Medco Medicare Prescription Plan - Choice PDP for Maine Seniors
| CMS Rating: |  |
|---|---|
| Plan Premium: | $81.40 |
| Pharmacy Co-Pay: | $200.00 |
| Initial Coverage Limit: | $2,970.00 |
| Pharmacy Mail Order: | Yes |
| Gap Coverage: | Many Generics |
| Low Income Subsidy: | No |
| Medicare Formulary: | 3250 |
| PDP ID No: | S5660-172 |
| Plan Year: | 2013 |
| Approved by CMS for: | ME Residents |
| Rx Plan Type: | National |
| Members in Region: | 892 |
2013 Medicare Prescription Drug Plan Overview
Medco Medicare Prescription - Choice (PDP) is an approved Medicare Prescription Drug Plan insured by Medco for Maine seniors and other qualifying beneficiaries.
The plan's premium is $81.40 per month ($976.80 annually) and it has a $200.00 annual pharmacy deductible. The maximum deductible allowed by Medicare in 2013 is $325. Your prescription coverage assistance begins when the deductible is reach.
The plan's formulary ID is 00012032. It features 3250 approved prescription medications.
Maine seniors, there are two circumstances that will change the premium. Seniors that qualify for Extra Help receive a lower premium. Beneficiaries with a late enrollment penalty will pay slightly more.
We think it is worth comparing Medco Medicare Prescription Plan - Choice with:
- WellCare Classic at $33.50 per month for Maine Seniors
- AARP MedicareRx Preferred at $35.10 per month for Maine Seniors
- Humana Enhanced at $48.90 per month for Maine Seniors
Medco Medicare Prescription Plan - Choice Initial Coverage
ICP - the Initial Coverage Phase - is where you share the cost of your prescriptions with your insurance company. You and the carrier each pay your share until you hit the Initial Coverage Limit (ICL). In 2013, the ICL is $2,970. This number is adjusted each year. This plan has a deductible, so your ICP does not start until the deductible has been paid.
All prescription drugs fall into one of several tiers within the insurance carrier's drug formulary. Carrier use the formulary tiers to manage cost-sharing. Be aware that tiers are not standardized. In other words, carriers assign drugs to the tier they deem most suitable.
In Maine the tiered pharmacy co-pay with the Medco Medicare Prescription - Choice (PDP) is as follows:
| Tier | Co-Pay Amount | Medications in Tier |
|---|---|---|
| 1 | $6.00 | 537 Preferred Generics |
| 2 | $12.00 | 1271 Non-Preferred Generics |
| 3 | $45.00 | 1012 Preferred Brand Drugs |
| 4 | $95.00 | 234 Non-Preferred Brand Drugs |
| 5 | 26% | 196 Specialty Drugs |
The ICL (Initial Coverage Limit) on this Part D plan is $2,970.00. This plan doesn't qualify for a $0 LIS premium.
Medco Medicare Prescription - Choice (PDP) 2013 Coverage Gap
The prescription drug Coverage Gap (aka, "Donut Hole") is the coverage phase where you must pay all of your medication costs. You can learn more about costs in the donut hole by reading What is the Medicare Part D Donut Hole? When you reach the donut hole with the Medco Medicare Prescription - Choice (PDP) plan all depends on your prescriptions.
The 'donut hole' gap coverage on this policy is: 65% to 100% of formulary generics are covered, but you must pay for Brand Drugs up to $3727.50.
Prescription Drug Plan Members
The reported number of Medicare beneficiaries using the Medco Medicare Prescription Plan - Choice plan nationally is 52,982. In your region (CMS PDP region 1) there are an estimated 892 people using the plan (previous year's statistics).
Additional Facilities and Services in ME
More Information About Medco
Medco Medicare Prescription Plan is a Medicare-approved Part D sponsor that is offered nationally in 35 Medicare regions, including the District of Columbia and Puerto Rico. This prescription drug plan is underwritten by Medco Containment Insurance Company of New York, an insurance company licensed in New York, and Medco Containment Life Insurance Company, an insurance company licensed or authorized to do business in the states that comprise the other 34 Medicare regions.The summary (overall) rating for this Medco plan is 4.0 out of 5 based on reviews from 892 user ratings from the previous year. For more information about the review process, visit http://cms.gov.
