If you have a Medicare Advantage plan, you may already have Medicare Part D coverage bundled with your medical plan. If not, standalone Part D RX plans for seniors can help you pay for prescriptions you typically pick up from a local or online pharmacy. If you don’t have drug coverage, you will have to pay the entire cost of most prescriptions, and you may get a penalty for enrolling in Part D late.
Examples of people who need Medicare Part D plans include those with only Original Medicare or Original Medicare with a Medicare supplement. All Medicare prescription plans have to offer you a basic coverage level for medications. At the same time, Medicare Part D plans may vary considerably by copays and even the kinds of covered medicine.
Learn how Medicare Part D coverage works and how to buy a plan that will likely save you the most money at convenient drugstores.
How Do Medicare Prescription Plans Work?
- Each plan will have a list of its covered drugs. Medicare prescription plans refer to this list as a formulary.
- Within the formulary, the plan will have distinct tiers of drugs that they may cover at different levels. For instance, you will usually pay much less for generic drugs than any other kinds.
- In addition, the insurer may categorize various prescriptions as preferred brand-name, non-preferred brand-name and specialty medications. As you move up the tiers, you might have a higher copayment.
- Before shopping for Medicare prescription plans, 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 Medicare Part D 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 drug coverage needs for the next year.
Because various plans offer different coverage, compare Medicare RX plans for seniors with your expected medical needs in mind. You can always click the “Get a Quote” button below to use our Medicare Part D plan finder for free.
BlueCross MedicareRxSM offers fixed copayments and savings with Preferred Pharmacies.
Blue Cross MedicareRx
Blue Cross MedicareRx offers Basic, Value and Plus plan designs.
- Low premiums and deductibles
- Budget-friendly copayments
- Comprehensive drug lists
- Gap or “donut hole” coverage
Whether you’re new to Medicare or making a change, here are some things to consider before choosing your plan.
- Be sure you are eligible for Medicare.
- If you’d like to enroll in a prescription drug plan, make sure you’re aware of enrollment periods. Members may enroll in the plan only during specific times of the year.
- Each plan design offers different benefit levels.
Let Us Help
Senior Services of Illinois has helped individuals understand their health insurance choices for over two decades. Our agents can work with you to make sure you figure out which Medicare Part D plans will help you save money and enjoy convenient access to good pharmacies. Contact us today to discuss your Medicare prescription and health care needs.