Ask Dr. Mike: Health Insurance FAQs
Health insurance can be confusing! If you have questions about your health insurance coverage, please email me and I will try and find an answer for you. I may not be able to answer all of your questions but I will try and point you in the right direction.
Why Are Medications Cheaper to Buy in Canada?
Canadian drugs are cheaper than in the U.S., especially for newer brand name drugs. Canadian drugs are less expensive for many reasons, including government controls, drug formulary restrictions, liability issues, and market forces.
Do You Have a Question About Health Insurance? Ask Dr. Mike
Michael Bihari, MD – known to his friends and colleagues as Dr. Mike – answers readers’ questions about health insurance. Topics include everything from how to select a health plan to the impact of health reform and how to save money.
What Is a Drug Formulary?
A drug formulary is a list of generic and brand name drugs that are preferred by your health plan. Since your health plan may limit the medications it will pay for, it is important for you to understand your health plan's drug benefit and formulary.
Generic Drugs - Can I Save at Walmart and Other Big-Box Stores?
Generic drugs can save you up to 80% on the cost of your medication. Big-box stores such as Walmart and target have generic drug programs, which offer a 3-month supply of many generic drugs for $10.00.
Are Health Insurance Premiums Tax-Deductible?
If you're self-employed, the answer often is yes -- the premiums you pay to cover yourself and your dependents probably are tax-deductible. They are not, however, if you, your spouse or your dependents are covered by another employer's group plan.
