Members may have reduced cost-share amounts on certain formulary tiers when utilizing preferred pharmacies. Is this statement true or false?

The statement is true because many Medicare Advantage and Part D plans offer reduced cost-sharing amounts for prescription medications when members use preferred pharmacies within their network. Preferred pharmacies typically negotiate better pricing with pharmaceutical companies, which allows them to pass savings on to members. This arrangement not only encourages members to utilize these specific pharmacies but also helps to reduce out-of-pocket expenses. By leveraging a network of preferred pharmacies, plans can manage costs more effectively while providing benefits that enhance access and affordability for members’ medications.