Every year the top Medicare Rx coverage plans change; this is mostly because the plans change annually. Although, by knowing what to expect, you can stay ahead of the game.
Drugs can be costly, and new brand-name drugs can be the most expensive. With age, you’re more likely to develop chronic health problems that require long-term medications.
Medicare’s standalone Part D plan can give you essential coverage. Rx plans have a monthly premium that private insurance companies set forth.
There may be several plans as well as insurance companies to choose from in your state, although each program is different.
The best plan for you could be the most expensive for your spouse. Spending some time making sure your policy is the best value is a serious recommendation.
Some give you extra benefits when you reach the “donut hole,” while others don’t. The good news is, the donut hole got smaller in 2019.
Plans often have a network of pharmacies that have your medications at the lowest cost. Mail-order drugs could be the savings you’re looking for when it comes to getting your pills.
Your monthly premium will depend on the state you reside in and the plan you select.
Here are some of the top Medicare Part D Rx Plans for 2020:
Humana Medicare Rx Plans
There are three basic Part D plans with Humana:
- Humana Basic Rx Plan has a $435 deductible on brand drugs. This plan would be great for someone with a few generic scripts.
- Humana Walmart Rx Plan offers a low monthly premium and low copays if you fill your prescriptions at Walmart or Sam’s Club.
- The Humana Preferred Rx Plan has a low copay amount on prescriptions filled at Walmart or Sam’s Club and slightly higher copays on prescriptions filled at other network pharmacies.
How do you choose the best drug plan?
An excellent place to start is to find out how much you can expect to pay for the medications you currently take. Insurance companies sort medications into groups, or “ tiers,” and higher tiers come with different coverage.
Common generic medications may be in a tier with a small co-pay, while the new name-brand drug you saw on TV may cost more. Humana publishes “formulary” of the most common medications that have coverage.
You can find the Humana Medicare Rx plan Formulary for 2020 on Humana’s website.
Mutual of Omaha Part D Plans
Mutual of Omaha offers two plans, including the MOO Rx Value PDP and the MOO Rx Plus PDP. The Value policy is an enhanced plan with no deductible on the first two tiers at preferred pharmacies.
The MOO Value drug list is tighter though; aways check your medicine has coverage.
The Basic plan has a $435 deductible; however, a generic tier 1 drug is $0 at a preferred pharmacy or when using mail-order. Further, MOO includes an extensive pharmacy network like CVS, Walmart, and various local shops.
With the high cost of prescription drugs, your plan can save you a lot of money. It’s essential to choose a policy that covers the prescriptions you need and includes your local pharmacy.
Medicare Silver Script Rx Plans
If having an extensive network of pharmacies is your goal, consider Silver Script. They have a preference rate available at CVS, Walmart, Weis, Wegmans, and Drug Mart.
Also, no notable chains are out of network with the Silver Script Choice plan. They include over 65k pharmacies.
Every state has a $0 deductible on tier 1 and 2 drugs. Further, premiums are below the benchmark in most states.
The deductible that applies to higher tiers varies by region; they go as low as $215 – $435 for the year.
The Silver Script Plus plan includes pharmacies like Publix, Safeway, Kmart, Kroger, Freds, Walmart, CVS, and Albertsons. There is a $0 deductible in all states for all tiers
Also, most generics will cost between $0- $2 a month. Further, this plan includes coverage in the donut hole for tier 1 and 2 drugs.
Our team of agents can input your drug information and calculate the best option for you for the year; give them a call at the number above. An expert is aware of the industry, coverage, and benefits of each plan.
When you trust one of our professionals to handle your Part D application, you save yourself time and money. You’re one phone call away from a better policy.