Medicare Part D Prescription Drug Plans
If you have a Medicare Part C plan, you may already have prescription coverage bundled with your plan. If not, a standalone Part D Rx plan in Illinois can help you pay for medications you typically pick up from a local or online pharmacy. If you don’t have coverage, you will have to pay the entire cost of most prescriptions, and you may get a penalty for enrolling late. All plans must offer basic coverage. Plans may vary considerably by copays and even medications covered.
How Do Plans Work?
Each plan will have a list of covered drugs, they refer to this list as a formulary. Within the formulary, the plan will have tiers of drugs that they may cover at different levels. For instance, you will usually pay much less for generic drugs than any other kind. In addition, the insurer may categorize various prescriptions as preferred brand name, non-preferred brand name, and specialty. As you move up the tiers, you might have a higher copayment. Before shopping for a plan, list any prescriptions you presently take. That way, you can check them against each plan’s formulary. Some plans, like the Blue Cross Blue Shield of Illinois plan, may also offer you better prices within their pharmacy network. In addition, you can choose between three levels of coverage. This gives you the chance to balance the premium against your anticipated coverage needs for the next year.
Blue Cross MedicareRx
Blue Cross MedicareRx offers Basic, Value, and Plus plan designs.
Low premiums and deductibles
Comprehensive drug lists
Gap or “donut hole” coverage
Things to consider
Be sure you are eligible for Medicare.
If you’d like to enroll in a plan, make sure you’re aware of the enrollment periods. Members may enroll only during specific times of the year.
Let Us Help
Our agents can work with you to make sure you figure out which Part D plan will help you save money and enjoy convenient access to good pharmacies. Contact us today at (855) 740-2227.