Some of the drug treatments available today, while providing tremendous relief to those who suffer from the illnesses they treat, can be extremely expensive and pose an economic hardship for the individuals receiving these treatments.
In response to this, the PSHCP’s Drug Benefit includes catastrophic drug coverage. This coverage provides added protection for those with exceptionally high prescription drug costs during a calendar year.
Once you have paid $3,000 out of your own pocket for eligible prescription drugs in any one calendar year, reimbursement of additional eligible prescription drug expenses incurred in that year increases from 80% to 100%.
All eligible prescription drug expenses incurred by you and any of your covered dependants will be used to calculate your annual out-of-pocket maximum. For example, if you have family coverage under the plan and your prescription drug costs are $27,000 a year, with the catastrophic protection you will be reimbursed $24,000 instead of the $21,600 you would have received otherwise, for an additional $2,400 in coverage.