form of a discount card called a “Preferred Provider Organization (PPO) Drug Card.”
If you have a PPO insurance policy, you should know that not all out-of-pocket costs are covered by your plan’s insurance. This can include costs related to surgery, emergency room visits, and hospital stays. However, PPOs usually do cover the costs of medications like Viagra. As long as you have proper documentation of your condition (like a letter from your doctor), your health insurer should be more than willing to cover the cost of Viagra.
If You’re Out-of-Network, Try a Healthcare Spending Account
If you haven’t heard of healthcare spending accounts, they’re essentially checking or brokerage accounts designed for medical expenses. One of the biggest advantages of a spending account is that it gives you a separate fund to store and budget your money in. When you reach a certain level of spending, the healthcare provider will usually send you a rebate check in the mail. This is all made possible by the government as part of the Affordable Care Act. Healthcare spending accounts are a great option for anyone who needs help paying for expensive medication that their insurance coverage doesn’t include.
Try A Healthcare Savings Account
Another way to get healthcare coverage for expensive medication like Viagra is to open a healthcare savings account. A healthcare savings account is a type of account that people with employer-sponsored insurance can save their money in order to pay for future healthcare costs. The money in the account can be used to pay for any medically necessary cost that the patient deems worth it.
You can also use your savings from a healthcare savings account to pay for a standalone healthcare insurance policy. This is different from the PPOs and HMOs discussed above because it works on a completely independent basis. It is also generally accepted that healthcare savings accounts offer better financial security than other forms of insurance. If this is the case for you, opening a healthcare savings account is a must.
Even though there are several ways to get healthcare coverage for Viagra and similar medications, it is still not universal coverage. Some people are still forced to pay the full cost themselves because their insurance doesn’t cover it. Luckily, if you’re able to get insurance coverage for Viagra, there are options to get the medication for free or at a greatly reduced cost. Just know that you’ll need to do some research before settling on one of these options so that you don’t end up spending more than you need to.