Rx Plans
Medicare Prescription Drug Plan (Part D)
Medicare Part D prescription is a drug coverage for Medicare eligible individuals and can be a stand-alone plan or combined with a Medicare Advantage plan (MA-PD). You may only be enrolled in one Part D plan at a time. If you decide not to enroll in a Medicare Part D plan when first eligible, and you don’t have current drug coverage, you could pay a late enrollment penalty. A penalty of 1% per month will be assessed for every month that you did not have coverage and did not enroll in a Part D plan.
Choosing the Right Plan
- Coverage
- Your prescription drug needs are covered by both brand-name and generic medicines prescribed by your doctor.
- If you take a specific medicine not covered in the formulary, they may work with your doctor and pharmacist to find a medicine that works for you.
- Each plan has its own network of pharmacies, so always check to make sure you can get your prescriptions at the pharmacy of your choice.
- Care
- We want you to remain healthy and save money, so discuss your medicines with the pharmacist to ensure you not only have the right medicines, but to confirm that you are receiving generic if possible, to lower your drug costs.
- Cost
- Each plan offers different co-pays, premiums and deductibles. Drugs can be rated differently on competing plans. For example, some plans may have a certain drug as a tier 2 or a tier 3 drug but on another it may be considered a generic. It is very important to go over your drugs with your agent to make sure you get the best plan for your situation. Getting the best plan could save you thousands of dollars every year.
- Convenience
- Most plans offer discounts for 90-day refills.
- Pharmacy network varies for each plan, so check with your preferred pharmacist to make sure the plan you are contemplating is available