We're living in a time when prescription drugs are more popular than ever, but unfortunately, popularity does not always lead to affordability. Even if you don't have a chronic condition that requires prescription drugs, it's always a good idea to understand your health insurer's policy on prescription drugs. If you're still shopping for a policy, it's important to consider drug coverage before you make a final choice.

How Insurers Cover Prescription Drugs

There are, of course, many health insurance policies that don't have any drug coverage at all. These policies are usually quite a bit cheaper, but in the event that you need a prescription, you will be forced to foot the entire bill. For short illnesses and injuries, this doesn't always have to be a major problem--there are plenty of generic and imported drugs available that are affordable for short-term use.

If you suffer from or develop a chronic illness, it is crucial that your medical insurance has some sort of drug coverage. It's relatively easy to find a plan with prescription drug coverage; just be careful you fully understand that payment options and limits. Unless you're buying a high-end expensive insurance plan, you will probably be responsible for paying some part of the cost of your drugs.

Most insurance policies have a deductible and/or a co-pay amount when it comes to buying drugs. For instance, you may be required to pay the first $100 for drugs in any given year, after which the insurance company will cover 70 percent of the cost. Insurers usually also have different rates for generic and brand name drugs; they will pay a larger percentage if you are willing to use generic drugs.