CIGNA survey shows employees in small business look for ways to save money on medication

Oct 5 2009

A recent CIGNA survey of consumers across the country found that employees at small companies are more likely than those employed by larger companies to look for ways to save money on prescription drugs. The same study found that 60 percent of consumers are willing to spend 30 minutes on a Web site comparing costs and services if it will save them $100. Yet, only 40 percent say that they have actually compared prices for their prescriptions, even though switching from a brand name drug to a generic drug can save $200 per year on average per prescription.

Additional survey findings include:

• Employees of smaller companies are more likely than those employed by large employers to ask their doctor (65 percent) and pharmacist (61 percent) for ways to save money.
• Regardless of the size of their company, men are more likely (43 percent) than women (30 percent) to take what their doctor tells them to without asking questions about generic alternatives.
• Compared to those employed by larger companies, people who work at smaller companies are also more likely to ask their physician for the most cost-effective drug.

“Consumers, especially those employed by small companies, want information on ways to save money on medications. That’s why we offer options to help customers save money on their prescription drugs,” said Kurt Weimer, president for CIGNA's individual and small group business. “CIGNA's customers have access to the company’s online prescription drug price quote tool where people can compare generic and brand name prices at local retail pharmacies or from CIGNA Tel-Drug Home Delivery Pharmacy.”

A separate survey from CIGNA found that when consumers did comparison shop, only one-third (31 percent) used the Internet to compare drug prices. Of those who do use the Internet to comparison shop for drugs, more than one in five (22 percent) were between the ages of 18-34. “Our goal is to help employers and their employees get the information they need in a manner that works for them,” adds Weimer. “That’s why we also offer tips to help people speak to their physician about generic drug options and provide access to nurses to answer questions by phone.”