We found 23 Medicare Part D Plans in Arkansas.
- The average A premium is an amount that an insurance policyholder must pay for coverage. Premiums are typically paid on a monthly basis. In the federal Medicare program, there are four different types of premiums. is $46.37 per month, however the lowest premium is just $6.40.
- The average drug plan A deductible is an amount a beneficiary must pay for their health care expenses before the health insurance policy begins to pay its share. is $363 per year, but 4 plans have a zero-dollar deductible.
- Medicare rated 22% of all plans available in Arkansas 4 stars or higher.
- There are 9 basic benefit plans and 14 enhanced benefit plans.
- A total of 5 plans offer full Social Security's Low-Income Subsidy (LIS) program helps Medicare beneficiaries pay for their Medicare Part D prescription drugs by paying some of the costs. Also known as "Extra Help", beneficiaries who qualify for LIS receive premium... (LIS) for those who qualify.
- There are 3 plans that have additional coverage in the coverage gap phase (aka, "donut hole").
Arkansas Medicare Part D Plans
|AARP MedicareRx Preferred||$100.20||$0||Enhanced||No||No||Yes|
|AARP MedicareRx Saver Plus||$53.70||$480||Basic||No||No||No|
|AARP MedicareRx Walgreens||$26.10||$310||Enhanced||No||No||No|
|BlueMedicare Premier Rx||$150.60||$0||Enhanced||No||Yes||No|
|BlueMedicare Saver Rx||$24.60||$350||Enhanced||No||No||No|
|BlueMedicare Value Rx||$50.90||$400||Basic||No||No||No|
|Cigna Essential Rx||$32.20||$480||Enhanced||No||No||No|
|Cigna Extra Rx||$56.30||$100||Enhanced||No||Yes||Yes|
|Cigna Secure Rx||$27.40||$480||Basic||Yes||No||No|
|Clear Spring Health Premier Rx||$16.80||$480||Enhanced||No||No||No|
|Clear Spring Health Value Rx||$25.20||$480||Basic||Yes||No||No|
|Humana Basic Rx Plan||$27.40||$480||Basic||Yes||No||No|
|Humana Premier Rx Plan||$70.10||$480||Enhanced||No||No||Yes|
|Humana Walmart Value Rx Plan||$22.70||$480||Enhanced||No||No||No|
|Mutual of Omaha Rx Plus||$88.00||$480||Basic||No||No||No|
|Mutual of Omaha Rx Premier||$34.10||$480||Enhanced||No||No||Yes|
|Wellcare Medicare Rx Value Plus||$68.90||$0||Enhanced||No||No||No|
|Wellcare Value Script||$12.90||$480||Enhanced||No||No||Yes|
Every 2022 Part D Plan in Arkansas Has 4 Cost Phases
Arkansas Medicare Part D plans are an option Medicare beneficiaries can use to get prescription drug coverage. Part D plans provide cost-sharing on covered medications in four different phases: deductible, initial coverage, coverage gap, and catastrophic. Each... help beneficiaries pay for their prescription medications. If you are new to Medicare, some of the Part D plan concepts may be foreign to you. So we'll start with an overview of the four cost-sharing phases.
Phase 1 is the Deductible
The deductible is the amount that you pay before your Medicare Part D plan begins paying its share of the costs. So, if you enroll in a 2022 prescription drug plan with a $480 deductible, you'll spend $480 out-of-pocket before cost-sharing coverage begins. Most Medicare Part D plans have a deductible, but some Medicare Part D plans exclude Tier 1 drugs from the deductible, giving immediate coverage on most generic medications.
The 2nd Phase is the Initial Coverage Limit (ICL)
For 2022, the Part D Initial Coverage Limit (ICL) is $4.430. Your Part D plan will pay the bulk of your prescription cost during the ICL phase. If your costs exceed $4,430, then you will be in the coverage gap phase (aka "doughnut hole")
The Coverage Gap is the Third Phase
After your 2022 gross drug costs have reached $4,330, you will enter the A period of time in which you pay higher cost-sharing for prescription drugs until you spend enough to qualify for catastrophic coverage. phase. This is where you will pay 25% of your medication's retail cost. While the price of A generic drug is a prescription medication that has the same active ingredient formula as a brand-name drug. Generic drugs usually cost less than brand-name drugs. might not be much different, what you pay for brand-name drugs will be higher (because you're paying 25% of the full price). This will continue until you reach $7,050 in True Out Of Pocket Costs (TrOOP).
