We found 22 Medicare Part D Plans in Iowa.
- 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 $48.57 per month, however the lowest premium is just $6.80.
- 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 $368 per year, but 4 plans have a zero-dollar deductible.
- Medicare rated 32% of all plans available in Iowa 4 stars or higher.
- There are 9 basic benefit plans and 13 enhanced benefit plans.
- A total of 6 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").
Iowa Medicare Part D Plans
|AARP MedicareRx Preferred||$97.00||$0||Enhanced||No||No||Yes|
|AARP MedicareRx Saver Plus||$36.20||$480||Basic||Yes||No||No|
|AARP MedicareRx Walgreens||$29.30||$310||Enhanced||No||No||No|
|Cigna Essential Rx||$30.20||$480||Enhanced||No||No||No|
|Cigna Extra Rx||$52.00||$100||Enhanced||No||Yes||Yes|
|Cigna Secure Rx||$39.10||$480||Basic||Yes||No||No|
|Clear Spring Health Premier Rx||$16.60||$480||Enhanced||No||No||No|
|Clear Spring Health Value Rx||$29.30||$480||Basic||Yes||No||No|
|Humana Basic Rx Plan||$39.50||$480||Basic||Yes||No||No|
|Humana Premier Rx Plan||$73.20||$480||Enhanced||No||No||Yes|
|Humana Walmart Value Rx Plan||$22.70||$480||Enhanced||No||No||No|
|MedicareBlue Rx Premier||$116.10||$0||Enhanced||No||Yes||No|
|MedicareBlue Rx Standard||$82.80||$480||Basic||No||No||No|
|Mutual of Omaha Rx Plus||$78.80||$480||Basic||No||No||No|
|Mutual of Omaha Rx Premier||$34.00||$480||Enhanced||No||No||Yes|
|Wellcare Medicare Rx Value Plus||$68.90||$0||Enhanced||No||No||No|
|Wellcare Value Script||$10.60||$480||Enhanced||No||No||Yes|
Iowa Medicare Part D Plans Have Four Phases
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... are designed to help Medicare beneficiaries pay for their prescription drugs. Some of the cost-sharing concepts of these plans are foreign to new Medicare beneficiaries, so let's look at the four phases.
The Deductible Phase
Prior to a plan paying any of your prescription costs, you are required to pay the annual deductible. So, if you enroll in a 2022 plan with a $400 deductible, you'll spend $400 out-of-pocket before coverage begins. Most Part D plans have a deductible, but some plans exclude Tier 1 (generics), offering immediate coverage on low-cost medications.
Phase 2 is the Initial Coverage Limit
The 2022 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... (ICL) is $4,430. The ICL phase is when your Part D plan begins to pay the bulk of the costs. If your prescription costs exceed $4,430, 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 (aka, "donut hole").
The Third Phase is a Coverage Gap
After your 2022 gross drug costs have reached $4,330, you will enter the Coverage Gap 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.
Catastrophic Coverage is the Fourth Phase
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 initial coverage limit 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 Part D Plan with Care
Evaluate Part D Medicare plans wisely. If you have a regular prescription or two, we suggest that you verify that the plan you want offers your medication(s) at a good price. You find this information in the 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.. We post links to the formulary and pharmacy web pages, as well as the plan's phone number, on each of the PDP pages listed above.
VITAL: Identifying the best Medicare Part D Plans requires research. What works the best for you is all about your regular prescriptions (if any), your health, and what you can afford.
Medicare Part D is Included in Most Medicare Advantage Plans
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 Iowa. The other way to get Part D coverage is to enroll in one of the many Medicare Advantage Plans available in Iowa 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 Iowa 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 Iowa Medigap plans.
Iowa Medicaid and Your Medicare Part D
In Iowa, if you are eligible for both Medicare and Medicaid (aka, "dual eligible" or "Medi-Medi") you will automatically be enrolled in a Iowa Medicare Prescription Drug Plan and the Social Security Extra Help program. Extra Help pays for most of the costs of your prescriptions if you meet the eligibility requirements. You may also enroll in a plan of your own choosing that better meets your needs. If you qualified for Medicaid is a public health insurance program that provides health care coverage to low-income families and individuals in the United States. before you were eligible for Medicare, contact your local Medicaid office.
Citations & References
- Medicare.gov, "How to get prescription drug coverage", Last Accessed April 28, 2022
- Medicare.gov, "What Medicare Part D drug plans cover", Last Accessed May 1, 2022
- Medicare.gov, "Medicare costs at a glance", Last Accessed June 11, 2022
- Medicare.gov, "Are prescription drugs covered in Medicare Advantage plans?", Last Accessed June 5, 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 .