Some plans offer additional gap coverage, so look for it on the plan information pages.
Phase 4 is Catastrophic Coverage
After you have spent $7,050 in 2022, you get out of the coverage gap phase and you automatically receive "catastrophic coverage". In this phase, you will only have to pay a small percentage of Coinsurance is a percentage of the total you are required to pay for a medical service. or payment on covered drugs for the rest of the year.
The Out-of-Pocket Costs for Medicare are the remaining costs that are not covered by the beneficiary's health insurance plan. These costs can come from the beneficiary's monthly premiums, deductibles, coinsurance, and copayments. that help you get catastrophic coverage include:
- Your plan's deductible;
- What you paid during the Once you have met your yearly deductible, you will pay a copayment or coinsurance for each covered drug until you reach the initial coverage limit. You will then enter your plan’s coverage gap (aka, “donut... period;
- Most of the full cost of brand-name drugs (and the manufacturer’s discount) purchased in the coverage gap;
- The amount paid by others, including family members, most charities, and other persons on your behalf; and
- The amount paid by State Pharmaceutical Assistance Programs (SPAPs), AIDS Drug Assistance Programs, and the Indian Health Service.
Choose Your 2022 Part D Plan Wisely
Choose from the available Part D Medicare plans carefully, and don't settle on a Part D plan until you know that your most expensive medications are covered at a price you can afford. This information is available in the plan's A formulary is a list of prescription drugs covered by a prescription drug plan or another insurance plan offering prescription drug benefits. Medications not on a plan's formulary are generally not covered.. You'll find links to the formulary information, pharmacy information, and the customer service phone number on each PDP page (above).
IMPORTANT: Identifying the best Medicare Part D Plans for you takes a bit of research. What's best for you is personal and must consider multiple factors, including your regular prescriptions, your health, and your finances.
Did you Know Most Medicare Advantage Plans Include Prescription Benefits?
Your Medicare benefits are flexible, and there's more than one way to get prescription drug coverage. If you want to keep your Original Medicare is private fee-for-service health insurance for people on Medicare. It has two parts. Part A is hospital coverage. Part B is medical coverage., you can enroll in one of the stand-alone prescription drug plans available in Arkansas. The other way to get Part D coverage is to enroll in one of the many Medicare Advantage Plans available in Arkansas that include Part D benefits.
Medicare Part D and Supplements Work Together
Medicare does not pay for all of your hospitalization and medical bills. In fact, Original Medicare only covers about 80 percent of your major medical costs. We keep an up-to-date directory of Arkansas Medigap Plans, also called Medicare Supplements are additional insurance policies that Medicare beneficiaries can purchase to cover the gaps in their Original Medicare (Medicare Part A and Medicare Part B) health insurance coverage., with the tools you need to find the best price and coverage. Medicare Part D plans are fully compatible with Arkansas Medigap plans.
Getting Medicare Part D with Arkansas Medicaid
Arkansas beneficiaries who qualify for both Medicare and Medicaid (aka, "dual eligible" or "Medi-Medi") may be enrolled in a Arkansas Medicare Prescription Drug Plan automatically, as well as Social Security's Extra Help program. The Extra Help program pays for most of your prescriptions, but only if you meet the strict eligibility requirements. If the dual eligible option does not meet your needs, you have the option to enroll in a Arkansas Part D plan that does. If you are already receiving Medicaid is a public health insurance program that provides health care coverage to low-income families and individuals in the United States., contact your local Medicaid office for assistance in the transition to Medicare.
Citations & References
- Medicare.gov, "Your Guide to Medicare Prescription Drug Coverage booklet", Last Accessed June 3, 2022
- Medicare.gov, "How Part D works with other insurance", Last Accessed May 14, 2022
- Medicare.gov, "Catastrophic coverage", Last Accessed June 13, 2022
- Medicare.gov, "Are prescription drugs covered in Medicare Advantage plans?", Last Accessed June 6, 2022
- SSA.gov, "Extra Help with Medicare Prescription Drug Plan Costs", Last Accessed June 1, 2022
- CMS.gov, "Landscape Source Files", Last Accessed October 26, 2021
- CMS.gov, "Medicare Part C & D Performance", Last Accessed October 15, 2021
This Medicare Part D plan state information page was last updated on .